The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-08-05
WHEAT MOVES
ON DECLINE
September Shorts Are Feared
on Chicago Market
PRICES TUMBLED DOWN
Wheat. Corn, Oats and Pro-
visions are All Lower.

Chicago. Aug 4-Manipulatioa and
fears of September shorts in all grains
influenced an early n.7lness il u aims to-
day out Of all proportion to the natr.ral
trend that follows each : prolific sea-
SON SUPPORT, however, that was ncces-
sary to the schemes Of bulls was with
drawn and prices tumbled Sharply. As
q result September wheat closed at 4
q sc down. September corn nc lower.
Provisions closed 10 TO Is cents lower
Fine weather and excellent crop pros
poets were almost entirely ignored at the
opening OF the wheat pit in the anxiety
OF shorts to recover. Gossip had another
deal afoot. this time in September wheat.
1t was admitted that there were heavy
long lines out. and naturally that meant
a bis short interest Statistics generally
were a little bullish although very good
buying by a professional house Septem-
Der opened Il to a shade lower at 703sQ
y 10 20 %ah to 70 s and quickly adj
yanced to II. Mch of the covering was
for foreign houses influenced by the
small worlds shipments and the decrease
IN oreadstuffs in passage. At the top
figures there were heavy C'l52in2ls!
1gres there was heavy unloading, sup
posed TO be for the interests that were
supporting early and as a result Septem-
Der slumped to 69s4G5s and closed at so
Z lower at 60 z.
The cash demand was reported good
the LEGAL situation was somewhat i'm
proved and grading was very low. Local
receipts were 3e3 cars, Of contract
grade; Minneapolis and Duluth reported
30 cars, making a total for the points
Of SO cars against 647 last week and
534 a year ago. Primary receipts were
1886, 900 bushels against .4e4 900 bushels q
year ago. Seaboard clearances in wheat
and -four equalled 5s7. 900 bushels. The
worlds shipments were 6,196. 900 bushels.
against 1897. 600 bushels On passage
breadstuffs decreased S,Ss4.OoO bushels
The visible supply increased Ss1, 900 bu.
There was god early strength in corn
induced by very small receipts but it
did not hold. A in wheat there was
tai kof manipulation of September op-
tons and all the markets needed to slump
sharply was heavy selling by the bulls
supposed to be under the deal. The
local buying early although light was
good enough to push prices up a cent.
AT the top prices the bulls let go about
100000 bushels. From that time there
was no support, offerings depressed the
price and the close was near the bot
tom. Sept opened A@2s to SsG% up at
5SQ u TO SO Y sold 10 IS z dropped to
81 lsGk and closed weak u down at 81
14a@s. Receipts were only 45 cars.
Oats felt the bullish influence Of the
corn advance and light receipts and
early made good advances. Trade was
light but covering was fair. When corn
broke oats followed and the slump that
resulted was augmented by favorable
weather and good crop advice. Sept
sold from 80 IS to 81 4 and closed weak.
&qa down at the last figure. Receipts
were rs cars. 4 4 u 4
Provisions were quiet and OF a waiting
nature. Hogs were fairly steady and
checked a break that followed renewed
outide liquidation of a light character.
September pork closed z nc lower at
1912 u Sept. lard 1oc down at l0.s2 Z
Wheat. 500 cars; corn 50 cars; oats. 306
cars; hogs. 10000 head.