New-York tribune., 1901-07-23
CHICAGO GRAIN PRICES SOAR
BIYING FOR FARMERS TO FEED THEIR
CATTLE A RESULT OF THE
HEAT HORROR.
rBY TELEGRAPH TO TIE rRrBuNE.l

Chicago, July 22.-Corn. oats and wheat ad-
-vanced sharply the Board Of Trade to-day,
price fluctuations at times bordering on the SEN
.safionaL The pits were crowded to the limit
with perspiring brokers' who, sans coats. sans
waistcoats. sans collars, shouted themselves
,hoarse attempting to ill buying orders. Wheat
and oats opened nearly two cents higher. and
corn two to four cents higher. The initial wild
mess was a good forecast Of the day. Buying In
AL the pits continued with unabated activity to
the end. Wheat rose to 1914 cents, five cents
higher than Saturday nights close. Corn went
ito 597s cents nearly five cents better than Sat
nurday's final figures while ats advanced to
3Sh cents.
Realizing sales became more numerous and
consequently at the top. especially in wheat
but the close found the major part Of the sem
sational gains strongly held. Wheat closed 31s
cents higher. at 723s@721s cents; corn, As cents
higher at 592s 0591h cents and oats, oqo3s Genus
up, at 3S54 G3SK cents. There was buying ny
the professional short. who. accustomed to take
his profits and his losses alike without an extra
uou.se beat bid sharply but calmly to make MS
speculative loss light as possible, but there
nvas also buying OF another kind-for the far
eler, whose promising helds are oeao unoer
nbe scourging skies.
In the corn pit this demand was most proni-
pent In Kansas, Nebraska. Missouri, in parts
of Iowa and in other sections where the vista
aion of the heat horror. as they are beginning
ito call it, has been most pitiless. the farmers,
hopeless Of anything but loss OF money ana
most of their seasons work, want grain as 1000
for their cattle.
Not only must food be bought in distant mar
iets but in many sections a pond or water IS
as precious a Jewel, and must be Wen palo
Tor by the whose parched acres contain no
such prize. Grain spectators made rush TO
buy as soon as the opening signal started the
session
The vsthering heat of Sunday had made them
fear the worst for the corn and spring Wheat
crops, coming as il did on top OF SO much preVl-
,ous damage from similar cause Traders were
excited in their eagerness to find sellers or the
grains that are being destroyed by the blazing
sun Sellers were few and reticent, buyers
many and vociferous. and it took leads of
cents a bushel over Saturdays price of corn to
entice those who had it previously bought TO
part with any.
The excitement in the corn pit was intense
and in oats IL was of smaller degree only be-
cause the crowd somewhat less numerous
The rise in the price of at the immediate
.opening from two cents to two and one
fourth cents a bushel. An advance Of much
as one-quarter cent bushel in oats in a day is.
in ordinary circumstances most unusual; so the
intensity of the demand may be imagined by
comparing that with what happened this morn
ing.
Wheat has hitherto resisted an advance be-
cause of the splendid crop of fall sown grain
that has been harvested and the promise Of q
spring wheat crop of equal character The in
tense heat, however, has shrunken the still un-
ripe spring wheat, and 1t Will be much smaller
crop than was previously Indicated That
change in the situation made buyers of wheat as
clamorous those in the corn and oats crowd
They paid at the opening Of the market
nearly cents a bushel more for September
wheat than il was bringing when the session
ending Saturday. 1t was worth then 6S1z
cents, and this morning there were hundreds
shouting for it at from 90 cents up to 10as
cents bushel. In the country feeders OF cat
tie and hogs have already begun to fatten
their stock with chopped wheat and low grade
-four in places where corn and pastures have
been almost completely destroyed.