The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-27
CORN BULLS
MAKE A RAID
Violent Twisting in the Prices
of Grains.
MARKET STARTED WEAK
Wheat Off, Corn Up and Pro-
visions Higher.

(
experienced something of a severe twist
from the bear to the bull side today. All
markets started out weak and were de-
pressed into a position where they could
he raided easily. The raid came under
the direction of the big corn bulls and
prices switched about violently. The tone
became much mixed, although the bulls
were in The majority. At the close July
wheat was sc lower. September sake
higher; July corn &c up. September sc
higher and July oats PIC up. Provisions
closed unchanged TO TIC higher. Wheat
had a number of bearish influences early
in liberal northwestern receipts. new
wheat coming into the market and favor
able weather for harvesting Added to
this was the absence of trading for the
rest of the week in English markets.
Both liquidation and short selling brought
an early weakness in the leading grain
although September held up better than
July. Both options started 1sg54c lower,
July quoted at 7313d7Szsc and getting
down to 73c. and September selling as
low as 71asc. After the bears had gotten
fairly in the trading led by some sell
ing by elevator interests, the big corn
bulls bought over LOCO 900 bushels of the
September Then came word of rain IN
the southwest and of grasshoppers in
North Dakota and disappointing thresh-
ing returns from Ohio and Indiana. July
quickly sold TO 1874 and September to
7212Q5sc. Liquidation again brought a
change late in the day, July closing weak,
sc lower, at BIC, and September firm,
14q1zc higher, at 721sQ1<c. Traders
credit the present mixed conditions of
the wheat pit to manipulation. Local re-
ceipts were eighteen cars, three con-
tract grade; Minneapolis and Duluth re-
ported 345 cars. making total for the
three points of 5s5 cars against "a last
week, and 3S4 a year ago. Primary re-
ceipts were $4,000 bushels, compared to
5000 bushels last year. Seaboard clear
ances in wheat and -four equaled $500
bushels. The seaboard reported fifteen
loads taken for export.
Corn had an active heavy trade. with
the greatest interest centered in Septem-
Der. There was liberal buying Of this
option by the bulls after an early break
was not much in the way OF news. Re
ceipts were small. but were in excess
Of last years. July options were de-
pressed early by offerings by bulls, and
then shorts were forced TO cover by rea-
son OF an advance in price TO sec. the
high figure of the option. Much doubt
is expressed as to who the big short
ir corn is. 1t is supposed that a leading
provision dealer is the opponent of the
big bulls. July sold from IS to size.
up to SO. and back to a firm close at
6sSsc. September sold at $3.50. advanced
to 61lsc on influential buying and closed
strong sc up. at 607sG61c Receipts were
III cars
Oats ere the strongest of the grains
today. Cash demand was excellent, with
sales as high as 52izc for No white /
Contract stocks were almost cleaned up |
today and at most nobody had any
stuff for sale. Shorts, although few in 4
number. but in order to secure anything, !
they had to bid up high for them July I
oats sold from 47sd42 to 44&c and closed 7
very strong PIC higher. at 44asc Re /
coipts were l1e cars
Provisions dipped early on a weak hog
market and free liquidation by outsid-
ers. Packers, however. soon came to
the support of the declining market and F.
twisted prices back to a firm close Late
IN the day no attention was paid TO the
depression in prices at the stock yards.
September pork sold at slS371s and closed
TIC up. at 1855. September lard closed
unchanged at sl06ea10s2lz; and Septem-
Der ribs 2ieG5c higher. at Sl0.65.
Estimated receipts tomorrow Wheat.
50 cars; corn, 40 cars; oats. 40 cars;
hogs, % O00 head.
GRAIN AND PRODUCE MARKETS.
Chicago.
Chicago, July 26.-The leading futures