The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-12
EXCITEMENT N WHEAT
Government Confirms Spring
Wheat Damage.
GAIN OF 2 IA a 3-8 CENT
In September 10 Close on
BuIges in Coarse Grains,

Chicago, July 11--There was an ex-
cited wheat market today, with prices
at times almost SC over the close OF
Tuesday. Confrma ton by the govern
ment crop report of great damage TO
spring wheat was the main factor OF
strength September closed with an ad-
vance Of 2EG27zc. Reports Of damage
from drouth caused a. bulge Of TIC in
corn; oats gained lie, and provisions 50
12zc.
Wheat started strong, September 1ssg
1sc higher at 8l1s9S2c. The government
crop report for July, which reduced the
wheat prospect Just about an even hun
dred million bushels from the estimate
OF June, furnished the ammunition for
the bulls. There was liberal selling on
the bulge, however, on the belIef that
the crop in the northwest had been
greatly benefited by recent rains Bear
ish harvest news from Russft also ham
pered the advance somewhat and Sep
TENDER slipped of TO s1AGs1zse. The
early sellers were soon boiled out and
offerings became scarce. Then shorts
rushed 10 cover and there was consider
able buying for the long account. Under
this movement September rose steadily
to S5c. There were several soft spots on
proft-taking but the market ruled strong
throughout and September closed at SIS
GS21ac. 4 good cash demand and small
primary receipts helped to sustain the
upturn. Chicago received Is cars
against S. the same day last year. Min
neapolis and Duluth got only 155 com
pared with 4lS the corresponding day Il
year ago. Western primary receipts
were 10000 bushels against 77I.G0O bush
els last year. Clearancss Of wheat and
flour from the seaboard equaIed go coo
bushels
Corn showed decided strength. being
helped by the advance in wheat and
claims Of damage by drouth. The gov
er nment crop report, suggesting a pos
sibEe crop of ?. 2O0,0G00G0 bushels .encour-
aged considerable selling early but az
gressive buying by several bull leaders
starnpeded the shorts and the market
closed strong within asc Of the top. Sep
TENDER opened 2s6hc higher at 40
43Sic, advanced to 4is4c, sold off steadily
10 4}14c, rose 10 44tzc and closed with
sellers at 443sc. Receipts were 43s cars.
Seabord clearances $4,000 bushels AMI
export sales reported at y boatloads
Oats rallied with the other cerea : and
closed strong There was active buying
on the government report, which iudi-
Gated a yield of 100000 bushels less
than the June report Receipts were
light, rs cars; shipping m nd good
september opened ss61ac higher at2r41
z415c, advanced to 244tc ,eased of to 24lsc
and closed with buyers at 24Ssc
Lower prices at the yards and IN
expectedly heavy receipts Of hogs de-
pressed provisions early The market
rallied later when the grain list turned
SO strong Packers bought heavily Sep
TENDER pork opened 2tA6715e higher at
Sc. co.. PCS. declined to $3.50, rose 10
81. IS and closed at 1870, September
lard opened PIC lower TO PIC higher at
s5.S5ds9o. sold off to s6.s215 advanced to
Sc. 95d6.e7h. and closed at 1921 Sep
terber ribs opened 21ac higher to : cents
lower at s;-s0d6.9 71a. touched $3.50 and
to SOS ar the close.
Estimated receipts THURSDAY: Wheat,
20 cars; corn, AS; oats, go; hogs. 5000
head.