The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-08-02
FIRM THOUGH Dull
Bull News Puts Traders on
the Buying Side,
CORN WEAK AND LOWER
Oats Also OoWn--ProVisionS
at Advances.
CORN WEAK AND LOWER

Chicago, Aug. 1.-Wheat was quite firm
today, in spite of decided dullness, and
closed at an advance Of &c. Higher ca
bles and a good cash inquiry, with some
| bad far western threshing returns made
traders favor the buying side Of the
market. Corn, on the contrary, was
weak, heavy deliveries, lack of cash de-
mand and favorable crop reports causing
1ac decline. Oats closed 1sa4c lower.
Provisions showed closing advances
ranging from shade to nc.
Wheat opened firm, Notwithstanding
the fact that deliveries on August con-
tracts were unexpectedly heavy, the to-
tai being close to 100000 bushels. In
itial prices for September were slightly
higher at 75G751sc, compared with yes
terday's close of 747sd75c, and in the
first few minutes trading the price ad-
vanced to 75%sc. Liverpool was up % to
I'd. This was unlocked for and suggest
ed reasons for strength abroad indie
pendent of crop failure in this country
and acted as a stimulus to the market
at first. A slight reaction took place fol-
lowing the advance to 753sc, the price
declining slowly to 75c but decidedly
pessimistic crop news from California
and indeed from the whole Pacific coast,
started buying again, threshing returns
in California indicating a shortage of at
least 100000 bushels, while returns from
Oregon were apparently not much be. ter.
A long period of dullness followed an ad-
vance to 754c, during which the market
touched 747sc. but late in the session the
market became decidedly firm and prices
during the last haf-hour's trading adj
vanced quite rapidly. Throughout the
session there had been a steady absorp-
ton of offerings, and when an excellent
cash inquiry and indications of go d
cash business stimulated speculative
buying, investors found some difficulty
in getting wheat. The fact that Kansas
City shipments were 5000 bushels larger
than receipts was not lost night Of in
this connection. September finally sold
up to 757sc and closed firm at 75% G757sc.
Northwest receipts were 235 cars. against
251 last week and 237 year ago. Chi
cago receipts were 237 cars, AZ of con-
tract grade. Total primary receipts were
$4,000 bushels, compared with $4,000 a
year ago. The seaboard reported 56 / ads
taken for export Seaboard clearances
were equal to 175,OO0 bushels
Corn was consistently weak. Deliver
les on August contracts were heavy and
the cash demand slack, which. vi h tn
excellent crop prospects, brought II ore
corn on the market than it cou d tand
up under. The demand for Seotem e
was very light and not until wheat de-
veloped strength late in the day dii corn
show any rallying tendency Local re-
ceipts were 2S9 cars September ranged
from 3S9slsso54c to 3T5sc, and closed re
lower at 3SG3S1sc.
Oats were dull and rather heavy most
of the session. Selling was quite gen
eral at times, sympathy with corn and
the increasing country move ent making
Spectators favor theoselling SIDE Crop
reports were favorable. Elevator people
were prominent sellers Local receipts
were 252 cars. September ranged from
p to 3lssc and closed Is to &c lower.
at 21Ac
Provisions were again firm, though not
especially active The influence of small
stocks and higher hog market started
all meats at a good advance. Not all
of this was held, realizing using prices
to define somewhat, cut closing quo
tations were in all cases a little a o-a
yesterday. The cash demand was good
September pork closed sc higher al
$1207lz; September lard nc higher at
IS. 9GQ6. 92i2. and September ribs a SHADE
higher, at S7.1213d7 10.
Estimated receipts Thursday: Wheat
295 cars; corn, 300: oats, 315; hogs, 2J.C00
head