The Wichita daily eagle., 1901-06-04
DAYS GRAIN MARKET
Wheat\ Market Showed a
Sharp Advance,
MARKET NOT STEADY
Corn Was Dull; Oats Active
and Firm.

Chicago, June s.-Rumors OF manipuIa-
tion involving a corner IN the wheat mar
ket caused a sharp advance today during
an active session, the July delivery clos
ing 214 G22sc higher. July corn closed &c
lower, July oats q shade lower. and July
provisions from unchanged 10 10c lower.
Disappointing cables, an increase in
quantity on passage and reports OF rains,
exerted a bearish influence at the open
ing Of the whole market Under liberal
offerings the July delivered opened 15dz4c
lower, at 74s4q75c. Nearly all the wheat
put out was taken quickly by a few
commission house which apparently had
instructions 70 buy irrespective OF crop
conditions and thencefOrth the weather
ceased TO be a factor. The crowd that
sold early soon learned where their wheat
was going. clamored to buy back at the
commission houshrdletaOcnfWy fW yppupj
improvement It was rumored that large
commission house, said 10 have bought
1osVVOUJ0 bushels OF the July last week,
was preparing TO execute a squeeze. This
became the ruling influence and July sd-
vanced sharply 70 T6&sc. The temptation
20 take profits resulted IN a reaction 10
761sc, but under bull support and an IN
expectedlS big decrease IN the visible, the
upward movement was resumed until nc
with building the corner, put out 1900
bushels and for moment the market de-
clined &c. Holders OF long lines was OBJ
stinate, however, and again the price ad-
vanced, shorts bidding 10 7sisc. At The
price there was considerable liquidation
causing a slight decline. The close was
strong and 2zd2ssc higher, At ia d777sc
The visible supply decreased 3,l32.00 BUSH
els. Worlds shipments were $4,000
bushels. The quantity on passage in
creased $4,000 bushels. Primary receipts
were s12.229, against 1.o36 600 bushels last
year. Seaboard shipments Of wheat and
-four were equal 70 LIS, 90 bushels. Fif-
teen loads were reported taken for export
Minneapolis and Duluth reported 6CS cars.
against 40 last week and SO year ago.
Local receipts we're So cars, none OF con-
tract grade.
The corn market was dull as wheat was
active. but secured considerable benefit
from the strength in wheat. July opened
unchanged to &c higher at 45ls to 45Lo
en- small receipts Of contract com, and
advanced TO ~ d45aso on covering by
shorts. Later It broke under selling by
the bull leader 70 44zc. Helped by wheat
there was a subsequent rally and the
close steady and 1sc higher at 453zc- LO-
ca receipts were 257 cars. 81 Of con-
tract grade.
The oats market was fairly active and
mission houses were apparently supplied
with selling orders. The buying was
scattered and mostly local July sold
between 2s14 lI2Sasc and 2S5sG2Sa4c, closing
steady. q shade lower at 2s1zo. Local re-
ceipts were 4S2 cars.
Provisions were dull, but the drag
ging market was helped by the strength
In wheat. Pork and RIBS were IN good
supply, and there was some demand for
lard early, but that commodity was
easier toward the close, selling by com
mission houses. July pork sold between
81 .521a and S14. 621h, closing easy and 10c
lower at s14-55. July lard sold between
S. 121sgs 15 and S. .171AaS. 80. and closed IN
changed at S8.17. July ribs ranged be-
tween S7.S21sg7- 7-S71z and closed SC lower
at S7.s5
Estimated receipts tomorrow: Wheat.
$50 cars: corn. $50 cars; oats, $50 cars;
hogs. 5000 head.
GRAIN AND PRODUCE MARKETS.
Chicago
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