The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-21
WHEAT PRICES BOON
On the Conviction of a Total
Failure Northwest.
JULY GAINS 33-4 CENTS
Closing at 81 49, New York
at the Years Top.
JULY GAINS 33-4 CENTS

Chicago, June 2o.-Drouth has ruined
half the crop OF wheat of the fruitful
northwest and now excessive heat. ac-
cording 10 today's dispatches, IS burn
Ing up the remainder. A message from
that unfortunate part of the country
said the country was 1e0 in places. If
any additional stimulus were needed 10
cause continuance OF recent heavy
buying of wheat it was found ia the
news mentioned. The market started the
session with a good advance over yes
terday and kept on advancing to the
close throughout the day. Northwest
crops were gloomy 10 an extreme degree.
New York authorities said that where a
Few days ago hat crop was Z possi-
bility Withra in, the loss now win be
nearly 80 per cent July opened 54c 10
9sc over yesterday at 78Sss7s14c, and af-
Ter a dip TO 78%4c near the opening, ad-
canced slowly but surely 10 SI5sc, az
" hica Is closed, a price 80 over yester-
Gay. Inc northwest was heavy buyer,
put at that ii could not be said TO have
led the trade. The demand came from
everywhere apparently; 10000 busheI
lots offered for profit by fortunate pos
SCISSORS were gobbled up like a peck Of
potatoes and the statisticians on the
board nearly lost their wits trying 10
Keep track of d market which had got
far out Of ordinary bounds. Outside
markets advanced. those IN the north
west shooting Up even faster than Chi
cage, thus furnishing TO the local people
addItiona. impulse. The cash business
was curtatled by the sky-rocketing Of
futures. The dips during the Gay were
lnconsequential generally. During the
forenoon, July, having Jumped to 792.c,
sold OF 10 7S34c, under Liquidation by
longs, but following that the dips were
toe small TO be noticeable in such a
large market The total OF today's trad
ms was estimated at 39.000000 bushels
Clearances at the seaboard were equal in
wheat and -four 10 1900 bushels FRI
mary receipts were $500 bushels, com
pared with I.060090 bushels last year3
Minneapolis and Duluth reported 251
cars, against 44 last week and 713 a
year ago. Receipts here were 10l cars,
none OF contract grade.
Good general buying of corn resulted
from thu wheat strength. That market
ruled strong throughout the session r.
ceipts were liberal 4I8 cars, and ship
pers reported good acceptances Of last
nights bids. The crop situation was ia
vorable, but the buying OF wheat was
too much 10 be ignored. July sold be-
tween $4,000 and 4t1sc, closing ar the
top, 13sc over yesterday.
Oats were active and strong. helped by
the advance in wheat There was stil
considerable changing. The northwest 7
bought some, and talked OF crop losses (
in the Dakotas and Nebraska. Receipts
here were 2c9 cars. July sold between
234 10 2i1.c, losing 1c over yesterday, /
al 241sc.
Provisions spectators were calm in the /
L. =
were in accord with the general improve /
ments sufficiently to advance the market |
q bit July pork sold between 81. "a and /
Sn-57lZ. and closed TIC up. at s11.55: July /
lard between So 60 and S6.67lz. closing sc /
improved az SSH; July ribs between |
s. - and $6.72l3. with the close sc better, !
at S5.72iz
. cars; corn, SIS; oats, 500; hogs, s., 900 /
head /
NEW YORK AT THE YEARS TOP.
New York, June 20-TAe bulls again +
control OF the wheat market .
this morning and squeezed shorts on the
early curb 10 the extent Of practically .
&c a bushel, July selling up to S37sc be-
fore the regular opening and from S324
TO S3i4c after thu official start Il was
an extremely nervous market. with 4
transactions on q big scale. and bad
Z
strong English cables, the principal ar
gument in favor Of advancing prices. The
pit was in a fever OF excitement all the
forenoon, prices shifting constantly over
a wide range, according as bulls or bears
obtained the upper hand temporarily. !
The cry Of dollar wheat has cropped I'D
in some quarters. but the best talent re- /
CARDS such a price as very extreme IN
der present circumstances. Operations
during the foTenOoa reached q to-al of
about $4,000 bushels. Spectators ex-
element was continued throughout the
entire afternoon with a strong advance
IN prices, July selling up to Sc near the
close, representing cents advance for /,
the day, and lie advance the past two
weeks. The December option was even
stronger. showing "a cents net advance !
The market closed in a burst OF excite
neut at top notch for the session. and
scar. Transactions altogether amounted
to about 10000 bushels
BRADSTREET VISIBLE
New York, June Especial cable and
con-municat tons ID Brad
streets show the following changes in
Available supplies from the last. account.
Wheat-Cuited States and Canada east
II the Rockies liverpool Corn Trade
News increase Hoo bushels: afloat for :
md in Europe. Increase 10000. Total
supply Increase I,1I7.l25 bushels
Corn-Unite5 States and Canada. east
II the Rockies. Increase $1,000
The aggregate stock o. wheat hel5 az
Portland. Ore, and Tacoma and SEATTLE.
Wash, decreased $500 bushels LAST
week.
GRAIN AND PRODUCE MARKETS.
CTr~ .-n