The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-05-09
H WAS BUYERS DAY
Cash Business in Grain Was
Very Good.
JULY WHEAT CLOSED UP
Nice Advance in Corn, Oats
and Provisions.
ULY WHEAT CLOSED UP

Chicago, May sit was buyers day in
the grain markets today. There was
much hesitation early on weather condi-
tons. but the situation did not warrant
fresh pressure, cash business was good
and prices made good advances. July
wheat closed safe up; July corn S9ac
higher and July oats sc advanced Pro
visions closed l21sc 10 soc higher. Bears.
who had been hammering wheat prices
on favorable weather conditions, found
too many bull factors arrayed against
them today. The weather was good over
nearly al the wheat belt, and statistical
journals issued bearishly favorable crop
news, bat receipts were very SMALL. ard
the cash situation was very strong. Ca
bles also were comparatively firm VIXEN
oats depression was taken into account
After an early see-saw in prices bulls
took hold firmly and worked advances.
The cash situation HIS gradually devcl-
oped a strength that the traders say
probably viii influence speculation for
some time. Elevators have all the wheat
in sight. the country is Offering little.
and the elevator people have sold much
OF their holdings at July prices rather
than at the lower May prices. The result
has been a scarcity Of cash wheat at the
recent July current May figure. Today
May prices in outside markets advanced
July ard at one time here almost equaled
them. Added to this was a good corn
strength. Good cash sales were made
late yesterday 4 loads being taken Tor
export here Shorts covered freely. and
Tt-f,- -r.a-,aF rtc.re. 90 L. 80 -,
74asc to 74zc, sold up 10 747sc and closed
firm. sale up at 74ssc. Receipts. 3 cars.
none contract Minneapolis & Duluth
reported loi cars a total FOR the 3 points
OF 1el. against 25S last week and go a
year ago. Primary receipts were 10000
bushels. compared TO 80 cars last year
Seaboard clearances equaled St0ao
bushels
Corn ruled strongest OF the grains
today and made good advances. Yester-
days slump was not responded TO by the
foreign markets. and. although outside /
news was extremely bearisb everything
else in the situation favored the bulls /
There is little old corn outstanding. re-
ceipts continue small and the leading bull +
house is created with holding twice as
much long corn as there is old stuff visi- I
bic. After hestating FOR a time at the
opening, "tailers again took the bunish 4
view Of the market and bought literally +
shorts covered and then the Gull leaders !
sent prices mp further by taking in stuff +
in good quantities. Traders generally re- (
garded the position OF the bull party as +
such that at any open buying by il the 4
crowd quickly follows July early sold 1
as low as 6o1sc advanced 10 6lalc and /
after some liquidation for profits closed T
firm. ssQs4c up at aAG6lsse Receipts. +
l35 cars.
Oats showed strength and activity Of
their own. The early market was weak
on favorable crop reports but open bay
ing of July by the prominent bun oper-
ator in May options started "a good adj
vance. The cash demand also was much
improved ana Offices were scarce. july
sold early az S5c advanced TO 36ssc and
closed hrm sc up at 3s1sc. Receipts. lS5
cars.
Provisions were influenced for good ad-
rances 10y a continuation Of the demand
hat has marked the pit for several days
The hog market was strong and pack
rs gave the pit support Liquidation was
p the shape OF outside profit taking.
corn strength also helped In the up turn.
Tuly pork closed 5oc higher at s17.25. July
ard 11lsc up at S1922fz. and July ribs
gaze higher al s965. Estimated receipts
1morrow Wheat. so cars. corn. - ears.
,ats, 1t0 cars; hogs 1880 head