The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-23
ONLY l HbLF-GEHI Up
Northwest Reports Come
Gloomier Than Ever
BUT SALES TO REALIZE
Hold Prices Down. Provisions
at Big Gains.


ports were more sensationally unfavor-
able than ever today, but wheat con-
tented itself with holding firm, July clos
ing 1kc over yesterday. Heavy realizing
initiated against q pronounced advance.
/ Corn was active and strong. helped by
wheat. a better export demand and re-
newed buying by local bulls, July clos
ing 9sQAc higher. Oats closed nc up.
Provisions were strong and active. July
pork closed SOC, July lard &c, and July
ribs 2215c over yesterday.
Spectators had to cwallow long wheat
In heavy chunks throughout the session
and at times July dipped under yester-
days closing figures. The northwest
spring wheat condition was still the
great bull stronghold and dispensed news
of such a pessimistic tenor that the Of
ferings were handled, and again instead
of a. loss in price was made. Trade was
active, not to say excited, and the mar
ket pulse was rather feverish. A feel
ing that the northwest shortage, grave
as it may ultimately prove to be, had
been discounted, was prevalent among
many traders. The heavy profit-taking
did not tend to change this opinion. In
other words, it was held by many that
the price had advanced sufficiently TO
allow today's news, which was the most
unfavorable yet received, TO be ignored
Hot weather and a clear sky were gen.
orally reported from the Dakotas, Min
nesota and Manitoba. From these states
crop possibilities were generally reported
two-thirds ruined and the condition call
ed a veritable disaster. Statistician
Snow, of the board Of trade, just back
from thorough investigation of the sit
uatien, Is reported to have declared the
two Dakotas would not raise over 90.
COO, 600 bushels, while other authorities
said the three northwestern states. to-
gether with Manitoba, would not produce
over coco 600 bushels this season. July
opened lAqiAc over yesterday at $40
S3$sc, and shortly afterward sold at
824c. The opening bulge was under the
influence of news of the character here
inbefore mentioned and the slump was
on proft-taking by longs. The north
west was still a buyer, but following the
opening the market fluctuated according
as the pressure from longs was heavy
or merely easy. July, following this dip,
rallied TO S33sGSSi2c, whereupon longs
went after more profits and sent 1t
back to 8aHc. Again there was a rally,
July this time touching S3Izc and most
of ii was held. The market was pressed
back to s27sc, but firmly resisted and
closed Nc over yesterday, at $3.50. Clear
ances at the seabor6 were equal III wheat
and -four to 429, 900 bushels New York
reported Y loads taken for export. Re
ceipts at primary points were $4,000
bushels, compared with 977,o00 bushels
last year. Minneapolis and Duluth re-
ported AS ca--s, against ABS last we k and
669 a year ago Local receipts We're 1H
cars, IS of contract grade. The Modern
Miller reported harvesting Of winter
wheat progressing favorably.
Corn was strong the greater part of
the session. The market opened with
q sharp advance in sympathy with wheat
but country offerings were liberal and
receipts large and the decline in whe2t
found ready sympathizer in corn. Tbs
market lost the early advance and &c TO
boot. On the decline came renewed sup
port from the old bull crowd and buy
ing by people from the provisions pit
The market stiffened and the wind-up
was strong. July sold between 405sc and
415sc, closing SsA94c over yesterday, a
HiaGf1Asc. Receipts here were 722 cars.
The oats market was strong and &C
tive and the crowd in the usually neg
iected pit double the usual size. The
northwest was a buyer because Of loss
of feed-stuff and was the main support.
although shorts covered moderately on
tllF NIAn sN4NAlS III. NbIlibieikil, VI ctdEtS
hay, lack OF grass and an oats shortage
were received. July sold between 2l1sc
and 25c, and closed Ac over yesterday.
at 243+c. Receipts here were 2SS cars
Provisions were active and strong The
pit seemed to have at last contracted the
bull fever which has been affecting
grains. Hog receipts were light, prices
at the yards firm, and there was a
broadening of the outside demand. July
pork sold between s1675 and Sl21}tE,
and closed SOC over yesterday at 81. org;
July lard between s.. 70 and Sc. 9219. cIcs-
ing 25c up at s6.921a, and July RIBS be-
tween S.. 77l2 and s. %, with the close
22'hc improved, at s5.97i5.
Estimated receipts tomorrow: Wheat.
$50 cars; corn. 10 cars; oats, 80 cars;
hncs 1ThnA head