The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-18
RECOVERY N WHEAT
After an Early Break, Closes
l-8 Cent Higher.
CORN BREAKS ON RAINS
Oats 1-8 Cent Up--Provisions
Away Down.

chicago, July H.-Erom a break coca
stoned by liquidation in corn early wheat
today recovered on a demand from The
northwest and covering oy shorts, closing
firm, September 1sc over yesterday. Corn
broke because Of more favorable reports
as result OF recent rains, but covered
some of It, September closing sc down
Oats closed &C lower September pork
Sc, September lard 49, to lac. and Sep
TENDER opened 14c higher. at T7t2 70
77zsc, because Liverpool showed but a
small decline In the face of the drop
here yesterday. and because receipts
were small Then the market lost its
nerve because corn was making such 4
swift break for the bottom September
following the opening, worked up 70
774e, and then proceeded for the "a
timber. not stopping till 7552c was reach
ed. The liquidation was heavy during
the slump and the demand scattered
Having used up nearly al hour in &C
complishiug this, the speculative mind
became more composed and concluded
TO buy some. Shorts covered to secure
profits and some bull support which sent
the market in an upward course. This
move was helped along by renewed buy
ing from the northwest and a decrease
in the worlds visible Of p 100o.CG) bush
els according to Bradstre :. September
ranied to TIC, and e1rtly afterward
closed with most Of the advance held,
1sc over yesterday, g. 774a7l3sc- che
rally was helped 70 a degree by the par
tiaI recovery Of corn The foreign news
was beartsh, France reporting a loss OF
only 10 per cent, while Rounan1a was
said to have the largest crop In her his
tory. There was q break at Paris and
a. Antwerp. New YORK reported 8
loads taken FOR export. Seaboard clear
ances in wheat and -four were equal
TO 2Z3, COO bushels Receipts at primary
points were 1890 bushels, compared
with f,120.G0O bushels last year Mime
apolis and Duluth reported 3O3 cars,
against 1c4 last week and ~ a year ago
Receipts here were 25 cars, 4 Of con-
tract grade. Southwest receipts were
heavy. The gravity Of the Chinese SIT
ustion and the likelihood Of the grain
carrying service being cuFtailed by the
taking OF ocean steamers for transport
ing troops excited some co1sidera Ion.
The corn market made d hollow, empty
show OF having recovered Somewhat BY
the bear Grubbing given it yesterday,
but the exhibition lasted for only mo-
the four corners Of the earth 10 permit
a hyperbole, was shoveIed IN the pit IN
INN ense Quantities and inside # an hour
the market brought up &c under yesLer-
days close. The occasion for the sunp
was TO be found in reports OF excellent
crop prospects as a result Of recent
heavy rains. In duckiug for the bottom
the price got within q shipping basis,
and buying by shippers and cash peo-
- ---s-E E--
shorts for profits, caused a reaction and
part of the loss was regaIned, giving
the close an APP -ararce Of frmness com
pared with conditions earlier IN the ses-
sion September sold between 2stz and
4iAc. and closed 12sc under yesterday.
at 41d4IAc.
Trade in oats was not heavy, but that
market which Is not even allowed a
specially Constructed pit ike wheat. corn
and provisions on the floor of the DO I'd.
showed a deal Of inherent strength whan
the other grains were dropping like the
mercury on q cold day. The rains which
in JAe southwest were helping corn. were
q positive injury 10 cats in the shock,
and reports from the northwest Were in
no wise improved. Hence the steadiness.
Receipts were "a cars. September sold
between Zl1s and 2S14c, and closed lsc
down, at 23%tc
Provisions early in the session were
very weak, but part Of the loss was r.
covered Hogs We're easy az the yards,
and the corn break was q decidedly
bearish factor. One heavy Spectator
let out long line and another sold
short. this stuff forming the bulk Il tn
offerings TIE recovery, such as II vas,
was on buying ~ rackers Sept m6sr
pork sold between SlI-65 ard lilo clos
ing 15c unde1 yesterday az S1I.7j: Sep
tember lard between $751; and s55
closing ar So. e5d6.671a. ana September lbs
between 1915 and s555. with The close
III TI5c down, ar s6.551is- S71a
Estimated receipts tomorrow: Wheat
e5 cars; corn, $50; oats, 100; hogs S0t0J
head