The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-07
FEARS OF A
WET HARVEST
Stimulates Buying in All
Speculative Pits.
BULLS ARE BEWILDERED
All the Grains and Provisions
Reported Higher.

Chicago, June 6.-Fears Of a wet har-
vest in winter wheat very small sales OF
corn by farmers; sharp cash demand in
oats and call for pork to repack for old
stuff stimulated buying in all the specu-
lative pits on change today. Trode was
largely limited 10 the professionals and
several crop reports had dampening ef-
feet on the spirit of the bulls. In the end
howevr. July wheat gained Aas.c; July
corn sc; July oats CSC. Provisions closed
2lz 10 SC to 171zG2Oc higher.
Chicago got strong start from the an
pearance of the weather map. The sontb-
easth had too much rain and the entire
western wheat and corn country reported
copious showers This caused talk of a
wet harvest, rust and other damage To
crops Gables were weak, following our
decline yesterday, but July opened a shade
higher 10 unchanged at 7IbG7lIzGS.c and
SOLO TO re Shows report that the Weld
OF Doth winter and spring crops would
approximate 725. 100000 busheIs-or only
z5,WoOOO bushels under last years enor-
nous production, was like a wet blanket
Bears sold, bulls stopped buying for the
time and July sunk to 7Ihc This same
report indicated an improvement of Ave
acreage was 100000 less than last year.
conditions inherent to the weather were
mostly bearish but they seemed to have
little effect. Receipts were liberal. the
cdsh demand was very poor with prices
shaded here and al Duluth The outsider
was not in the pit. The wet weather talk
however, with firmness in corn and oats
helped wheat and July reacted well after
,'s oip. closing firm, 1449sc up at 717sc.
Local receipts were four cars. none of
contract grade; Minneapolis and Duluth
reported 256 cars, making a total for the
three points OF $50 cars against 407 last
year. Primary receipts were 1874. 900 BUSH
els compared to $4,000 last year. Seaboard
ciearances in wheat and -four equalIed
2SS,00O bushels. The shipments were 25s.-
600 bushels against 1872 900 bushels last
week and 100000 year ago. Export
demand was almost dead
Corn trade was good and bullish crop
reports stimulated good buying that
brought a strong tone. Early in the day
July was strong on support OF big bull
interests and September weakened by ST.
Louis selling. Later the latter option
came in for support and all prices ad-
vanced. The selling was largely by locals
and was scattered. Country offerings
continue very light farmers Offering very
little. Movements is supposed to be re-
III bSN W SOAilc extent Dy the wet weather
tomorrow's receipts are expected
to be $50 cars. The excellent support the
market receipts official bearish Influences
and July sold up to &c and closed firm.
sc up at 622 d627sc. Receipts We're 237
cars. Snow reported 10000. 600 acres plant
ed in corn this season and the present
promise of the crop is entirely satisfac-
tory.
Again oats were the strongest of the
grains. General buying of July new and
September new set in early. The latter
option was specially active. Advances of
almost 1c were made early. AS on the
last few days the good cash demand was
the influence. Shorts who thought strong
Of new crop was safe covered freely on
fears of rain damage TO the growing
plants. Receipts were again small at so
cars. All told the market was an active
one and was strong all day, being influ-
enced very little by the other grains. July
sold to 1850 and closed sc up at 39Lc.
Provisions were rather quiet but adj
vanced sharply after an opening that was
weak on the weak hog situation. There !
was fair demand for packing pork and
packers manipulated for higher prices.
The close was firm. July pork sold at
Il7.50 and closed 17I.G20c up at sl7 20. July
lard. 21zd5c up at STOPS; July ribs 7isc
higher at Sl0.15.
Estimated receipts tomorrow: Wheat, !
10 cars: corn, $50 cars; oats lis cars; hogs. /
2 900 head.