The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-07-30
DAYS GRAIN MARKET
Rain Is Only Consideration in
Corn Pit.
GRAINS CLOSED LOWER
Provisions Close Trifie Higher
Except for Lard.

Chicago, July 29.-With the drouth bro
ken, the corr market today led a down
ward movement participated in by the
other cereals. Wheat. with other bearish
factors. contributing to the weakness.
closed &c lower for September delivery.
September corn closed 2lz to 2ssc down.
and September oats II to 15sc down.
Provisions closed a trife higher, except
for lard.
II corn there was but one considera-
tion-rain After weeks Of contemplation
of a sizzling hot weather map, unrelieved
by rain from one weeks end 10 another,
the interest of corn came into the pit
believing that a fair part of the crop
might be saved, and proceeded immedi-
ately to unload their holdings, with the
result that September was quoted stimuli
taneously from 521a to SAC, or 12sG112 to
27s03c under Saturdays closing price.
There was little else TO the trade save
liquidation, which was continued with con-
siderable activity to noon, when there
was a perceptibie decrease in the volume
of offerings. The price was kept well
under SIC all the session following the
opening, although there was a fair
amount OF covering by traders who had
were at their hest. During the afternoon
September was forced TO 52zc, and al
though there was a sharp rally 10 521sc,
the tap of the gong announcing the close
found the market weak and nervous.
September at 527sc net loss for the day
of 21ZG25sc. Receipts were 2lO cars.
4 potent combination worked TO lower
wheat values and prices nearly all day
were close to the bottom level. The corn
break was OF course, the chief factor,
but weak cables and bearish statistics
formed an array which together were al
most equally weakening. September open
ed q to nc lower, at 60 to 6S1ac. Liquida-
tons continued till the market having
experienced no rally of consequence,
touched 67tkc. This was near the end
OF the session, and reports of export
buying and an allegation that hail and
rain had injured the northwestern crop
created sufficient apprehension among
shorts whose numbers had been greatly
augmented during the day, to cause COW
ering under which September rallied 10
677sc The close was weak, &c under Sat
urday, at 67Ac. Exporters reported %
loads taken. Seaboard clearances were
565,0o0 bushels, while primary receipts
were 1.50S0G0 bushels, compared with l.
262. GOO bushels last year. Local receipts
were. 2S5 cars, 1876 of contract grade. Min
neapolis and Duluth reported S32 cars,
against 404 last week ana ~ a year ago.
Worlds shipments last week were 8 $4,000
bushels. and the quantity on passage
showed an increase of 3,032, 900 bushels.
The visible increased 1,5S3.00O bushels.
In the oats pit selling was on heavy
scale for the country account. the IN
huence being corn weakness. September
opened from 1874 TO &c. and almost in
stantly reacted from the low point TO
3Ss4c. Thereafter the market ranged well
under Sc, and closed weak, 112419sc lower
at 225kc. Receipts were 2i0 cars.
Provisions remained in the neglected 20
sition into which they have fallen dur
ing the grain excitement. The opening
was easy on the heavy movement, but
r,rices steadied later on buying for pack
ers. Fluctuations were narrow Septem-
Der pork closed sc higher, at S14.20; Sep
tember lard a shade lower, at $3.50, and
September ribs unchanged at $t-S'33.
Estimated receipts tomorrow: Wheat
$50 cars: corn, 20 cars; oats, $50 cars;
hogs, 1900 head.