The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-19
WHEAT 5 HUGE BULGE
Close Is 8 So Cents Above
That of Saturday.
SHORTAGE IN NORTHWEST
Coarse Grains FoIIoW-Pro-
visions Little Changed.
SHORTAGE IN NORTHWEST

Chicago, June 1S.-Wheat was sensa-
tionaily strong and excited today, clos
ing 39sc over Saturday. Corn closed! Y
G@sc and oats AQasc up. The provis on
market at the close was barely steady
and but little changed.
Startling reports of the extreme grav-
ity Of the crop situation in the wheat
growing states or North and South Da-
kota and Minnesota made wildly ex-
cited opening in wheat. The demand for
wheat especially from the northwest,
was far and away the largest of any day
this year. Brokers had their pockets
stuffed with buying orders from all quar-
tiers. Longs took out moderate fortunes
in profits, but their sales Wer absorbed
almost as sand sucks in water, and the
market continued the advance begun
with the ringing of the gong at $50 d.
n. July opened 1IQfsc higher at ISIS 70
757sc, and almost without a check went
booming UP to 1870, 1sc under the high
mark last year. The top was reached
half an hour before the close and such
dips as occurred on the advance were
comparatively frail From the pinnacle
of its strength July reacted TO 7S54c apd
closed $3.50 over Saturday, at 1874 Q7Szsc.
The great mass of.reports may be brief
Sunday We're the worst days OF the sea-
son for the spring wheat crop in the
northwest; many sections northwest VIII
not raise enough wheat for seed; 5000
coo bushels is an outside possibility for
the North Dakota crop, which last year
Appropriated S0,000G00 bushels North
Dakota South Dakota and Minnesota
combined cannot raise over 10000 00)
bushels, a decrease from last year Of
10, C000G0 bushels. The entire yield Of
winter and spring wheat, notwithstand-
ing the bumper" crop Of Kansas, viii
not be over 5Oo000,O00 bushels, according
to the estimate of Statistician Snow. In
comparison with the spring wheat ad
vices the winter wheat complaints re-
ceived little attention, although they
were serious enough in themselves to
start things moving. illinois, Indiana
and Missouri reported damages from ex-
tensive rains, and Russia was said TO be
suffering from drouth in the south. The
market was several cents out of line, in
response to cash business and in many
ms stances cash wheat was resold to adj
vantage Seaboard clsarances of wheat
and -four were equal to $4,000. Primary
receipts aggregated $4,000 bushels, com
pared with 1022 eco bushels last year.
Minneapolis and Duluth reported GAG cars.
against I75 last week and $40 a year ago.
Local receipts were Ill cars, Of con-
tract grade. New York reported p
loads taken for export.
Corn, in spite of the wheat furry, was
rather sluggish early. Finally, however,
the market grasped the coat tails Of the
ascending wheat values and scored a.
substantial advance July sold between
G914 and 4014c, closing 1zGssc 10, at 33ft1
z0c. Crop reports were favorable ana
the opening was a shade reduced from
Saturdays close. Later shorts covered
on the theory that d fourcent advance in
wheat called for some upward action In
corn by sheer force of example. Re
ceipts here were $40 cars. Local ship
ments Including Sundays, were 1,43Z00)
bushels.
Oats were lifted up by wheat. July
closed Aq2sc higher than Saturday, at
2Shc
Provisions were steady, but no attempt
was made by the controlling int rests
to unduly stimulate the market Trade
was rather quiet and the main business
of the day was in changing July over
to September. Hog receipts were lighter
than expected and the market at the
yards higher. July pork closed I'M
charged at s11.5O; July lard 214c lower at
s5.671-. and July ribs 215c higher, at
sj.72la.
Estimated receipts tomorrow: Wheat,
1876 cars; corn, 1,1eo; oats, $40; hogs, 1900
head.
New York, June 1S.-This afternoon the
wheat market was stronger than ever.
July rushing up TO S312c representing 4c
advance for the day and 11l5c rise since
the present bull movement began. At
tending this late upturn was a renewal
of excited outside buying and covering
by the local short interest. II was ru-
mored that Wall Street was also inter
ested in the bull side. Transactions for
the day footed up about 500, 600 bushels.