The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-03
CORN BULLS
SHOW SPUNK
With Pure Nerve They Turn
Weak Market Strong.
GAIN IN ALL THE GRAINS
Provisions Closed From Five
to Ten Cents Lower.

Chicago, June Bulls in corn were very
spunky today. Under very discouraging
circumstances they bought heavily and
turned weak market strong. Wheat was
| helped some by the hrrnness of coarse
| grains and recovered from early losses. At
the close July wheat gained a shade July
corn gained 1q1lsc and July oats &c up.
Provisions closed sc to 71zQloc higher.
| Everything at the start worked against
/ better corn prices.
Corn was helped some by the frmness
1 Liverpool resulted in lower cables, the
country sent in 523 cars of corn and prom
ised $40 for tomorrow and the crowd was
bearsh. a duh market prevented much
early business and July started 8 TO sc
down at 6lQ605<c and lowered around the
low prices for a time. Bears who had
the market all their own way for three
successive days plucked up courage and
began selling still further short, when
suddenly the big bull house that supposed
to have control of July stuff started in 10
support. Prices steadied from the de-
cline and soon the shorts began 10 cover.
The support was increased. offerings
dried up, everybody waited 10 buy and
the pit became a scene OF a semi-panic.
July corn jumped to s224c and shorts were
badly pinched. Toward the close there
was an easier feeling and at the close
July was 1Q11sc up at 622sq623zc. Country
acceptances were reported very small and
helped In the bull movement. Kansas
City was a depressing influence. being &c
down on July and &c down on September.
Good crop reports prevented many Of the
small bulls from buying.
Wheat was helped material by the
strength of corn. Conditions in wheat
were very bearish early in the day. The
general sentiment favored selling in spite
OF the fact that there had been good de-
clines for three days. Yet cables were
weak. the southwest sold on its good
weather and general report of forcing
weather everywhere after heavy rains,
commission houses were sellers and the
crowd naturally followed suit. Septem-
Der began TO pluck UP strength on buy
Ing by spreaders who sold July. A fairly
steady trade kept prices up after the early
dip but it was free covering by shorts
late in the day on the corn situation and
liberal seaboard clearances that turned
the price up. July opened 7sd1zc to 5z@Ssc
down at use to 71izc. rallied to 721zc and
closed firm, shade up at 721sc. Local
receipts were q cars, two Of contract
grade; Minneapolis and Duluth reported
34S cars. making a total for the three
points of 376 cars against ga last week
and SIS a year ago. Worlds shipments
were 7.712,Oo bushels against 9.672, 900 bush
els last week and $4,000 bushels last
year. Breadstuffs on passage decreased
.20S, 600 bushels. The visible supply de-
creased 2.025. 900 bushels. Seaboard clear
ances in wheat and flour equalled $4,000
bushels. Primary receipts were $4,000
bushels against 912 900 bushels last year.
Oats shared in the general depression at
the opening Crop reports were very
promising oats were moving 10 market
better: the May bulls care was out of the
way and the commission houses sold here
and there. Trade was light all day ow-
ing to the restriction by heavy receipts.
The corn strength helped prices late and
July, which had sold at 36c advanced to
SIC closed firm, sc up TO S6z4c. Receipts 552
cars.
Trade in provisions was restricted and
without much interest. Opening prices
were lower on a free movement of hogs.
~ prices which were weak early grad
ually strengthened and on a good support
by packers and the grain strength. the
provision list firmed up and closed. July |
pork nc higher at Sl7171A; July lard sc |
up at s10.25 and July ribs T1zdl0c higher |
at 9.s2l5.
Estimated receipts tomorrow: Wheat. IS |
cars: corn. $50 cars; oats as cars, hogs, |
q 900 head.