The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-01-26
NO LETTING UP YET
WHEAT MARKET Is STILL FLOODED
BY FREE SELLING.
Breaks Again to New Low Price Record
Tor May Of Fifty-Three and Three
Eighths Cents-Selling Independent Of
the General Situation, But an Operation
OF Necessity allure of an Exceedingly
Long Concern Aids the DOwnfall-Cash
Corn In Good Demand-Oats Lower
Provisions Gain.

Chicago, Jan. 25-Under free selling
wheat broke again today and in SO do
ing broke the low price record, May
touching 53ss cents and closing Is cent
lower The failure Of VIM. Young K
Co, aided in the decline. May corn
closed unchanged. May oats Is cent
lower and provisions at slight advances
At the opening wheat sold from "
cent TO % cents decline as compared
with the closing prices of the day be-
fore. May was offered at from 53&4
cents TO 53ss cents and large quantity
changed hands at those prices. AS on
the preceding days of the week. the
selling had nothing to do with any
Change in the general situation Peo-
pie were selling out their wheat, SIM
ply from lack of ability to hold it. A
great deal of covering Of short wheat
for local heavy spectators in the first
hour Of the session turned the market.
May recovered under that influence to
54A as cents by IL o'clock. There
were some rumors of a heavy export
business at the seaboard which helped
10 bring about the improvement but
that was denied little later and upon
that market again gave indications
IF returning weakness. Primary mar
ket receipts were about 1000 bushels
against 209, 900 bushels on the cores
ponding day of the week before ana
lS7,000 bushels on the similar week
year ago. The Liverpool market was
quoted opening weak and q pence low
er but closing II pence recovery from
the opening decline. The export clear
ances of wheat and flour from the four
principal Atlantic ports were equal
to 235,000 bushels. Notice was posted
coming from VIM. Young & Co.. order
ing all their trades closed. AS the
house was long large amount OF wheat
The selling out caused reaction and
the market soon went to 53B cents. It
is said that the embarrassment OF the
firm was known to many at the open
ing and at the selling out for It's &C
count was the true cause for the early
weakness. TIE market turned exceed
ingly weak during the last hour, hqul-
dation being vigorously resumed and
May fell TO 53& cents, making ne"
record but reacted to 53ss cents where
it closed.
The demand for cash corn was good
at from Il cent to " cent advance upon
yesterdays prices. Trade in futures
was only fair in amount May opened
at As cents and Asa cents simultane-
ously 1t ran to ASH 6457s cents, drop
ped back to 45L cents and firmed UP
again to ASH G457s cents at the close
The decline in the middle of the session
was in sympathy with the weakness in
wheat.
oats were fairly active throughout
the session although trading was scat
tered and principally in small lots.
The provision market was firm at
littla improvement. The buying was
principally by shorts and at an ad-
vance of from cents to ~ cents thus
secured there We're again free sellers.
The latest influence upon the market
WIS the diminished hog receipts which
reasserted itself after having beer
showed under for a while, and closing
rates were 21z cents higher for May
pork and ribs and ~ cents higher for
Nay lard.