The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-05-10
Trading WAS QUIET
Spectators Waiting for
Government Crop Report.
JULY WHEAT CLOSED UP
Provisions Were Very Strong
and Higher.

Chicago. May s.-Grain TRADING was
very quiet today. waiting for the govern
ment report on the crop situation. which
IS expected tomorrow In spite Of the
slowness Of the market, however. a very
firm Undertone prevailed and July wheat
closed sc higher, July corn 14Gssc higher.
ard July oats &c up. Provisions we're
again Independently strong and closed
Il 20 IKE advanced.
At the outset wheat showed a fairly
firm tone On the colder weather in the
northwest. dryness southwest. with re-
ports OF still further retarded spring
wheat sowing because Of moisture and
crop damage reports from Kansas. Yes
terday's cash situation was still bullishiy
effective and handlers of cash stuff still
reported a continuance OF the demand
aroused during the recent decline.
There was some expectation that the
government report would lower the hg
ures of the previous month, but the recoi-
lection that prices generally break on
the government together with the fact
that conditions in winter wheat have
Materially improved since the government
observations were made. retarded any
good advance on this factor. Offerings
were light and receipts were small. Al
though the demand was only fair il was
sufficient TO hold up the market A fair
export business vas done al the seaboaFd,
eighteen loads being reported. The Mich
igan state crop report showed a condi-
ton Of s. against s. last month. Alinneap-
Oils and Duluth reported that stocks
would show a decrease Of one million.
Or these influences July. which opened
unchanged 70 re higher. at 745sd7f4tc, sold
NJ 70 75c, fuctuated narrowly. and
c.osed irm. sc up at 74@sc Local re-
ceipts were 81 cars. Of contract grade;
Minneapolis and Duluth received I53 cars.
making a total for the three points OF
"a cars. against 292 last week and 2S3 a
year ago. Primary receipts were 2iS.0o0
bushels. compared to 2f5.Vo last year
Argentine shipments were $1,000 bushels
against 1.0l2oo0 bushels last week.
Although corn trade was slow much OF
the time in sympathy with waiting wheat
market the tone ruled strong under the
prevailing bullish sentiment. The opening
was higher on the wheat advance and
colder weather but the continued small
receipts, declining stocks and the good
cash demand governed the pit As usual.
of late, the crowd quickly followed the
lead Of the leading bulls. September
closed with a gain of SC at 6lSsc, and
July. after selling at 6l7sc, closed Ease
up. at 615sc. Favorable weather for seed
Ing ana growth OF the already planted
corn seem not 10 effect an increase in
country offerings. Receipts were very
small at 70 cars
Oats experienced a strong and fairly
active market most Of the session. The
leading bull professionals in May options
was in the pit buying fairly, as also
we're several big commission houses.
There is still some fear of manipula-
ton OF the pit by the principal bull.
Corn strength caused part Of the up
turn. but receipts and offerings were
small. shipping sales were large and the
cash premium. Influenced the market, but
L closed strong ct its top figure Ssc
higher at 36a4c. Receipts We're 80 cars.
There was some fair liquidation for
profits in hog products but it was not
sufficient 10 Tetard q good advance
Prices were higher all day and the tone
ruled strong on the higher prices at the
Yards on a good packers support and
outside buying. July pork closed 17i2c
higher. at sI7.32iz; July lard Ice up. az
30 .S21z, and July ribs 7l2c higher, at
S. 72l2.
Estimated receipts for tomorrow: /
Wheat. % cars; corn, 81 cars; oats, 100 /
.ars. hogs, 5000 head.