The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-07-23
CROP REPORTS HOPELESS
Wheat and Oats Shoot Up
3 70 and 3 l-8c Higher.
GRAINS CLOSED STRONG
Provisions Closed Higher With
Pork Advancing 35.

Chicago, July PIN the grain PITS this
was q wildly bullish day. Impelled by the
hopeless tone of advices from the parched
prairies, wheat, corn and oats scored SEN
sational advances and closed excitedIy
strong, respectively $40, 4zsc and sG3sc
| higher for September. Provisions closed
higher IN sympathy. September pork ad-
vancing Sc
Wheat opened with a demand for Sep
TENDER from G1s to 7o9c, an advance OF
1545sc to 1szQ17sc, due to higher cables,
rather bulnsh statistics, sympathy with
corn, but to a greater degree to reports
Of beat and drouth in the northwes. cou-
pied with messages claiming damages had
already reached a serious stage. In the
| Dakotas and in Minnesota many fields
were said to have been snriveled by the
dry, scOrching winds, realizing largely
I by the local professional interest caused
an early drop to 69z4 G695sc- This selling
movement was of considerable weight.
but buying orders accumulated fast and
after a few moments Of depression the
market became wild again and shortly
after noon September was bio up to 1850.
Realizing sales again eXerted great pres
sure but the market yielded stubbornly
and the close was excited and strong, Sep
TENDER 37sc over Saturday at 722s d7211c.
Hhe visible supply decreased rs 900 BUSH
els. Worlds shipments last week were
7,6l5,0O0 bushels. The seaboard clear
ances were sS1. 900 bushels. Primary re
ceipts aggregated 1,5J5 600 bushels. Min
neapolis and Duluth reported 43l cars.
against 474 last week, and s69 a year ago.
Local receipts were 247 cars. LII Of con-
tract grade.
The bulk of corn handled changed hands
at prices at least 90 better than Sat
urday's level. There was a demand 50
frantic that IL would have seemed almost
reasonless, had It not been that traders
were again confronted with unlimited
reports of Withered crops throughout the
corn belt, and a weather forecast prom
ising no relief. September opened with
q chorus Of bids from 81 to 50. Selling
by local longs Influenced an early reac-
ton to Sc, but here the sweeping demand
from the country, as well as from local
people, caught the market and September
scarcely stopped advancing until $3.50 had
been paid for small lot. The close was
strong. 4$sc higher at 1855 G59lsc. One OF
the reports which was influential said
that railroad was carrying back TO
Kansas 1000 bushels of corn from Min
neapolis. It was said there were 10000
bushels more Of the Kansas grown corn
awaiting re-shipment TO the drouth-
stricken districts. Receipts were go cars.
The oats market advanced actively in
sympathy with corn. 1t was a wild mar
ket all day. and difficult 70 trade in, as
sellers were few and far between save az
the best figures Of the day. An enormous
business was transacted, both for the 10
cal and country account Receipts were
q cars. September sold between 961z and
SS1zc, and closed 3d31kc higher. at $50
SS14c.
Provisions were moderately active.
There was a sharp demand for January.
largely in sympathy with corn Septem-
Der was purchased on q mode moderate
scale September pork closed Sc higher,
at s14.57Ia: September lard sc Up, at S 20,
and September ribs 100 improved at S 90.
Estimated receipts tomorrow: Wheat.
SO cars; corn. 500 cars; oats, Is; hogs,
1900 head.