The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-07-20
RECORD PRICE
FOR e YEARS
July Oats Scared to 65 Gents,
AGAIN of 7 ~ Cents
RECENT HEAVY RAINS
And a Corner" the Chief
Causes of the Advance.

Chicago, July 1e.-This was another day
for squeezing shorts in the oats pit New
July standard oats were excitedly bid up
- to csc. the highest price on record
since 1874 Aside from the large short
line that is held by one Of the leading
professionals. the principal cause Of the
cratic gyrations displayed by oats prices
today was that Of ruined harvest fields
by reason Of the recent heavy rains. 9th
er grains were bullishly affected by the
rains. but liquidation caused reactions
At the close July oats gained -, Septem-
Der oats 4 and July corn IL. September
corn lost M. July wheat 4 and Sep
TENDER wheat &c. Provisions closed II
10 Is cents lower.
II was q wild day in oats. The cause
largely seems TO be that there is q nat
ural corner IN July new options Mayor
James Patten Of Evanston who corners
May oats. +. credited with a line Of near
" 100000 Of new July and inasmuch as
receipts are very small and contract
grading much smaller. shorts are fearing
still worse conditions. p to few days
ago promises for a good cats harvest
came to hand repeatedly. The cash de-
mand. however. kept up so well that in
spite Of predicted bumpers. crops prices
continued TO advance on the sample ia
bles With heavy rains in the adjacent
fields ard reports Of fallen and twisted
yellow grains, shorts became panic strick
81. The outside bought freely. The fu-
ture options advanced sympathetieally
and were hardly appreciably affected by
the break in corn and wheat The near
months have become very scarce At
all times they are hard 10 buy and the
demand is always in excess Of the offer
ingS. Trade in July was not excessive
~ heavy. the price being put up by mod
crate purchases. Prices however fue-
tuated 1.-2c at jump. July opened 2s4c
up al e0c, dipped 10 5s1zc and then jumped
20 s. The close was very strong. &c up
az 641z. September opened I to sc high
er at 33z to 3zis and sold act 1850. clos
ing firm &c higher at 34c. Receipts were
very small at 81 caTs.25 OF contract grade.
Wheat made very good advances early
on the weather reports and light local
contract grades. July IL particular was
strong and was bid up rapidly BY fright
ened shorts. Cables were Indifferent.
Most OF the wheat east Of the Mississip-
pi and near the great lakes had been
damaged 10 some extent by rains and
more showers were predicted. Trade was
only fair after the opening furry and
when It was learned that the primary
receipts were 1.055.oo0 bushels against
M 80
began selling freely and the sentiment
turned rapidly bearish. St Louis led in
the selling. July opened &c up AZ III.
jumped 10 - and closed &c Up az 761s.
September opened 4. sc up at 3 70 rs.
sold at 73N =, but slumped 70 72is and
closed weak, &c lower al PA u Local
receipts were $50 cars, = Of contract
grade. Minneapolis and Duluth reported
% cars. making a total for the three
points OF 81 cars. against 81 last week
and 81 a year ago seaboard clearances
in wheat and -four equalled $4,000 bushls.
Corn VS. bid up well at the start II
sympathy with wheat and oats and on
the rain influence The market. how
ever. was poorly supported and there
was slump IN prices until deferred fu-
lures closed under yesterday There was
little feature TO the market aside from
covering and trade was light Senti-
ment inclined TO the bear side and all
locals sold freely after the initial bulge.
July opened &c up at s. and closed &c
up al s7s4. September opened &c to Ac
I'D az size TO sac and sold at s1ss. but
dipped one cent from this price and clos-
ed weak. i-G2c lower at eo7sds1c- Re
ceipts were ~ cars. 80 OF contract grade.
Total contract stuff was 5000 bushels
Provisions were subjected 20 free sell
ing BIZ brokers for unloading packers and
in consequence % concentrated effort
to break prices both OF the board and at
the yards slumps resulted. Hogs were
few but brought lower prices September
pork closed 10c lower az slsS71z Septem-
Der lard l5c lower al 80 81 and SepteTn-
ber ribs TIC down at sos.
Estimated receipts for Monday: wheat
10. corn. s5o; oats. lo5; hogs. 800 head
Receipts q hogs for the week. 1900
GRAIN AND PRODUCE MARKETS.
Chicago.