The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-12-18
WHEAT GOES DOWN
ENORMOUS INCREASE IN THE Wis.
IBLE SUPPLY DOES IT.
Market Opens Firmer Than Of Late,
Bnt Yields to Two Million Bushels
Increase.-COrn suffers From the
Same Cause and Goes Lower.-PrO-
visions Slightly Higher.

Chicago, Dec. 17.-Wheat went down
today under a heavy increase in the
visible supply, May closing q cent
lower. May corn closed = cent and
May oats 4 cent lower, but provisions
1 made slight gains.
/ The wheat market at the opening
/ showed a firmer tone than toward the
| close Of Saturdays session. The short
sellers appeared TO have discounted on
/ Saturday and expected $4,000 bush
! els increase in the visible supply. and
the better feeling among the longs
was due to a decided falling off in the
northwestern receipts and to encour-
aging cablegrams from Liverpool.
There was tendency toward a decline
shortly after the start, when Mime
apolis stocks were $1,000 bush
els heavier than on Mon
! day last, or 100000 bushels
more than Saturdays advances from
there had led 10 the expectation Of
I The slight drop in prices. however, was
soon recovered from. The visible sup
ply soon gave such evidence as induced
the expectation Of a much heavier in
crease than had been lookd for. and
that put an eXtinguiSher upon what had
begun to assume the appearance of a
very strong market May, which open
ed at from 5S3s q 5S%i cents to 5SS4 cts.
had gradually improved until ii reached
SO cents, but as the huge increase which
latteriy was confirmed began TO deep
en- its shadow on the market the under
lying bullish feeling gradually
oozed out and about an hour from the
end Of the session the price was down
to 5Sl2 cents. The later cable news was
rather in favor of the bulls. The days
-,
giving encoura cement TO holders. In
the last half hour the effect of a 1000,
600 bushel increase in the visible sup
ply at such a late season of the year
was making itself more effectually felt
and the buying was overwhlmed by the
selling orders. The prices dropped for
an instant to 5S1s cent and closed with
sellers at 5SA 05S%.
Corn opened with sellers at a shade
under tn price which was bid at the
close on Saturday and it gradually sank
until il had declined a half cent I'M
der the highest price paid a. the start.
The receipts somewhat oVerran the eS-
Inmates. The amount on ocean pass
age increased 800, 900 bushels last week
and the visible supply showed an in
crease of 1.l70,000 bushels against $780,,
600 increase on the year bfore. May OPP
ened at 50k cents touched 1875 cents
and closed at 1879 cents.
In oats the sympathy existing with
the corn market was great. The ele
vator concerns Were Offering quite free
lyMay started at 329sd1a cents. sold
down to 3214 cents, closing at that fig
ure.
Provisions We're firm but the i'm
provement in prices which was estab-
ished did not produce any activity in
the trading. Instead of 1900 hogs as
estimated on Saturday, only $1,000 We're
received. Pork. lard and ribs each
started at a good advance and held it
very we'll in the face of weak wheat
and corn markets. Estimated receipts
of hogs for tomorrow of only 1900
helped in keeping the market firm.
At the close the advances were as fol-
lows: In pork, 10 cents; lard and ribs
each cents.