The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-02-08

CHICAGO Feb 1.-THE wheat market con-
tinued its downward course today, and land
ed May a cent lower, the close being a new
low price record. Weak cables and mild
weather were responsible for the decline.
May corn closed unchanged, after an early
break and a new low price record. May oats
closed Is cent higher. and provisions slightly
higher all around
Wheat started weak with May "a cent lower,
at 62ss cents Cables were lower, Liverpool
being quoted depressed and pence lower.
Northwestern receipts were again heavy,
Minneapolis and Duluth receipts were 3l3
cars, compared with 2o7 on the corresponding
day of last year Primary market receipts of
wheat today were 4I7,e3O bushels, against
2S7 600 bushels last week, and $4,000 bushels
on the same day last year. Primary market
receipts of wheat for the first three days of
this week were $4,000 bushels over the three
same days of last week. The weather was
mild, and there were no indications Of
weather sufficiently cold to injure the crop.
Under the depressing conditions the price de-
clined, with slight fluctuations, until May
touched CPS cents, a new low price record.
The selling became free and general, being
led by Lanson. Schwartz-Dupee, Ramsey
Chandler and POpe-Lewis and others. Bangs,
trader, was very large seller, presumably
for Seavers and Seavers himself sold, as did
Armour & Co. Wheat which had been held
long time for country spectators came out
very freely. Bradstrect's decrease in the visi-
bic supply and the more liberal export clear
ances had little effect in sustaining prices,
and May closed but Il cent above the bottom
figures of the day. May opened at 623s cents,
advanced 7. cent, lost q cent, and reacted q
ent, to the close, at 62N cents.
Ia corn still lower prices were recorded. the
low mark on May being 36s4 cents and on July
273s cents. The opening trades were "A cent
lower, and on continued liquidations of long
corn the price was forced down another 4
cent, one line being estimated at 100000
bushels coming on the market on this break
There was also free selling by several of the
larger receiving and elevator interests, and
this also helped to depress values. The de-
cline was followed by an improved demand,
and this caused values to react san cent
when the price held steady for time, again
sagged back a fraction, and closed with no
change. The action of the wheat market and
the liberal receipts were the principal factors
iu creating the weakness which prevailed
early in the day. Gables also were weak and
unfavorable to holders.
There was only moderate trade in oats,
and, considering the weakness in wheat and
corn, the prices held remarkably steady. Sell
Ing by longs was surprisingly light, and this,
combined with the late rally in corn, was the
chief cause for the rally of LaaS cent from
the bottom figures The available supply de-
creased 2s9, 600 bushels, which also aided in
the firming up of the market, and May closed
but e cent from the top figure of the day.
Provisions were somewhat nervous and ir-
regular early, opening higher and advancing
on a few shorts covering. and then losing the
advance on the break in wheat, and recover |
ing on a little buying on outside account. a |
moderate break followed on increased scat
tering offers, no one in particular selling !
The volume of trade was moderate. A firmer
feeling prevailed on a little support to the
market later, presumably by the packers and
shorts covering, a good advance from the in
side prices being scored. The final figures
figures were at the outside fer the day for
lard and nearly so for pork and ribs. Com
pared with last night, May pork is Is cents
higher; May lard 2la cents higher, and May
ribs 10 cents higher,
Estimated receipts for tomorrow: Wheat
b. cars; corn, 800 cars; oats, 140 cars; hogs,
% 600 head