The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-09-11
NJ arkets 3.

CHICAGO, Sept. 10.-The grain markets
started out in u very bold and aggressive
manner, and made very considerable ad-
vance before meeting any effectual resist
auce. When they ran up against the Wis
ibie supply statement, they turned around
and became as bearish as they had been
previously buliish. Compared with Sat
urday's closing prices December wheat is
IS cent lower; May corn Is cent lower and
September oats unchanged. Provisions
were independently strong, finishing with
liberal gains all around.
Wheat started strOug at from 8 70 y
cent lower than the price at which it closed
Saturday, IL was a holiday at Liverpool.
Receipts of wheat at Chicago were only
20 cars. Minneapolis reported receipts
of 59S cars and Duluth 240, making
SIS at both places, compared with !, 2lS a
year ago. The market went up under the
statement of the visible supply, and even
for half an hour following that 1t appeared
inclined to resist the besrish influence
which might be expected from an increase
of :, 2l5. 900 bushels, compared with a gen
orally expected increase OF not more than
one million bushels in the meantime. De-
cember which had opened at 81 Is cents and
after slight turn sold down 10 575. cents
had advanced to IS cents had become
steady at around 579s cents, until it was
seen that the visible supply would increase
beyond expectations. When the result be-
came known 1t broke 10 81 Z. cents, but
there being good demand at That, turned
up again about 70 cents RumOrs
become current a. the latter point
ha i...f "a
authority for the prediction of quite -
bearish government report on wheat this
afternoon, and or that there was a CHATTER
In tie pit rs the price rolled down TO 81
cents with sellers at that price Tor brief
space, closing at 511s cents.
Corn opened strong under belief that
the government and the elements were
both going 10 do something for the bulls
this afternoon. The government was cou-
ddently expected 10 confirm the worst
from other sources regarding the extent Of
the drought damage, and the weather
bureau reported frost conditions for a
large portion of the corn country
tonight, with probably killing irosIs
in the more northern part OF the
country. The days receipts being
light and the estimate Tor tomorrow
also small, were additional causes of the
early strength. After the heavy increase
in the visible supply OF wheat had began
to weaken that market, the local bears in
corn found their opportunity and quickly
knocked the bull feeling out of the corn
market There was an active trade dur
ing the first half hour IL then became
quite dull till after the visible was re-
Ceived, when il became active again, while
all the early bullishneSs was evapOrsting.
May opened at 561s cents with sale ss
high as So cents, but hardly any business
was generally possible over sos cents. It
fiuctuated for time between 551s and
sos cents and about an hour Remained at
sos cents. 1t recovered again TO 500
cents and closed at 55Sss cents.
Oats started with an indication of
strength and good business, but soon
after the start the trmness gave away aud
still shows no sign of Independence. The
government report added TO the heaviness.
There wcs ouly one side To the provision
market. IL was strong from start 10
finish, compared with yesterday. January
pork 10 cents higher, January lard 90 cents
higher, and January ribs ~ cetts higher.