The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-28
FIVE CENTS
IN TWO DAYS
Remarkable Jump Made in
Value of Oats
CROP REPORTS BULLISH
Wheat Lower, Corn up and
Provisions Down

Chicago. June 27.-oats stood in the
speculative lime light today. Influenced
BY a very strong cash situation and by
liberal short covering. July new oats sold
at 47c, a jump of &C in two days. Other
grains had bullish impulses and made good
advances. In oats much OF the grain was
lost by liquidation. In wheat and corn
selling came because of the guessing con
tests in the pits as TO the manipulatiTe
situation. At the close July oats were rs
QlAc higher, July wheat &c lower and
July corn &c up. Provisions lost sc TO 10c.
There was no mistaking the tempera-
ment of the traders in oats at the open
ing today From an ordinary small and
narrow business this pit developed a gen
eraI trade that was of marked interest all
over the floor. Strength of genuine ma
ture seemingly free from manipulation
developed to a degree not seen for some
time The situation was simply that
brought on by a very strong cash de-
mand. Statisticians report stocks being
rapidly depleted by shippers absorbing
practically all the mixed stuff that comes
to market. Not a car of new oats came
today. Added TO this incentive was the
probability that no considerable new ar
rivals will be on hand until after August
l. Crop reports are very bullish. With
No white selling cash today at 53l1c
and delivery day only two days of shorts
covered sharply. Outsiders bought in a
healthy manner. July new opened &c TO
70 hut
OF profit taking and break in other
markets lost a good deal OF its advance.
July closed strong 11s@1hc up at 451zg
45ssc. September sold to 33]4c on the up
turn, dipped to S2ssc, but closed firm va
&c up at S3txc. Receipts were small at
IA cars.
Wheat was top heavy on manipulation
and broke after very good early strength.
At the outset the wet weather over much
of the harvest country and grasshoppers
in the northwest brought good buying.
Corn bulls bought literally of September
and set the crowd to guessing over the
outcome. Corn was irmer and. together
with oats, gave wheat strength. When
It was seen that corn could not hold its
own price the crowd turned bearish in
spite of advices that were bullish. Stuff
was sold freely and weakness ensued.
July. which opened unchanged to NC UP,
at 73I4c to 7314c and sold to 7S9.c fell of
1c and closed &c down al 7sc. September
sold as high as 72S4q727sc. dropped TO re
and closed a shade lower at PIC. Local
receipts were 50 cars of contract grade.
Minneapolis and Duluth reported $50 cars,
making a total for the three points OF
2s5 cars, against 3ls cars last week and
2SS a year ago. Primary receipts were
529. 600 bushels. compared to $4,000 bushels
last year. Seaboard clearances in wheat
and flour equaled 3e3 600 bushels. Argen-
tine shipments were small at 240 900 bush
els. compared to 1856 coo bushels last week.
Total Argentine shipments since January
were only zoos 900 bushels. against %
055. 600 bushels last year. which in turn,
are small compared with former years.
The seaboard reported loads taken for
export. This was another big day in
corn. Boosted by the fears Of shorts and
on wet. cold weather report, July shot up
to csc, a fresh record price. The IN
dertone most of the day was strong. but
fluctuations were erratic. September buy
ing was Of such character and volume
as to create much interest. This seemed
all the more strange when on the bulge
heavy selling was INDUCED in by a lead
ing professional, and the market broke
from its strong position. The talk Of the
pit centers around the supposed leader
ship OF John W Gates as the bull in July
and John Cudahy as the big short. Re
newed selling by Cudahy in September
after he was supposed to be the victim of
Gates, made the crowd believe that there
was 4 private understanding between
them. Private elevators made only 81
cars of contract today. In spite Of this
and the smallness of receipts. 100 cars,
closing prices were just firm. July &c up
at sS7sc. and September isc higher at 6l8
61bc
Provisions ruled dull and unimportant
today Hogs were weaker and Influenced
fair selling. Prices accordingly closed
weak in products. September pork was
IOc lower at ISIS: September lard Sc to
nc down at sl055. and September ribs
sc lower at 10so
Estimated receipts for tomorrow
Wheat. IS cars; corn. 2o5 cars; oats, go
cars. hogs. 1890 head.
GRAIN AND PRODUCE MARKETS.
Chicago.
Chicago. July 1.-THE leading futures