The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-09-10
GRAINS HAVE
BULLISH DAY
Predicted Big Movement of
Northwest Didn't MateriaIize,
PRICES CLOSED lRM
Wheat Paused Before Finish
ing BeariSh Crowd.
IRgi

Chicago, Sept s.-Cereals acted buIlish
today. The often predicted big move
ment of wheat northwest failed TO ap-
pear. the weather worked against the
maturing corn and stocks Of grains gen
orally were decreasing to a bullish de-
gree. With these conditions and more
outside business developing the bullish
view Of the market spread and after
early dips. prices closed firm. September
wheat sc up; December wheat 1zg@sc
higher; September corn sc higher; De-
cenber corn sac up and September
%G1zc higher and December oats 1za%sc
higher. anuary provisions closed PIC
lower to SC higher
Wheat paused q moment early in trad
ing before making an end OF the bear
ish market that has prevailed for several
days. The cause was probably the dip
in corn. Soon. however. several very
good bull arguments were considered and
although at no time was the bull move
ment strong. yet the session ended with
good advances. Cables were Unexpectedly
nrmer and the big receipts heralded for
the northwest dwindled down to insignif-
canoe when the figures were put on paper.
A leading elevator house started a good
buying movement and gradually most of
the crowd followed after Statistics were
somewh- bullish. The northwest wheat
stocks have decreased 3.s24 90 bushels:
receipts are still running much under last
years figures; locally, there was an i'm
provement today. The worlds visible sup
ply increased S,s0o, 900 bushels. but the
poverty of quality in receipts did much
TO couRteract any bearish influence from
that quarter There was some Disposition
10 sell May stun, but in spite OF the dull
spots In the market the general senti-
ment favored buying and was augmented
late In the day by an excellent export de-
rnand. The weather in the spring coun-
Try which is yet much a factor. was fav-
orsble. September wheat started i to 1c
lower at Il to q. &c and declined to 707sc
and closed firm sc up at 1ssc. December
sold from CSC TO 67Ssc, reacted to 6s2sc
and closed firm 1zdssc up. al 6s4d2sc.
Local receipts were sos cars, only three
Of contract grade. Minneapolis and Du-
luth reported only 10 cars. making a to-
tai for the three points OF 1915 cars,
against 1855 last week and 1907 a year
ago. Primary receipts were lbs, 90
bushels. compared 10 1.6s3eoo bushels last
year Sesboard clearances in wheat and
Sour equalIed 70 900 bushels. The sea
board reported 70 loads taken for export
Corn ruled firm, but the market showed
no great change in prices. At the outset
prices ruled of because the light frosts
in Nebraska and Iowa were not of the
damaging kind. Further there was
strong early drive by prominent bears TO
break prices-something that has occur
red regularly for several days past. The
weakness however, was only mommen-
tary. Inherent strength in the corn stu
alton started good buying and there was
rapid absorption OF offerings The prin-
ciple bullish incentives were decreased
country offerings, firm cables and reduced
stocks. All the news was not bullish for
the southwest was expecting an increased
movement soon and warmer weather was
predicted. Leaders felt however, that the
cool weather and rains without frost
were against the hardening Of the corn.
Iowa especially has had too much rain.
December sold on early to 421.c on short
driving. but closed firm %G1sc up at asa
1sc; September sold between 5000 and SIS
and closed &C UP at SIZE. Receipts were
liberal at 27s cars. forty-eight Of contract
grade
Trade in oats was light. but prices ad-
vanced with other grains.
Early offerings brought slight dips
Standard oats in store increased g. 900
bushels but all told there were only lsO.-
CO bushels of this grade Iowa crops
were reported hurt to some extent by the
heavy rains. September sold from s3z.c
TO firm close sac higher at 54asdizc
December sold early at S;Asc. advanced 10
s1i5c and closed firm s&gs.c up at 51ac
Receipts were liberal at 47e cars but only
elk we're Of contract grade
Provisions ruled dull and slightly
hrmer with hogs fluctuations were very
narrow. January pork closed SC up at
81 IS. January lard sc higher at $50 and
January ribs nc higher at US
Estimated receipts for tomorrow. Wheat I
IS cars; corn. 50 cars; oats. 80 cars;
hogs. 5000 head.