The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-08-07
BULLS DOWN
IN MOUTH
Reports of "Crops the Finest
Ever" Give Them Pain,
WEAKNESS IN CORN PIT
Wheat Closes Shade Down
and Corn Lower.

Chicago. August s.-Bulls IN the grain
pits were geauy discouraged today over
the glowing reports from The harvest
fields. Everywhere came in advices Of
Crops the finest ever" Corn promised
a bumper yield and with splendid weather
for harvesting spring wheat prices
slumped of. Some good export sales OF
wheat late in the day steadied wheat and
shorts were afraid 10 sell more oats. This
helped late prices At the close septem-
Der wheat was a shade down September
corn was 1lsc lower and September oats
unchanged. Provisions closed unchanged
to Ike higher.
Corn weakness developed early as re-
suit of the great promise of the growing
crops. cables were lower and heavy sales
were ordered from all sources. Little
support arrived. and the crowd held 70
bearish sentiments on the exceptionally
good weather. The Missouri cop report
indicated from present appearances a
total yield OF nearly 30o0oo. coo bushels,
compared to only 81 o000 co bushels last
year That report was emphasized By
news arriving from private sources and
caused extreme heaviness and quick
slump. September sold early AT 5G3se on
run OF only y cars of corn today, but fell
back on the heavy selling TO SIZE Cover
ing brought the best support. although
the report Of only 20 cars TO come tomor-
row helped in a late reaction. September
very weak 1l4c down az 545sc. Not car
OF contract grade corn arrived today.
Wheat had a good support in spite Of
the very great array Of bearish infu-
ences. Gables were very steady compared
to the weakness here yesterday. and
clearances and exports were fair. This
influenced a fair support BY leading ele-
vator interests. and brought a steady
close after several breaks. Fine weather
vas reported in the spring country. and
harvesting was on as far north as middle
Minnesota and southern North Dakota.
The report OF the Missouri crop estimate
estimated a yield Of g.. 900 oO0 bushels.
compared TO q go 900 bushels last year.
Receipts were still IN excess Of those of
last year, but contract grading was still
low September opened i4Qi5c down al
ssh Csc. sold up at 6sls G6s14c. dropped
10 6slzd6S5sc and closed steady a shade
down at Sc. Local receipts were So cars.
Of contract grade Niinnea polls and
Duluth reported 81 cars. making total
for the three points OF 40 cars. against
30 last week and S53 year ago. Primary
receipts were 11740o0 bushels, against l.
Pc eco a year ago. Seaboard clearances
in wheat and -four eQualled SO 900 bush
els. The seaboard reported 16 loads taken
for export. Duluth shipped sloads. and
this point took charters for 6o0, coo bush
oats ruled the strongest Of the grains
because of an absence Of any selling
pressure Receipts were not large. and
September was in good demand from
commission houses. Offerings were light
in spite OF an easier cash situation on
cheaper offerings east by Indiana and
Ohio. The easy tone in the other market
close was steady and unchanged at Sl7s1
SIC for September. Receipts were 50 cars.
Provisions were supported we'll by pack
ers. and the market ruled very firm.
There was none Of the recent outside
liquidation and very light offerings caused
advances. Corn weakness caused some
thing Of z reaction. September pork
closed Pike up at ss92is. September lard
unchanged ar Sass and September ribs
PIC higher at $3.50.
Estimated receipts for tomorrow:
Wheat 20 cars; corn. 80 cars; cats. IS
cars; hogs. o. GO head