The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-06
FAIRLY ACTIVE
BUT ERRATIC
Wheat Loses All the Advance
1t Had Made.
WEATHER HELPED CORN
July Oats Gained Slightly but
Provisions Fell Lower.

Chicago, June 5.-Grain speculation was
fairly active today, but of an erratic ma
tGre. For a time it seemed that the bear
fish campaign of the last week had come
10 an end and that help was coming
from the weather conditions which, in
stead Of being fine, were too well south
vest for the early haryests. Wheat had
a good advance. but lost it all The wet
weather, however, helped corn. IN the
end July wheat lost &c, July corn gained
&c, and July oats gained &c. Provisions
closed 21zd5c to 121k9l5c lower. AS a re-
suit of the excessive rains southwest over
large portion of the winter wheat coun-
| try commission houses had good buying
orders at the opening. There was still
| out a good-szed short interest and both
| the leading elevator interest and the corn
bull crowd supported the pit. These in
| fiuences were too much for the unrespon-
sive cables, fair deliveries and bearish
statistical journal repCtts. Export bust
ness was poor and shipping sales here
were nil. With shorts covering freely at
the start, July made opening sales at a
shade lower to 1sqHc higher, at IFS 70
I21sc, and after some wavering touched
7zssc. The wet weather was working
against improvement in the spring coun-
try, but despite this influence and the
good show of corn strength, the early
buyers were satisfied with small profits
There seemed TO be no faith in the bull
side Of the early bulge, and general liqui
dalton brought a sharp slump for July
down to 71ild717sc. The outside interests
are very small in the market at present,
and traders feel that this is partly the
reason for the liquidation of stability OF
the buying crowd. There was a partial
recovery toward the end of the session.
but July closed weak. &c down. at MA
7I5sc. Reports from Minneapolis say that
mills there will close soon. Receipts were
II cars, of contract. Minneapolis and
Duluth reported 2S4. total of 296. against
22i last week and 3sS a year ago. PrI-
mary receipts were $4,000 bushels. COM
pared to 465, 900 last week. Seaboard clear
ances equalled 42e. 900 bushels. The sea
board reported Is loads taken for export.
Corn spectators were inclined to a
bearish view of the market. but prices
acted against them Considerable strength
was shown most of the session. although
much of the advance was lost when
wheat broke. Today the puzzle in this
pit was the jump taken by December of
nearly &c. Yesterday the feature was
the switching from July to September by
the big bull leaders Which ever way
this Interest leads the crowd seems to
follow. At 44c or under, December op-
lions seemed very cheap, and the price
unnatural in the light of hullish opera
tions I'm other deliveries. This was an in
ducement TO buy and December shot up
10 44Ac. July sold up to 62isc, aided
partly by water in the fields. Late in the
day the fluctuations were narrow. Sep
TENDER was offered more freely. July
closed firm, nc up, at 62lsd 81. Re
ceipts. % cars. Country offerings were
very light. largely due, it was thought, tc
the wet weather retarding the movement
Activity and influential buying marked
the trading in oats July, new standard,
was specially in demand. The cash stu
alton seems to improve daily-in the three
days sales of over 1000. 900 bushels being
made There was some influence from
other grains. but the close was strong.
The principal bull argument for new
July is that cash stuff tat present at 44c,
or thereabouts). is practically all that
can be delivered on new standard con-
tracts. July opened firm and advanced
to SOC, closing strong, &C up, at 3s7sc.
Receipts. ~ cars.
Provisions ruled weak. There was
marked change in front by the packers
v no have been buying of late. and when
they appeared as sellers prices broke. An
easy market also was a bear'sh incentive.
July pork closed 12lsdl5c lower. at 1890
II 221z; July lard 2izd5c lower. at SO. 2od
10 221z. and July ribs nc lower. at
s10.07l1.
Estimated receipts for tomorrow:
Wheat. Is cars; corn. 255 cars; oats, "a
cars; hogs. $500 head.