The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-13
BULLS RAN
PRICESUP
Except Activity in Oats Trade
of Little Importance.
ALL THE GRAINS HIGHER
Provisions Suffered and
Closed a Dime Lower.
ALL THE GRAINS HIGHER

Chicago. June 12.-Bullish sentiment put
grain prices up today. Trade was of little
Importance. save in oats. where there was
good activity. The scarce news. how
ever, was of slightly buIlish turn, and
at the close July wheat was AaSc up.
July corn 1sc higher. and July wheat was
l@G9sc UP. July corn sc higher. and July
oats nc up. Provisions were pushed down
ia most products and closed NC higher
to 1Oc lower.
Wheat opened bullish, with little news
upon which 70 argue strength Gables
we're Indifferent. but receipts were small.
There were more wet weather reports in
several localities in the west, and there
was continued talk of reduced stocks.
Cash demand, however, amounted TO very
little, yet the crowd felt bullish and
bought. This worried the fairly good
sized short interest and July opened "a
&c up, at 72a72lsc, and advanced to 721kc
| There was still some excitement in Min
neapolis. and prices there advanced. Later
the Liverpool cables reported an advance
III England futures on bad weather
French markets also were higher The
market was not destined 10 be broad, for
or the advance the leading elevator in
terest that has been bulling July and
selling September turned tactics, giving
strength to the further deliveries and de-
pressing July. The crowd tailed after and
July weakened somewhat. The close was
rather firm, July 14a7sc up, at 720721sc
Receipts were Is cars. one contract. Min
neapolis and Duluth reported 164 cars. a
total for the three points of 179 against
z96 last week and 446 year ago. Primary
receipts were 10000 bushels. compared
with $4,000 bushels last year. Seaboard
clearances equalled 1900 bushels. The
seaboard reported 20 loads taken for ex-
pert.
Corn was dull but firm all day. The
local crowd favored buying deferred fu-
lures. Prices advanced at the opening.
but when wheat lost some of its strength
higher, at sic. Much of the early
strength was based on the argument that
although receipts were liberal at 80 cars
the percentage of contract grade was
small. Crop reports are not particularly
bearish. especially those from Iowa and
Illinois.
Oats had the exciting pit of the floor
Shorts covered briskly early. There was
a strong demand from commission houses
and there was little pressure 10 sell. July
row Jumped from $3.50 at the opening to
1850. Receipts were very light. at IS cars.
with very little stuff contract grade. The
cash demand was steady. Proht-taking
or the advance was plentiful and eased
the demand so that most Of the advance
was lost There was marked independ-
ence TO the pit, and July new closed only
firm. nc up. at 3s24c.
1t suited the packers interests today
to push provision prices down. Hogs
ere weaker and the natural condition IA
vored a break. but after a little at the
opening the packers took UP the offerings
and again advanced prices. There were a
few shorts in ribs who covered and
caused an upturn, but after that was
over the packers found the pit so dull that
they could not unload pork or lard on any
one save at lower prices. July pork
siumped TO S1757l5. and closed Ice down
at $3.50; July lard closed sc lower at
SO. 80. and July ribs 71kc up. at sos, after
selling at s10.55.
Estimated receipts tomorrow: Wheat,
p cars; corn. S55 cars; oats, 105 cars;
hogs. 2S0c0 head.