The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-08-14
SEE-SAW GO
GRAIN PRICES
Trade Is Active and SpeCula-
tive Feeling Changed.
BEARS ACT UNCERTAIN
BuiISsFind Argument Wheat
Harvest Reports.
BEARS ACT UNCERTAIN

Chicago, August 13.-Grain markets see
sawed today. starting firm. slumping and
then reacting sharply to strong closing
/ figures. Trade was active, and changes
in the speculative feeling were radical.
Less confidence by the bears in the spring
wheat harvests were the principal bull
argument. At the close September wheat
was l1sq114c up September corn was sc
higher and September oats 1c higher. Pro-
visions were an exception to the general
trend. and. turning sick, closed sc 10 SOc
lower
! Wheat was unsettled. Strong Liverpool
cables on the bad weather abroad gave
bullish incentive to the early trade.
Winter wheat receipts. however, proved
heavy, and much Of the short wheat COW
cred yesterday was Tor sale again. Sell
ing in good volume began and prices
slipped of rapidly until almost l cent
was lost. Then came reports of disap-
pointing yield in the spring wheat coun-
/ try. Weather in the northwest was too
rainy. Buying set for the foreign ac-
count. Bradstreet's reported the world s
available supply decreased by 1900, 600
bushels. Minneapolis expected stocks
there to decrease 500, O0O bushels The
Seaboard reported fifty loads for export.
Shorts at once covered aggressively and
prices jumped &c from the low prices Of
the day. September opened &c to sc up
at tSAc TO 691sc. siumped to 6SlkG6S14c
and reacted to strong close, 11sd1Ac up
at 70b@7o1sc Local receipts were 2s1
cars, Il cars contract grade. Minneapolis
and Duluth reported 1O5 cars, making a
total for the three points of Ss6 cars,
against 40 cars last week and S95 cars a
year ago. Primary receipts were 1.3O5, 900
bushels, against 1,176.OOO last year Sea-
board clearances in wheat and -four
equaled 225.OO0 bushels. Prices in corn
started strong on a fair cash demand and
filling on buying orders by commission
houses, then began selling in sympathy
with the wheat break The weekly crop
report was bearish. and many timid
holders let go. Shipments to this point
were only "A cars, yet prices sagged off
until September sold from 529sc TO 512sc.
Then came fresh buying by influential
houses, started principally by the wheat
rally, and prices reacted well September
closed firm sc up at 522sc.
Oats showed more consistent strength
than anything on the floor. Bears in rnis
pit are figuring on a o.O00OC0 bushel
yield this year. and declare prices can
not hold, but at the same time the bulls
give the market such support that prices
must advance. 1t seems impossible to
get contract oats piled up here. The cash
situation today was strong. September
buying was excellent and the latest
strength in wheat and corn helped
prices upward. Trade was largely scat
tered. September sold as low as soc. but
closed strong 1c up at S1GS1ltc. Receipts.
1S9 cars.
Provisions opened steady on a show Of
frmness in hogs. but at once turned
heavy. Although hogs declined later, Of
ferings were moderate, and the poor de-
mand took prices down quickly Liqui-
dation went on all day. Late there was
a rally on the grain strength out the
close was weak. September pork closed
SOC lower at $500. September lard off at
$3.50, and September ribs 3Oc lower at
$50.
Estimated receipts for tomorrow:
Wheat, 2e5 cars; corn. so cars; oats. $50
cars; hogs, 5000 head.