The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-08-04
On CASH AND EXPORT
Business the Wheat Market
Becomes Strong
ADVANCING A HALF-CENT
Corn Lower; Oats Higher; YELL
low Fever Hits Provisions,
ADVANCING A HALF-CEN7

Chicago, Aug. 3.-Wheat was weak
I came strong later ON heavy cash and ex-
port business and closed at an advance
of 19c. The market, as whole was a
narrow one. Corn was weak, principally
on the small shipping demand, and de-
clined u TO sc Oats advanced sc
Yellow fever reports scaled provisions
prices, pork declined 15c, lard 21a to sc
snd ribs to TIC.
Wheat opened with buyers In the ma
| jority. The brief session a. Liverpool
reported an advance of Esd in price
there. AS local prices declined a cent
yesterday, this naturally had considera-
bic effect. There was a good deal of
covering by yes terday's sellers at the
opening and buying by professional
traders. September opened at 759sd $40,
compared with yesterdays closing price
of 74AGT4sc. The advance was main
tanned but a short time. Primary re-
ceipts were very large, nearly 80 per
cent larger than year ago, and tie
quality of receipts of new wheat at Min
neapolis was said to be the best in
years. AS soon as the opening demand
was satisfied the market turned weak.
Bears took advantage of the lack Of
! buying orders 10 put pressure on the
market, and prices Slid off very easily
under the raiding, September dropping
| to TIC, with hardly a rally of conse-
quence. 1t then rallied 10 75Isc, cut
again declined TO TAX Q747sc. chiefly on
account Of lack of support, and not IN
+pa
market develop any real strength. Then
reports Of heavy cash business and ex-
port engagements began 10 come in,
local well as outside points reporting
good business. bullish report on
the condition of the northwest crop by
StatisHcian Snow increased the demand,
which at all times, however, was local,
there being very little outside interest
shown in the market New York finally
put it's export engagement s at &c loads.
September rallied to 1850, and closed at
T514Q75$sc bid. Northwest receipts were
241 cars, against 223 last week and cO5
year ago. Chicago receipts Were I'll
cars, "a Of contract grade. Total pri-
mary receipts were put at $50 600 bush
els, compared with $4,000 bushels a year
ago. Atlantic port clearances of wheat
and flour amounted to $4,000 bushels.
Corn, with the exception Of a few mo-
ments of f1rmness around the opening
due to higher cables and complaints Gf
heat in Kansas, was weak and lower all
day. The weather over most of the corn
belt was good, and favorable crop pros
poets encouraged selling, which was per-
sistent and at times rather heavy The
demand was local and scattered. There
was some cash demand but not suffi-
cient to affect the market. There was
a slight rally near the close in sympa-
thy with wheat. Receipts were 272 cars.
Cash sales were about $50, 600. Septem Der
ranged from 3SSsc to 375sc and clos
12G3sc lower, at S67sG37c.
Oats were dull, but fairly steady, the
market holding its own in spite of the
corn weakness There was some liqui-
dation early on the heavy receipts, but
the slight loss was recovered later. The
cash demand was good. Receipts were
45S cars. September ranged from q 10
21Ac, and closed &c higher, at 21Ac.
Yellow fever reports were the one fac
tor in provisions. Opening prices show
ed material declines for this reason, ard
until late in the session the market was
extremely weak There was a general
letting go Of products on the break. but
late in the day some Of the loss was re-
covered on good buying by packers and
the continued good cash demand The
close, however, was heavy. September
pork closed 15c lower, at s12.05; Septem-
Der lard 2h TO sc lower. at s6.S5. and
September ribs to nc lower, at $7.I09
Z .1215
Estimated receipts tomorrow: VIII at,
30 cars; corn, 275; oats. 42O; hogs. 1890
head.
GRAIN AND PRODUCE Markets