The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-14
BULL TRICKS
SCARE BEARS
Ripe Wheat Fields Reported
to be Under Water,
WEEDS IN THE CORN TOO
Oats Closed lac and Pro-
visions a Shade Higher.
WEEDS IN THE CORN TOO

Chicago, June 13.-wet weather threat
ened all grains today and put a bullish
prop under the speculative pits. Ripe
wheat in Kansas was reported under
water, corn fields were weedy and water
sogged and the water upon the oats was
anything but beneficial Trade was only
fairly active and was influenced largely
by the leading cereal. At the close July
wheat was 1z4ssc higher, July corn a
shade lower and July oats &c higher.
Provisions dragged duly and closed IN
changed to PIC higher.
Rainy weather was chiefly the cause OF
very strong opening in wheat. Cables
were little higher and closed firm on
poor weather abroad. At the start shorts
were very nervous over the bullish array
of influences at work in the pit and re-
covered freely. There were ether bullish
side issues such as lower Argentine ship
ments and sales to France, the first in a
long time-but the main influence was the
constant arrival of threatening weather
news in field where wheat was ready TO
cut. The Ohio valley. the central states,
the harvest fields of Oklahoma and Kan
sas and even the spring wheat fields of
the northwest received copious rains. PTi-
vate reports of too much water every
where. July wheat opened Ease to "a
nc higher at 72ss to 721zc and soon sold
up almost cent to 727sc. St. Louis shorts
were good buyers. December was in good
demand, the cash business was good,
France getting q loads and there was
very little pressure on the pit any time.
The Kansas AIillers' association issued its
final report on the wheat crop of that
state and estimated the production at
from Is, 200, 900 bushels 10 5000, 900 bushels.
Harvesting of soft red wheat there is in
full swing where not prevented by flooded
fields Late trading consisted of some
profit taking. July closed firm, 1q15sc Ep
at 725sc. Local receipts were II cars, one
of contract grade: Minneapolis and Dr.
luth reported 22s cars, making a total IL
the three points of 245 cars against 269
last week and S44 a year ago. Seaboard
clearances in wheat and -four equalled
Is1 900 bushels. Primary receipts were
3zT, 200 bushels against 4ls,Oo0 bushels last
year.
Wet weather helped corn much. Both
independently and through the wheat
bulge Cultivation has been retarded by
the flooded field and now the wet weather
is interfering with grading stuff. The
market was very firm the first hour, but
without much activity. Strength in wheat
was sufficient 10 make numerous shorts
cover. County offerings were small and
receipts were only fair at 1913 cars. The
pit crowd had in mind the probable man
ipulation of July options and was not TAX
ing long hazards. July early sold easily
at sS1kc. but as the day advanced lead
ing elevator unloaded a considerable
quantity; scalpers took profit and the ad-
vance was lost July closed steady, a
shade lower at 631sG63Ac.
oats were very active and nervous.
Sharp advances were registered early on
hurried covering by shorts and the pit
ruled firm all day. The bullish influences
were too moist weather crops, expected
reductions in stocks and a probable
scarcity of No. white oats next month.
The demand for new July was especially
brisk. This. option quickly sold at 4issc,
but as the session advanced commission
houses offered fair quantities and the
close was just firm. 14c UP at 4oc. Cash
stuff was in COED demand. Receipts were
small. at 132 cars
Provisions were profoundly dull and un-
The hog market was firm.
but the constant manipulation Of packers
has driven much Of the trade from the pit
There was little stuff for sale and moth
ing was wanted anywhere. Prices were up
slightly at the opening, but the close was
fiat. July pork closed unchanged at $3.50;
July lard unchanged at $3.50 and July
ribs PIC up at $10.47l.-
Estimated receipts tomorrow: Wheat, |
IS cars; corn. $50 cars; oats, leo cars; hogs, |
l9 600 head.
GRAIN AND PRODUCE MARKETS. |
Chicago.
Cffcago Jpne 12-The leading futures /