The Wichita daily eagle., 1895-06-30


Chicago, June 29-Wheat. corn, oats
and provisions all closed with some im-
provement today. The grain markets
were weak TO begin with, but provisions
struck bullish gait at the start and
kept ii up. Wheat rose from us cents
for September to 727s cents and corn
from AIS cents TO 4s1s cents. Liquida-
ton on July wheat, (which was the
chief feature Of the first hours trading
in that article. had run its course in
that time and having done so, the short
sellers found themselves confronted
with probable small deliveries on July
contracts and the old wheat all tied up
again for another two months.
Wheat began as it had left off yester-
day under the influence of liquidation of
July holdings. For about half an hour
that was the feature of the local trade
which overshadowed everything else,
and under the influence of which de-
cline of g cent occurred and the diff
ference between July and September
widened at one time to rs cents. The
chief items of the market news referred
to the weeks shipments, and those told
in favor of the bears. From both coasts
Bradstreet'S reported the shipments Of
wheat and -four at l ,946 against 2,S5i,-
900 the week before and 1,7l1.000 bushels
on the corresponding week of 1894. The
Argentine shipments for the week were
$4,000 bushels, which is about double
what was sent out on the previous week
and so large as to upset confidence in
the previous reports of exhausted stock
in that country. Today's receipts at
Chicago were nominally ten cars. but
that included five cars transferred from
irregular to regular city houses. Min
neapolis and Duluth received 237 cars
compared with 2o7 on the corresponding
day of last year. The opening prices
were about the same as the previous
days closing quotations and for min
ute or two there were enough buying
strength to the market. That gave
way before the persistent selling out Of
July by those who did not wish 10 take
what might be rendered to them on
if they should remain holders
Of their contracts till then. The price
of September at the start was from
13s cents to 717s cents. with Tx cents |
a couple of minutes. Following that |
the tendency for an hour was steadily |
downward until at 71A cents the selling |
relaxed and the rather confident con- |
viction Of a still further breaking gave |
place to alarm on the part of those who |
had been trading upon such con- |
viction. The reaction was sudden, !
and in ten minutes the decline which an |
hour of persistent selling had brought |
about was recovered and an advance |
established. About half an hour from |
the close September had risen TO 72A |
cents. The news concerning the winter /
wheat threShings reproduced what had |
been remarked about the /
unsatisfactory yield and the miserable |
quality. The feeling of danger to those !
IN the short side with new wheat, which |
S coming TO market not much better |
han the tailings of previous years. was
he uppermost thought in the minds OF
he crowd as the season was nearing its
md and caused the price to advance
% 1878 cents. The closing transactions
we're at 7224 cents, with July is cents
lnder that.
Corn was dull and Of itself heavy.
,ut buying was discouraged by the clos
ng strength in wheat and after an
.arly decline of Il cent per bushel it
,losed with Il cent gain. The range
or September was from AS cents to
Sh cents, the lowest price being made
lear the opening and the highest at /
he close. The trading was principal
Y in the way of changing July wheat
ntO September. The receipts or today
we're ia cars and 100 cars are expected
or Monday. The Argentine shipments
or the week amounted to 100000 bu-
hels.
A good general business was trans
lcted in oats. eptember and May
uled considerably firmer. but the near
deliveries were barely steady at the
lose and ruled easier during the great
r part of the session. The firmness in
he deferred months was almost en-
irely in sympathy with wheat and
'orn. September ranged from % to
SIS cents. Yesterday Is closed at 25A
D9s cents and today at 25A cents.
Provisions recovered the bullish tone
which appeared to have deserted them
esterday. The hog receipts were only
/ 900 and all told for the week only
l3 600 came TO hand. compared with
q 900 on the week a year before. The ,
expected run for next week is guessed
[ 100. 900 and that also helped TO pro-
uce the firmer feeling which prevailed. .
Compared with the previous days clos
lg prices the following are the gains
established by the general transactions: ,
n pork, l1la cents; lard, cents. and ,
lbs, ~ cents.
Estimated receipts FOR Monday:
Wheat, 80 cars; corn, 100 cars; oats, go
ars; hogs, for next week. 100000 head
Chicago Markets.
THE raadi-r rrt.rr-eS ranreJ Foifora. 4