The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-09
WHAT D|aGES AGAIN
July Advances 2 ga Cents
at Chicago
MOSTLY DUE TO DROUTH
Coarse Grains Make Big Gains
Provisions improved.
MOSTLY DUE TO DRoUTH

| Chicago, June s.-Heavy general buying
caused by the dry weather in the north
west. advanced July wheat 2 SIC today.
Sympathy with wheat advanced the other
markets. July corn closed 11-2cq1 5-sc TO
Z lie improved.
July wheat opened at Tic to Il 1-3c,
fiat jump from yesterdays close Of 1-SG
11-+c. Then began trade which in ex-
element and volume exceeded even yes
terdays VIXEN traders were referring 10
the days Of the Letter deal for conlpari-
sons. Tn advance was occssioned by the
fact that the northwest was still without
rain. Realizing sales were heavy, how
ever. and July following the opening, de-
clined to 70 $40. Then the pressure OF
buying orders. punches OF which every
man in the pit seemed 70 have in the
greatest plenty, came 70 the aid OF the
market and july SHOT up TO Il 7-8c. Lots.
which during the recent dullness would
have caused a break in prices, were alb
sorbed without a tremor. At this point
the ather bureau announcement Of In
dications OF showers for the northwest
Saturday caused some cessation in the
buying and the takers Of profit forced
July gradually back 10 20 7-sc. The dip
however, merely gave the buyers
breathing spell, for at the price just
quoted, they jumped into the pith with
new vigor Northwest interests bought
enormous quantities, as Gid influential
locals. Some who went short early upon
the theory that the advance Of yesterday
would IN the natural course of things be
followed by reaction, covered, this aid
ing in the advance. Trading during the
last hour was very heavy. July climbed
up to Y SAC and closed ? 3-4c improved
at u 5-S673 3-4c- Gables we're strong and
the situation in Indiana, Ohio and Mich
igan not improved, but these consideTa-
TONS, as well as the immediate cash posi-
ton were for IN the background as in
1iuences. Tha northwest had the center
of the stage all 70 Itself. Testimony from
the spring wheat territory was nearly
unanimous that the crop situation was
becoming critical. AS a rule private adj
vices from the northwest described yes
terday as the worst which the crop has
undergone so far. High winds and sand
yesterday it was said, did further dam
age to the North Dakota crop. Through
out the entire session the northwest
bought, persIstently and heavily. Natur-
ally there was great deal of liquidating
but the small part the northwest took IN
this was noticeable and was a factor in
the squirt which the session came to a
close
Corn was easy and duh during the
first advance in wheat and gave no indi-
cation of the masked battery it had pre-
pared for the bears, and which it I'M
covered at a critical time and sent them
rushing TO cover. The pit had been
deserted in favor of wheat until some
buying orders brought out the fact that
there was little for sale. In a few min
The condition disclosed in corn was due
to the wheat strength, and once started
the shorts were not to be denied. July
sold between 558s and 40;sc, closing y to
sc improved at 40d401.c.
Oats like corn. Jagged early, but later,
in sympathy with the corn and wheat
strength, braced up and closed strong,
although trade comparatively was not
very active. July closed &c better at
2214c.
The provisions market was firm in
sympathy with wheat and corn. The
opening was firm on an advance at the
yards, but hogs later eased Of, ceasing
as a bull influence for the day. There
was fair demand, but offerings in the
pit were fairly liberal. July pork closed
TIC over yesterday, at s1.S71a; July lard
8 cents higher az s700, and July ribs
5d nc better, at $50.
Estimated receipts tomorrow: Wheat, !
so cars; corn, 300; oats, las; hogs, 1900 !
head.