New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-10-07
DECLINE IN CHICAGO MARKETS.
LITTLE DEMAND FOR wHEAT-A DULL CORN MARKET
A DROP IN PROVISIONS AND PARTIAL RE-

| LITTLE DEMAND FOR wHEAT-A DULL CORN MARKET
A DROP IN PROVISIONS AND PARTIAL RE-
CoYERY.
lBr TELEGRAPH TO THE TRIBUNE.l
CHICAGO, Oct. 6-Wheat declined again to-
day full cent bushel and corn Z cent bushel and
the feeling OF the grain bulls Is almost despairing
The party of low prices Is constantly gaining
recruits and they course all deserters from the
side Of the bulls" "Wheat cheap" says everybody
but nobody TO want it these cheap figures
The stock here and the stocks at the other domestic and
foreign centres increasing fast that the situation
will be-unless there comes some incident to
effect achange-such to cause decline in prices with
out any regard to intrinsic values.
A big local stock is always admitted to
be circumstance which affects unfavOraoly
the local market. It puts bulls" at disadvantage.
The bears" their competitors with great
show Of cash property. This unfayorable clrcum-
stance, big stocks apparently exerts an influence
now at every wheat market; at New-York, at Duluth
at Chicago, at e Louis, the grain centres abroad
The people inclined to speculate for an advance because
OF the relative cheapness of wheat oYera~ed by the
appearance Of the elevator bins The people who sDec
late for lower prices COrrespOndngly eated They
know the value OF big supply rs weapon There
has decisive change I'm the speculative situation
Bull houses have turned "bearsh," but "bearish
houses have turned buish" Said Abraham Poole, OF
Poole Kent & Co., who was "bull " wheat until
fortnight ago. "The price Of wheat Will keep on de
clinng think until the out greatly exceeds
the movement in. Winter Is approaching the shipping
season passing and there two stocks OF wheat IN
store shippers will not take. am believer in 80 cent
wheat" For what month r. "Oh, for any month
for January"
Wheat declining people say, despite the fact that
ia cheap because Of the lack Of demand.
Corn on the other hand, which ia not exceptionally
cheap, Is declining despite an active demand
Corn is not the centre attraction just III were
il would be easier to argue about It. SPECTATORS how
ever have been engrossed by wheat or provisions the
speculative opportunities which were in corn were
neglected.
Wheat for October closed at 037s2 for November at
o5So for December at 97asc drop from Friday night OF
IQll. cents Cora for October stopped at AZ 2c, for
November 4G74c drop from last night OF 'sa p
The ST. Louis crowd which was "IOng" about 1000
600 bushels OF wheat is believed 10 have sold. The
cques attitude never gave any support to wheat for
the representative Of II appeared never 10 have
enough confidence IN himself TO inspire confidence ID
Utn, Is -,
today was partly responsible for the weak celinX Inc
report OF a. stock failure Philadelphia did not hep
matters either. There has been some talk OF possible
squeeze IN October corr, but there appears no 5l "
such u manipulation now. Ne htm would he likely 10
attempt u. II n occurs n Will be natural corner
squeeze created by tue cruwuiug together or snort
Provisions dropped considerably to-day, but the I'M
L The distant options, too declined the least FORK
for Octupcr declined ll32l2 to 1919 but closed al
1888. November dropped irom 10 20 20 10 am
Io.rd 40 lul,l1 Lard declined 20 cents per DunuTtu
buf recovered l., cents OF the October closed ~
4 lyL,. November AT 100 RIBS Tor October dropped
ucarl 80 cents per hundred uul IrcUN CItL % a.
AuuOug's hand ali not appear III the WlFAtt al "a"
Hutchinson large buyer oi January pork