The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-08-03
WEEK CLOSED
WITH A RALLY
Tone of the Grain Market
Better Than for Weeks
SHORTS FEELING UNEASY
All Grains and Provisions
Closed Higher.
SHORTS FEELING UNEASY

Chicago, August All speculative mar
kets on the board of trade closed the
week with strong rally. \ tone much
better than had existed for weeks made
itself manifest in healthy active trade
in most of the grains and although the
country side was not heavily in the mar
ketket. there was promise for much bet
ter business with the bugaboo of the July
corners laid at rest. Scarcity Of contract
grains for immediate marketing-whea
corn and oats-made the shorts feel I'M
easy all session and although receipts
in wheat still exceed those of last year
the excellent cash demand especially for
corn and oats brought higher closing
prices all around.
At the end September wheat gained "a
&c; September corn 1alhc and septem-
Der oats ssq&c. September provisions
closed 15c to 273hc higher
Bearish conditions were arrayed against
wheat prices at the opening OF trade
Receipts locally were one-hfth more than
were expected, the weather excellent and
the talk was for good spring crops.
Liverpool had a holiday but London and
Paris were firm and September showed
only slight easiness on first sales. Con-
tract arrivals were almost nil, four cars
today out of S37 cars received. This start
ed much comment and gossip which had
a trend toward curtaned receipts soon
now that the rush of new wheat to mar
ket was supposed to be over and caused a
scurry among shorts TO cover. New York
and leading bull interests were buying
September freely and in consequence good
advances were made quickly Liquidation
at top prices brought slight dips. but
local sentiment was so bullish that the
close was strong. Much of the strength
came from the absence of free offerings.
No. northern cash wheat also was sell
ing &c over September prices The near
option was bought more freely than De-
cember and advanced over the witer
months from &c yesterday to 1ssc at the
close. September opened sc lower to &c
higher at 697sc to 70lsc sold to 707sc and
closed strong 9sG&c up at 7O5sG&4c. Min
neapolis and Duluth reported 122 cars, a
total for the three northwestern points
OF 459 against 461 last week and 4l6 a
year ago. Seaboard clearances in wheat
and -four equalled $4,000 bushels. Primary
receipts were l ,O51, 600 bushels compared to
100000 last year.
Corn receipts amounted to only SIS cars.
contract grade. With such scanty re-
ceipts as this market has had for the
last week and with still smaller esti-
mated for next week, there was naturally
very little stuff offered in the pit. Private
elevators turned out nothing The cash
demand was excellent and In addition the
fasteners who expected to be flooded by
the outpouring of cash corn thai was
brought to market by the July corner
found their stock so depleted that they
had to increase bids I've today to secure
stuff. Still another bullish factor was the
buying by the houses recently heavily
interested in July oats. There was no
selling, save near top figures for profits
and the result was strong and steady
advance. September sold from 561zc to
5sc and closed strong 1G1lsc up at 572.G
&c.
oats were in excellent demand and the
pit ruled firm and active The frmness
in other grains and the premium of 10c
for some cash grades over September OPP
tons with a good cash inquiry for ship
ment. pushed prices up. There was a
little profit taking. but the bull sentiment
ruled uppermost September sold from
s2lsc 10 3slsc. closed firm SsaAc higher at
S27s9s9c. Receipts were liberal at III
cars; crop prospects good.
Provisions were fairly active and for
time unsettled. The weaker hog stu
alton and pork selling depressed prices
early, but very good demand for lard and
the reduction OF stocks during July in
huenced late buying and prices closed
strong. September pork closed 15c up at
Sl6.S5; September lard l5c higher at SO 921S
and September ribs 271hc up at sl055. Esti-
mated receipts for Monday: Wheat 80
cars; corn. 40 cars; oats. 40 cars; hogs.
5000 head.
GRAIN AND PRODUCE MARKETS
Chicago.