The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-08-28
CORN LEADS GRAINS
Prices on Yellow Cereal Make
Fair Advance.
RUSSIAN CROP REPORT
Caused Wheat TO Open Weak
but Close Higher.

Chicago, Aug. 2.-The core pit was the
center Of attraction on the board Of trade
today and prices on that cereal made
an appreciabIe advance. December clos
ing Is TO nc higher. December wheat
closed &c higher. cats were &c higher.
but provisions closed unchanged to TIC
lower
Lower cables. combined with bearish
reports Of the enormous Russian crop.
caused weak opening n wheat. =
rush OF selling orders during the first
few minutes OF trading carried prices be-
low yesterdays closing figures, but the
sharp advance in corn helped bring about
a rally. The market was dull after the
opening pressure to sell was over, which
was partly responsible for the advance.
December opened unchanged 70 &c lower
at IL TO 7I5sc, and under the heavy
selling prices dropped to Use, but quick
y rallied, the high point being reached
al 72Ac. The close was strong and
&c higher, az 72lsc. Bradstreet's visible
supply statement showed an increase OF
100, 600 bushels Seaboard clearances in
wheat and -four were equal TO az, coo
bushels, and SO loads were reported taken
for shipment Primary receipts were l.
81. 900 bushels. Receipts at Minneapolis
and Duluth were s14 cars, against s9e
cars last week and Al year ago, while
local receipts were 223 cars, with Is OF
contract grade.
Corn opened somewhat easier, but a
strong local buying set IN and the mar
ket advanced rapidly and sharply. Hot
weather in the southwest caused some
apprehension and was partly responsible
for the advance. Fair buying orders
from outsiders were also factors IN
frightening shorts and the result was
one OF the best buying markets witnessed
for more than week past. December
opened Is 70 &c lower, at 80 TO 55lzc,
and Influenced by a run OF liquidation,
prices receded 10 55ttc, but when general
buying set in the advance was rapid, top
figures being reached az 573sc. The close
was slightly below the high mark. at
5714 TO $3.50, z gain OF is 70 144c- Re
ceipts were +S3 cars. 8 OF contract grade.
Oats opened quiet and steady. Buying
by outsiders early in the day caused mis-
givings TO shorts, who hastily took 10
cover and a rally set in which carried
prices from p TO 1c higher. The advance
in corn, however, was the main bull fac
tor. Prices were vel maintained through
out the entire session, although trading
was rather quiet during the latter part
OF the day. December ranged between
341s 6s4A and 35ssc, closing lac higher at
355sc. Receipts were 80 ears.
Provisions were moderately active. but
easier on fair liquidation OF both nearby
and deferred deliveries The opening was
steady. but large receipts OF hogs at
western points created weak tendency
which would have been greater but for
the strength in corn January pork sold
between SIS. 20 and S15.471a. closing with
a loss OF nc at the low point Lard
ranged between 8. III and S s21z. clos
irg a shade lower al sS.71z6S 50; ribs
closed unchanged at s. .ez1s, after selling
between s. 20 and s7-95
Estimated receipts tomorrow; Wheat,
105 cars; corn, 155 cars; oats, 10 cars;
hogs. =, 900 head.