The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-09-06
SPECTATORS
WERE EXCITED
Possibilities of Frost Threw
Them Into Nervous Fit.
BRISK WHEAT DEMAND
Commission Houses Bought
Literally on Market.

Chicago, Sept 5.-Grain spectators be-
came excited today upon the possibility
Of frost in the unripe grains tomorrow
ir spite of the fact that the weather map
indications were very favorable. While
conservative traders scohed at the incon-
sistency with which the market rallied
whereas yesterday they slumped when
frost was on the ground. the result OF the
trading was a good gain al lround The
probable reason FOR this was that the
bulls did not have a very good plank in
their platform-that Of chronic poor grad
Ing Of receipts at this point At the close
December wheat closed 249z.c up; De-
cember corn 14d@sc higher and December
oats &c up. Provisions closed generally
10c advanced.
There was brisk demand early in the
wheat pit. largely from the outside Com
mission houses bought literally and there
was good support under December
options. Much of the trade on the bull
side was of the fear of a frost in the
northwest. This was supposed 10 be the
principal cause of the upturn, but steady
cables. lighter receipts and bad grading
helped materially. The sentiment gener-
ally was bullish and there was no selling
pressure present. After the early bulge
the market was inclined to dullness and
prices huctuated narrowly. September
sold from re to 72@sc and closed sc
higher at 721kd9sc. December started 4
to sc up at sSAG2sc and sold to sec. clos
ing strong %Q7sc higher at $50 G3sc. Lo-
cal receipts were 15s cars, one of con-
tract grade. Minneapolis and Duluth re-
ported 400 cars. making a total for the
three points Of SIS cars. against 6l7 last
week and 1000 last year. Primary re-
ceipts were 1,e2s,OOO bushels compared
with 1,42s, 900 bushels last year. Seaboard
ciearances in wheat and -four eQualled
$4,000 bushels. Argentine shipments dup
Heated last weeks at 1900 bushels. COM
pared to $4,000 bushels year ago.
Corn had a large trade early and the
market advanced strongly on general de-
mand induced by the weather scare.
Shorts wanted stuff the outside was or
the bull side of the market and for time
business was brisk. Some reports had il,
however, that there was not much corn
to be hurt by frosts and after the first
quick upturn the demand fell off: locals
offered freely and prices dipped back
somewhat. Cables were steady and the
weather map was favorable for today.
September had a fair advance but not
much Of trade. Late business was poor
al fair advance from yesterday. Septem-
Der sold at $3.50 and closed a trife frmer
&c advance at sec. December sold from
427sc to 1910 and closed firm 1aGssc up at
45i4d7sc. Receipts were poor at Sc cars.
only four OF contract grade. Oats were
Influenced largely by the same condi-
tons that helped other grains Shorts bid
anxiously for September early on the
very poor quality of grain receipts Profit
taking late in the day brought recess
sions, but the close was firm. September
sold to S55sc and closed sc up at 95bc.
December sold from S11sc 10 S1ssc and
closed firm sc up at Sl7sc Receipts were
292 cars five of standard grade.
Provisions felt the strengthening in
iuence of a sharp upturn in hog prices
Grains were also bullish factor Trade
was fairly active early, but a little selling
on the bulge took away some OF the
gains. January pork closed 10c up at
$500; October lard and ribs both closed
1Oc up at respectively s.. ~ and $500.
Estimated receipts for tomorrow. Wheat
zoo cars; corn, 1S5 cars; oats. $50 cars.
hogs. 5000 head