The Wichita daily eagle., 1891-11-25
TIE cRAlN Markets

THE GRAIN MARKETS.
New York, Nov 24-Heury CIews, in
reviewing the grain markets for the past
week, SAYS:
1.-The wheat market is again suffering
/ to some extent from lack of interest, and
/ the volume of trade has been very light.
with prices irregular Traders have be-
come much disgusted over the long-drawn-
out uneeri sinty overhanging the condi-
/ tion of affairs in Russia, and many long
! holders have thrown over their wheat
seeing little to encourage them in the
! home situation, and although the official
announcement of the prohibition OF ex-
ports of wheat by that country has at last
! been made, the effect WAS only slight
advance, with no great show of strengi b.
Another case for the heaviness and IN
activity is the condition of European
ma KITS They have occasional short
periods of firmneSs but for the most part
are lileless aud dropping, particularly on
the continent, where They are somewhat
Influenced by financial difficulties in Ger
many. We near nothing or any import
ance from other European countries. and
il seems to be- growing evident that actual
crop conditions abroad have been mlSrep-
resented TO no co siderable extent. aud
that there is in rally more wheat 10
Europe than Americans know anything
abont; and this uncertainty nat urally tends
Jul ID ktueEdt AttHLlOu tOh
of a reliable ma ure. in the shape OF our
own situation, the cont ntemplation OF which
appears TO create sOmew hat bearish SEN
timent, particularly in The western mar
kets. Unfavorable weather has, of course,
done some damage to the growing crop OF
winter wheat, and although reports III
this connection have an effect on tue mar
ket the receipts seem at the moment to
cut more of figure. The volume of these
as,v he. VfnaT nal haa y "a
blockade of cars ia the.westis all that pre-
vents the arriv Is from being heavier still
1t is said that on the lines Of the Chic 60.
Burlington and Quincy railroad alune
there are at least two thousand cars con-
tanning grain side tracked. for which entry
into Chicago is unobtainable. The same
is the Case In connection with other grain
Carrying roads, and it is estimated that
from ten to fifteen million bushels of
wheat ar being kept back by the block
ade, which ought to show In the visible
supply This difficulty which cash deal
ers are having in securing their wheat
after it is bought is discouraglng pur-
chases by western merchants, other
wise wheat might be coming
forward in even larger quantities.
The visible supply showed a very unex-
pected decrease this week of about 140, 900
bushels, but the effect of it on prices was
unimpOrtant, as it WAS occasioned by some
mysterious Juggling in connection with
about two million bushels at Buffalo. The
distinction which is so sharply drawn
between public and private elevators
makes it a very easy matter to manipulate
the market by the simple changing of
y heat from one to the other. Clearances
of wheat are not heavy, but the demand
from abroad for future shipment is still
very good, and ocean freights are stiff.
The amount of wheat on passage to Eu-
rope this week increased g ,496 600 bushels.
General sentiment seems to be consider
ably mixed at the moment between the
conflicting reports from abroad, and also
from our own crop, good export engage
ments, and heavy receipts; but it would
seem as though the wheat market, if 1t
has any recuperative powers at all, ought
to be entitled to some reaction In the
event of any further decline, as it has al
ready gone down cents bushel within
few weeks. Still any very pronounced ad-
vance is not looked for or expected at the
present time.
''Corn has enjoyed moderately active
trade, and the general tendency OF prices
has been to harden Early IN the week
there was some display of weakness on
the colder weather in the west, and the
consequent expectation ot better grading;
but the good export purchases and the
rumored report of the German officials
recommending the use of corn meal for
the army, had a strengthening effect,
Receipts are fair and the grade is improv-
ing. The gathering OF the corn is pro-
crossing rapidly, and more than half of
the new crop is now said to be gathered
in. AS to the immediate future of the
market, we can only reiterate our pre-
vious expressions of opinion. There seems
little to bull corn on, when we are on the
eve of receiving one of the largest crops
ever grown, although at the moment No
vember corn is very strong owing to
which is rendered easy by
the small stocks of old corn.
provisions retain their weakness under
the enormous receipts of live hogs which
during the week just passed have
amounted to from 45, 900 to 60.0OO per day.
This is the feature of the market. and
we have good. opinion of hog
products. they cannot advance in price
much while the arrivals continue at their
present rate"