The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-08
RAINS SCARE
SPECTATORS
Bears Fail to Manipulate the
Chicago Market.
WET WEATHER ABROAD
Has Dampening Influence on
All bui the Bulls.

Chicago. June Excessive rains wal
the bugaboo Of the grain bears today
but this session the cables also told o.
the same bad weather abroad. IN conse
quence little support of an adult marke-
was sufficient to bring strength, and july
wheat closed sc up, July corn 4@7sc
higher. and July oats a shade down Pro.
visions closed a shade to PIC up.
Wheat took a strong strip on the mar
ket early and worked its prices some
what on cables and fears OF wet har-
vests. In France the harvest is almos,
due and prices are advancing on an old
precedent that in former times wet
weather such as they are having hurt the
crop much. Here there We're plenty OF
bearish influences. but additional rains
after the already heavy down-pours start
e: coveringI and good support Bulls
argued that the present low prices could
be justified and they, on the assumption
that the year yield was TO be exception
ally large. There was very little selling
pressure on the market early, and good
buying came from commission houses.
July opened Ssqlzc higher at nAG72asc.
and sold a PIC. Gradually the support
o. the large interests were withdrawn.
the report that cutting was going on in
the southern part of this state and that
the wheat would be on the market within
a week led to. some selling. and July slid
off to 7lNQ72c. After that the market
haggled narrowly with a small upturn on
liberal seaboard clearances of wheat and
flour, which amounted to 620.OG0 bushels
The close was firm, July sc up, at 72Hc
Receipts were Z cars, one contract. Min
neapolis and Duluth reported pa, a total
Of PSI. against 500 for two days last week
and 43s a year ago. Primary receipts
were $4,000 bushels. compared with 40 OO1
last year. The seaboard reported fourteen
loads taken for export
Corn was dull. but firm. The wheat
strength, together with the strong cables.
Influenced an upturn. as did the talk Of
poor cultivation of the growing plant be-
cause of the wet fields. The leading bulls
save some small support and St. Louis
bought July fairly well. Prices held well.
but there was decided feeling that with
the possibilities of $500 million bushel
harvest prices were too high. Most of
~ N0s tAAS Nttnd hdo SttSSAAlS dL the
attitude of the leaders. July sold be
tween 632s and 6e7sc, and closed firm, 54gss
up. at 631sc. Receipts. 337 cars.
liquidation took some of the strength
out of oats. Influences favored the bulls
Receipts also are light. with a small per-
centage of contract stuff Today commits
sion house business was fair and July
opened ssc higher. at 1850. and sold to
3sSsc Trade was active. covering shorts
nccount brought strength, but buyers Of
new July around Soc realized their profits.
and after the balge prices eased on an
absence OF support. July closed barely
steady. a shade. down. at ISIS G3sAc. Re
ceipts, III cars.
Provisions had dull and artificial
trade. The hog market was higher on
a smaller run of hogs. This gave the
packers a reason for manipulation a little
higher prices for the purpose OF unload
ing on the outsider Outsiders under
stand the manner in which packers are
the market are staying out
July pork closed steady. 2kc up. at
81 4239l July lard shade higher at
'lo. 25qlo. 275z, and July ribs PIC higher.
At Sl0.17ls.
Estimated receipts for Monday.
Wheat, 80 cars; corn, 425 cars: oats. 100
airs; hogs, 5000; hogs for the week.
"a. 600 head.