The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-04-12

CHICAGO, April Il.-Wheat was very weak
at the opening at a decline of ~ cents. The
government report which was considered
bearish induced tree selling and realizing and
May closed only Is cent from the bottom.
Corn, oats and provisions went down with
wheat and closed lower.
After some conflict OF opinion on the curb
yesterday afternoon regarding the interpreta-
ton OF the government report. the weak man.
ner in which the market opened this morning
indicated that all but a small remnant OF the
bull feeling engendered by il had been wiped
out. There were sellers OF May wheat imme-
diately on the opening at anywhere from o2i4
cents down to ols+. Not much wss parted
with at that time at the lower of those figures,
but 1t was not long before 6lS4 cents was an
unobtainable price and almost cent lower
was accepted before an hour ofthe session
had passed, CO.'S cents being the current price
for moment or two about 1890 O'Clock, be-
fore enough buying orders came in TO arrest q
lower range ofstop orders from coming on
the market. The government report of the
average condition being points higher than
ON April last year and S points above
latter year the yield OF winter
wheat was $500 ,OO0 bushels, some warrant
was found for the bearish Interpretation the
SPECTATORS had determined TO put on the re-
port The weather was doing its best TO re-
pair the injury IL did in the end of March.
Receipts We're fairly liberal In the northwest,
heavy, in fact, as compared with those OF
year ago. 1t was on the corresponding day
OF last year that the Cudahys abandoned their
MAY deal' and the price dropped In few
minutes on that occasion from 20 to "a cents.
Before the decline quite stopped. May sold at
GUS cents. but rallied again TO Oh cents.
The bears again jumped into the market and
after another break TO e05s cents and about a
dozen fluctuations between that and SOS
cents, there followed fresh drop to 6Ols cents,
a recovery TO oos4 cents, and yet another de
cline TO COS cents. About half an hour from
the close the price had once more recovered 10
sos cents. The closing phase OF the market
was one of renewed weakness. New York re-
ported twenty-five boat loads taken for ex-
port. but that fact did not sustain the courage
of the bulls or restrain the aggressive action
of the bears, and a drop from 6O5s to eo14 cents
occurred In the last ten minutes OF the ses-
sion. the closing quotations being COS cents,
sellers.
Although Armour was unloading two car
goes of corn which had been loaded to 90 east,
the market here for that article for a long
time resisted the bearish influence fsuch
proceeding ana likewise the effect of slumpy
wheat market. The combined influences of
what is here referred to and of a slack eastern
demand, told with more effect after half
of the session had gone by. May opened at
3S4 and sold OF TO 3SlS cents. 1t recovered a
little and refused TO go below 49,. cents until
late In the day when there was a further de-
cline to ssh. May closed 3S3kal5 cents and
July at Ss91s, a loss OF about 20 cent since yes
terday.
OdtS were dCtlNe DuJ weak anu Otclutuiy
lower in sympathy with wheat and free SELL
ing by several brokers. Prices receded sharp
ly, the near futures declining Il 10 cent. On
the break there was good buying by the larg
est holders and prices reacted ssa1s cent, the
market closing easy at a general loss Of y 10
cent, September beng the weakest.
Provisions were weakened by the receipts
OF hogs proving more liberal than yesterdays
estimates There was a drop on that of from
5 cents TO 10 cents In pork at the opening.
Lard for July opened at a decline of 21a cents,
and there was a clean stump OF 10 cents In
May ribs s soon as trading started. The es-
innate that tomorrow's receipts of hogs
would number 80 600 head added TO the weak
ness. and the extreme heaviness of the whes:
market clinched IL. There was q decline in
all for the day of S7Is cents In pork, and Is 10
TX cents In lard and 20 cents in ribs. The
trade was extremely bearish Ia expressing
opinions about the market and heavier run
OF hogs in the near future was confidently
predicted among them.
Estimated receipts for tomorrow: Wheat,
IS cars; corn, 10 cars; oats 50 cars; hogs, 3d.
90 head.