The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-04-15

CHICAGO, April H-Rain in Kansas broke
the drouth and the wheat market. Com pared
with yesterdays closing prices the latter is
rs cents lower. The large export trade in
wheat yesterday reported from New York
simmered down 10 about thirty boat loads.
Nothing in the way OF export business was
done in wheat there today. and the market
declined steadily all day with but few reac-
tions. Corn closed unchanged, but provisions
finished higher all round.
The drought in the wheat pit, which caused
the bears TO swallow such copious draughts of
snort wheat yesterday, was broken today
Kansas got general rains, apparently covering
the entire state. and the whole area of the
Missouri valley reported generous down.
pour. That. without anything else was suffi-
Client TO ooiiterate the bullish feeling which
was SO conspicuous yesterday. The European
drought canard also received It's quletus. II
was raining IN England and there was a low
barometer over the continent. That left TO
me, ,he o1ads on.y the California drought to hang
their hopes upon, and that was not enough to
prevent one-cent break at the opening. May
wheat, which closed yesterday at 6lSs cents,
opened today with sellers at from COS down
10 os9s. ana no buyers at over 6QlS cents. In
half an hour from the opening 1t had declined
10 ostai, and did not show any signs of recovery
until lt had reached the latter price. Along
with the oearish influence OF the rains were
market advices from Liverpool reporting abso-
lutte indifference TO yesterdays advance here
A letter received from Liverpool said miliers
"cAC scttiug wheat so low That tlfey
could make -four cheaper than even the very
low rates quoted from this side. The only
onset 10 the foregoing was the news from
California. August Brossea, well known
member OF the board Of trade, who has been
travelling through that state for six weeks
sent the Following telegram from there To u
friend this morning:
THE drought here is very serious and in
northern California cattle are being given
away"
That had some effect in staying the early
decline. The price reacted from 59at TO 6Oli.
Inc trade In the pit compared with the pre-
Vious lew DAYS business was light and the
overworked brokers had time to take a rest
The Closing price for May was COS to eOx.
Inc corn market was very dull, but prices
were nrm and scarcely Influenced by the
weakness OF wheat. The Liverpool market
was quoted weak with buyers holding off,
ana there was said TO be no eastern demand.
but holders here refused to give way and
there Were no selling orders OF sufficient
amount to overtop those received on the buy
Ing side. The drought in California has al
ready produced the effect of creating An in
curry lor corn In Nebraska to be shfdped to
1ne Paeinc coast May corn opened heIe at
3S5s cents and closed at ssh after sslling at
Ssas. Receipte today Wee I5s cars.
Inere was only small business done IN
oats. The feeling was in sympathy with
wheat, but there was not enough doing 10
create an independent feeling. May started
at - lower at 32ls. sold OF TO 80, rose TO 32B
and fell back to323s, where 1t closed.
The provision market was strong with
sellers scarce and for the most part confined
to those who had a profit in previous pur-
chases.
The receipts OF hogs were only 1000 as
compared with 1900 exported. The weeks
receipts were al ,5i4 compared with lOO06s for
the same time a year ago. Packing to date
this season amounts to 565, 600 head com pared
with eo9uuO tor the corresponding period last
year. May pork started with a gain OF ~
cents, improved l21s more, but worked off
again so that only cents profit remained
over yesterdays closing rate July. however.
rose . cents and rested with Is cents net gain
May lard was hard to buy and closed at the
top price OF he day l2le higher than yester-
day. Ribs closed - cents higher.
Estimated receipts tor Monday: Wheat 4s
cars; corn 200; oats 40; hogs 26.OOO.