The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-07-26
OATS HIGHER
THAN WHEAT
An Odd Spectacle Witnessed
by Grain Dealers.
JULY NEW OATS AT 72C
Phenomenon Caused Not a
Ripple on the Market.
JULY NEW OATS AT 72C

Chicago. July z5.-Grain traders beheld
the Cd dspectacle today OF oats selling
higher than both wheat and corn, and
yet the phenomenon caused hardly a rip
PIE in the dull and uninteresting business
routine. July ne woats sold at re when
shorts wanted the stun. Cash oats were
absorbed by the bun leaders II as high
as 1c in order TO keep them from the
shorts. While cats were selling in orb
lots at these fancy figures. September
wheat was around 7sc and the hitherto
fancy July corn something under sc. II
general however. it may 6e said the July
corners were resting. Shorts in wheat.
corn and oats IN that month. seemed
penned in by the big interests. The
other markets were doing little because
other business influence. which IN turn.
however. had little en1N because OF the
fears Of July manipulation IN the end
September wheat closed sG1zc down,
September corn sc lower, July corn nc
lower. September oats safe lower and
July oats isc higher. Provisions were
very irregular and closed 12l-c up 10 IKE
lower.
Wheat worked lower on the influence
or lower cables. good weather and dun
trade. Crop advices continued favorable
and receipts bore out the report as 70
quantity although grading was very
poor, as OF late. The foreign market
weakness. together with the excellent
country prospects. seemed to undermine
the confidence Of holders. The strike Of
telegraph messengers. which spread 10
the floor Of the exchange, interefered
with the business and had its modicum
OF bearish influence. July showed itself
very sensitive TO any supply or demand
and shorts as usual were very nervous.
The price hung around &c and closed
&c down At 76dc. September was offered
II Their freely. Opening lsdi4c 20 a shade
lower at - to 721sc. that option dipped 20
715sc and closed week. -.G1zc lower at
lac Local receipts were 205 cars. two
OF contract grade. Minneapolis and Du-
lUth reported 202 cars, making a total for
the three points Of 4o7 cars against "a
=
receipts were 10000 bushels. compared
70 I,as1 GO bushels last year. Seaboard
clearances in wheat and -four equaned
2f9,0 coo bushels. Argentine shipments were
40000 bushels for the week. against 49,
600 bushels last year.
Corn was even more duh than wheat
The wheat weakness together with the
good crop reports had a depressing in
fuence in the corn pit and very free
offerings by a leading house broke Sep
TENDER prices one cent. Trade in July
was small and prices held near SIC until
shortly before the close, when little Of
fering and no inclination on the part Of
shorts Of absorb, broke the price TO |
weak close a SIC. There was momen- |
tary support in September. but the ef- |
feet was hardly noticed. September sold !
from Sic down to 60lsc and closed weak /
&c lower at solsc There was a feeling |
that July was simply slumbering before /
it burst forth in the volcano-iike erup- |
ton. Receipts were 247 cars, 81 Of con
tract grade
Oats lowered in the deferred option, in 1
sympathy with other grains and on the /
hot unfavorable weather. July shorts I
who did not settle yesterday were fright /
ened by the rumor that because they
would not settle at &C. the prices was to 1
be pushed sun higher. In consequence /
Of their bids for several .6ves" July
new sold al &c the record price since /
the civil war. This was the only feature. /
Trade otherwise was dun. offerings IL the /
new deliveries were free ard p-lces
dipped. After the early advance July !
dipped hack and closed only sc VI at
7Clsc- September sold between PASS and
237sc. and closed weak ssa1-c down at
54isc Receipts were 40 cars.
Provisions were irregular. though not
particularly active. Early advances IN
the yard hog market and a good support
by brokers caused brisk advance
Lard especially shot Up. September lard
once more selling at Sl1oo. The early
high prices however. seemed 70 be a rlse
by the packers. who Ak once uni0ased on
the little fellows. depressing prices badly.
Lard alone held up Late trade lapsed
into dulIness. September PORK sold from
'17-57 10 sl7-7o. dipped 10 ;17-25 and closed
~ down at 1885, September lard
closed l2-zc Up II s-9s2lz and Septersber
ribs after selling from sloszle 20 500.
,Iosed weak SC lower a. E0so
Estimated receipts f,- tomorrow:
Wheat 10 cars; corn, IS cars. oats. I'D
airs. hogs. 1000 head