The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-08-26
CORN LEADS
ALL UPWARD
Congestion in Local Stocks Is
BuIIiSh Factor.
DULLNESS IN OTHERS
Wheat Was Only Active at
Odd Moments.

Chicago, August 25--Corn led all other
grains in the pit IN point OF activity and
price advances today. Other markets
were inclined toward dullness and Al
times almost no one was in the pits.
Congestion in September corn, with big
decreases IN local stocks and fears OF q
natural corner, were the buIlish factors.
After an idle hour the other grains ad-
vanced IN sympathy and az the close Sep
TENDER corn vas lisc up, September
wheat z4d7sc higher and September oats
nc advanced Provisions closed -1-1l21
higher
Corn WAS very erratic. The opening in
dicated a possibly pad slump on the Of
fering OF q small quantity % September
and on fairly good Europe reports Ca
bles. however were strong the outside
markets. especially St Louis were higher
on rain reports from Iowa and heavy buy
ing by prominent elevator interest fol-
lowed The market gained strength rap
idly on the continued small receipts and
poor grading, only 10 lose part OF the ad-
vance again as soon as the longs wanted
70 take a little profit. Stocks Of corn
here have decreased rapidly during the
past week. until today there were only
2.0e5 600 bushels on hand The general
gossip was that II any Of the big shorts
started TO cover their lines with this.
prices would jump. Naturally following
such Z condition. the market nervously
responded 10 every bid or sale. Septen-
Der opened steady at $50. G5S1zc. dipped 20
sac, advanced 20 5s7.c~ lost nearly &c.
but rallied briskly and closed strong 1isc
up. at 5s1zc. Receipts were IS cars. 5
OF contract grade.
Wheat was only fairly active at odd
moments Cables were lower and the
weather northwest was favorable The
crowd was inclined TO be governed almost
entirely BY conditions in the spring har-
vests. but the very poor grading pre-
vented them from selling much Septern-
Der was hard 20 buy and was taken freely
whenever offered. There was no good ad-
vance. however. until corn showed good
strength and the cash demand was re-
ported improved. Later the northwest
bought fairly and then on excellent sea-
board clearance prices made good gains
Outside markets showed a better --ce,
the southwest had good sample trade
and Duluth sold for export September
started &c lower TO &c up, at 1llz0 ll7sc,
and after selling at IKE, closed strong
1sd7.c higher. AZ 724sQ72lzc- Local re-
ceipts were 267 cars. onlV q contract
grade. Minnea polls AMI Duluth reported
400 cars making a total for the three
points OF 67S cars, against 60 last week
nd sT5 a year ago Worlds sh.p meuts |
were bullishly smaHe- than expected 81
S $50 0c0 bushels. against 9,7p 90 bushels !
last year The visible supply increased J
80. 900 bushels Primary receipts were |
!. ~, no bushels against i,56SeO bushels /
last year Sea board clearauces in wheat /
and -four equaIled 1900 bushels. Bread /
stufTs on passage increased 304,0o0 bushels !
Oats were weak early IN the day on fair /
selling Trade was dull. but when corn /
advan need the bullish factor q every light /
grading had its effect and prices ad- |
vanced The outside did some buying. /
Crop prospects were good September |
sold from S3l.cG35ss to S2zsc. rallied TO
SS7sc and closed stronger sc up. at Sac !
Receipts were 2s6 cars, only Of contract /
grade.
Provisions were fairly active and /
strong Higher prices for hogs on very /
small run and good support early by the |
packers were the bullish factors Toward |
the close profit taking brought slight |
drop. but September pork closed 121zc up. /
AT s1s. s21z. September lard PIC higher. at 4
SO s7ls September ribs PIC up. ct Slo--o- 4
Estimated receipts for tomorrow
Wheat 40 cars. corn. . cars; oats. 30 /
cars; hogs. 1890 head.