The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1891-12-23
THE GRAIN MARKETS,


NEW YORK, Dec. o. Henry Clews, in
| reviewing the course of the wheat market
during the past week, says that trading
during the week was of very Spasmodl(
Character, aud, although well distributed
| among professionals, commission houses
and foreigners, there were times of eX
! treme dullness as well as marked activity
but with it all the general inclination o
prices has been downward. The govern
ment report of last week seems to have
been the principal cause for the heaviness
lnasmuch as n great many were OF the
opinion that the agricultural bureau would
make a poorer showing for the crop; and
the fact that it did not led to disappoint
ment on the part of long holders, and con
sequent liquidation. not only by profes
sionals but by outsiders and foreigners
The condition of European markets has
also had much do with the weakness; fol
during the early part of the week prices
abroad were declining. with markets gen
orally dull. 1t seems difficult at the mo-
ment to arouse any enthusiasm on the bull
side of the wheat market, for the amount
of wheat in the country is too large ap
parently to allow of the growth of any
marked sentiment of that kind
OF course our heavy export clearances
for the Atlantic seabord daily constitute
nothing if not a decidedly bullish argu-
ment; but as against that there is any
quantity of wheat waiting for the blockade
to be broken. which will then undoubt
edly be rushed into Chicago and figure in
the visible; and the feeling of frmness
which exists at times on the small receipts
promises to be short lived, for reports
from the west even now are to the effect
that the jam promises to be over soon,
when the receipts are bound to show much
heavier than at present, and our stocks in
sight will again begin to swell. During
the past six weeks, however, the proper
tion of increase in these stocks to that of
receipts has been very small Since No
vember l the receipts at primary points
have been 42,000,000 bushels, and the Wis.,
ible supply has, i'll the meantime, only in
creased about 100000 bushels. During
that period, therefore, it is supposed that
siX-sevenths of the receipts have been
used for consumption and export.
The crop is still doing nicely, and the
weather for the most part has been fair
and cold. There have been various rumOrs
of damage in some sections, but it is gen.
orally conceded that the condition has not
declined during the past week, and that
the plant is getting along fully as well as
the season warrants. Reports from abroad
are at the present time generally favor
able, and European markets show no signs
of strength, as of late they seem to be fol-
lowing our markets. The English visible
supply showed another large increase this
week and there is no great demand for
cargoes; neither is Europe making any en-
gagemeuts here of Importance for future
shipment. Paris seems desirous of instill-
ing into US belief in the cheapness of
wheat; but it is a noticeable fact that their
ayowals of bull feeling are not accompan-
led by any buying orders. Sentiment here
and surroundings seem hardly in shape to
warrant a pronounced advance yet, though
the market ought to have rally soon.
Corn had quite a sharp break, resulting
from better grading and somewhat heavier
movement. The cold weather has put the
new corn into better condition, and as sup
plies have been moving little more freely
there has been less apprehension of d con-
tinuatlon of a corner. Besides this, it is
thought that the large short Interest had
been pretty well eliminated during the
recent advance, ana considerable Hquida-
tion by longs followed. Later in the week
there were renewed signs OF strength on
the EN- mbarrasing scarcity of cars, and De-
cember advanced easily, showing that
here were still enough shorts eXtant to
give vigorous support to prices when the
occasion required it. The immediate fu
ture of prices will be regulated PRINCIPALLY
by the weather, as continued low temper
ture means great improvement IN the
grade of corn, and consequently decreasing
chances of a squeeze" "At the same
time we certainly would not advise anyone
to be short of December, or, for that mat
ter, January either; for strength in the
former will be reflected by the latter, as
there are still fears of bulge in January
after this month expires.
Indigestion. Dizziness. Take BEE