The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-20
WHEAT TAKES
FIRST PLACE
Corn Being 0ut-Jumped by
the Smaller Grain.
WET WEATHER IN KANSAS
Cuts Considerable of a Figure
in BuIIiSh Tendency.
WET WEATHER IN KANSAS

Chicago. June 1s.-Corn, although fair
" active for an ordinary day, dropped
back into second place today and nap
ped while wheat made a good running.
For some reason not entirely clear,
France needs American wheat. Chicago
sold direct to Paris and on this influence
in connection with the wet weather dam
age talk. July wheat made a net gain
Of 75q1c. July corn closed 54c down and
July oats 1sGAc up. Provisions were
Independently strong and closed 15c higher.
Wheat ruled uniformly strong through
the session. AT the start Paris cables
showed rapid advances, spot being as
much as 314c higher, while deferred fut-
ures showed 115c advance. There was
talk Of some deal on in Paris. but it
must have been OF great proportions for
it influenced material upturns in -four.
Wet and cold weather abroad was talked
Of and some traders were of the opin-
ion that French stocks of wheat were
about depleted. 1t takes 700 goo bushels
weekly TO supply that country. Kansas.
where cutting is now in progress, re-
ported much moisture in the yield and
that a considerable quantity of harvested
wheat would not grade contract because
Of the dampness. This talk alarmed the
shorts. Covering started a good upturn
and stop loss order were met on the
advance. July opened a shade to 1sG14c
higher at 72ik to 72ssc. dipped TO 725sd Z
and then mounted steadily at 751zc.
After some fair early strength shown in
the corn pit by reason of desire OF a
few belated shorts 70 cover. this pit as
sumed something of a asomolent state.
The feeling was still Intense and at times
there was little excited fuhrries. Prices
al such times fiuctuated somewhat errati-
cally. AS the day wore on however, it
became. apparent that the bull leaders
were letting the market take care of
itself. Some fair offerings broke prices a
little and in the end the market was
somewhat weaker though as compared
TO yesterday the close was very steady.
Naturally July was the more active OPP
ton. September fuctuated only SC
There was some selling by comission
houses, but in general there was no pres
sure. The demand also was light. July
sold between &c and 65c, covered differ
ences of sc several times and closed
easy &c down at 65lkc. Receipts 1S7 cars.
Is contract. Private elevators made 200, !
600 bushels of contract TODAY.
Oats were duh and worked over a range
of only &c. Crop reports were anything
but encouraging; receipts stin showed a
poor showing of contract stuff and the
cash situation was still strong. July
opened unchanged at SEC and closed 1sd1z
up at S91sGa4c. There was almost no sell
ing pressure. Receipts were 112 cars.
Provisions showed good strength and
fair activity. Hogs were under the es-
innate and commanded higher prices.
The cash demand was good and although
packers were known to be manipulating
prices it was said they bought most of
the stuff offered because they had sold
literally of cash stuff. Stocks in Chicago
at present are estimated at 1000 tierces
increase in lard and 100000 pounds in
crease in ribs. July pork sold at $3.50
and closed 15c up at s1L75: July lard
closed l219a15c up at S1OS5 and July ri5s
15c higher at S10s2l4. Estimated receipts
for tomorrow: Wheat. IS cars; corn 255
cars; oats, 100 cars; hogs. 1850 head.