The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-05-27
BULLS RAISE
GRAIN PRICES
Buying Incentive Is Cultivated
by All Conditions.
LARGEST GAIN IN CORN
Wheat Is Strong though
Opening With a Dip.

Chicago, May 26.-Buliish statistics, es-
peciaily big decreases in local stocks and
continued small receipts gave bull trad
ers good buying incentives today and fair
gains were made in grain prices. July
wheat Chased 4GSsc up; July corn Gaze
higher and July oats unchanged; proNls-
ions were weak and closed 1lzdlec lower.
Wheat showed good amount OF
strength all day. although early in the
session there was 4 short-lived dip on q
dull market Cables were weak, there
was promise OF better receipts from the
southwest and opinions differed about the
weather conditions. July opened shade
TO ls614c lower at 73AQT3ssc TO lS1sG f514c
up A fair commission house demand
helped prices along for time but prices
early fuctuated very narrowly because OF
good crop prospects When the visible
supply showed decrease Of 2.94s 900 bush
els and liberal decreases in local stocks
were taken into consideration bulls be-
gan to life prices. Stocks here during
the week had decreased 10000 bushels
and the northwest had lost 100000 BUSH
els Traders who had been in the coun-
try Sunday talked OF excessise rains IN
many districts. There was sole fair late
activity and July sold up 10 7S5sd74c, ma
terially aided by the strength in corn The
close was firm, AG%sc up at I57ss4ISs4e-
Local receipts were = cars, five OF con-
tract grade; Minneapolis and Duluth re-
ported 252 cars, making a total for the
three points of 272 cars against 80 last
week and AL a year ago. On passage stun
decrea sed 3S4 00o bushels World ship
ments were e.572, 900 bushels against $780,
900 bushels last week. of which a large
proportion was American. Primary re-
ceipts were 1872, 900 bushels compared TO
577. 900 bushels last year. Seaboard clear
ances in wheat and -four equalled 254,oo0
bushels.
Nearly every argument favored an up
turn in corn. Receipts although larger
than several DAYS ago were still much
smaller than necessary to replenish stocks
Cables were firm: cash business was good
and the crowd rather than sell short was
inclined 10 take all the scanty offerings
at better prices. Crop prospects were
good but rains were reported too excessive
and the weather too cool for best growth.
The southwestern markets also were bull
fish. Manipulation pushed up the nearer
options while the further deliveries show
ed firmness. The decrease in stocks help
ed the bull crowd manipulate July until
the July September spread widened from
2 to 25c July sold up to 63i4c and closed
d2,7kc up at 62N63ikc. Receipts 90 cars.
oats auiet and relied on corn for sup
port Fair offerings of May set the price
of that option back little. but other
stuff was tightly held and prices were
very steady Almost the only feature OF
the pit was the absence of desire to sell
stun. July sold at 3714d37ssc and closed
unchanged to 37ssc. Receipts were much
larger at 319 cars.
Provisions had to contend against the
weakening influence of a weak hog mar
xet AT the yards. Offerings were liberal
and prices declined easily. Late in the
day when the pit was dull there was
light rally on the corn strength but close
was l0c lower for July pork at sls-sI1s; f1sc
down for July lard at N0ioGl0l2lz and
7is67l0c lower for July ribs at s9-521zqe.o0.
Il Estimated receipts tomorrow: wheat
80 cars: corn 100 cars; oats 800 cars; hogs
q, 900 head.