The Wichita daily eagle., 1894-02-07

CHICAGO, Feb. 6.-wheat closed, today, one
cent lower than yesterday and made a new
low price record for May at 625S cents
Weaker cables, large northwestern receipts,
small clearances, mild weather and free
liquidation were responsible for the decline.
Corn went down with wheat and closed a
cent lower for May. also making a new low
price record. May oats closed Il cent lower.
May pork lost so cents, May lard l5 cents and
May ribs 221s cents.
Wheat started weak with loss Of IS cent
for May at 6314 cents The days news was
bearish, and the bulls had apparently sought
cover. The foreign markets were weak and
lower The London Mark Lane Express said
English wheats were generally per quar-
ter TO cents a bushel lower, and there was
40 demand for foreign wheat. The clearances
or wheat and flour from the four principal
Atlantic ports were only 10000. The de-
cline was attended by few rallies. Captain
Phillips and Partridge bought on the first de-
cline, but when their wants were supplied
prices went down again. Valentine, Armour
q Cos principal broker was one of the con-
spcuous sellers and there was free lquida-
ton. The closing cables gave evidence of
continued weakness in the markets across
the pond" and May finished easy. May
opened 6314 cents and with slight fluctuations,
declined ss cent and reacted "a cent to the
close at 62N cents.
Corn made a new record today May selling
down to 38aS11I cents, and July 375zass cents.
which figures are the lowest since the life of
these futures. The continued fine weather,
continued liberal receipts and the action of
wheat, are all active depressing influences.
CaDies were weak and lower and outside
markets were all easier. The opening trades
were at a fractional loss and under moderate
offerings and lack of support sold down 3Ia1h
cent more, rallied a trine and closed with
May Is cent from the bottom figures of the
day.
In oats there was fair trade and easier
Keeling, but considering the We akness in other
grains oats held up well. Prices only de-
clined 1saA cents and closed x cent above the
bottom figure The decrease of stocks of
contract oats In store aided in maintaining
prices and there was little disposition to SELL
PROVISIONS opened easy and slightly lower for
pork and ribs on decline In prices for live
hogs at the yards, Notwithstanding lighter
run than anticipated. prominent commits
sion house then offered the product freely,
particularly pork, which resulted in a further
neciine, lard and ribs responding. The vol
nme of trading was light, in the absence of
any support. The break in wheat and corn
also contributd to the weakness The decline
continued With the packers selling, and with
nothing to sustain the market, a few orders
coming In to sell. A moderate reaction fol-
lowed On little buying and then the market
went ali to pieces on some stop selling orders
coming out. There was a slight recovery
Just before the close with the feeling weak
and with last prices near the bottom Com
pared with last night, May pork is so cents
lower; May lard l5 cents lower, and May ribs
IN cents lower.
Estimated receipts for tomorrow: Wheat,
70 cars: corn, $50 cars; oats, los cars; hogs, 23
600 head.