The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-06-23

Chicago, June 2a.-The wheat market
started in violently bullish and wound
up extraordinarily bearish. The first
prices made today were at an advance
OF about l cent per bushel and the last
at decline of little more than that.
From the highest price at the beginning
10 the lowest near the end there was
drop OF "a cents per bushel. The
early advance was owing TO the publ
cation Of some very strong features
or the present situation and the decline
near the close resulted from the liberal
selling of a few heavy operators who
had bought no extensive lines OF wheat
on the day before. A break in oats
started a decline in corn. Corn at the
close showed a loss since yesterday OF
Is cent and oats decline of is cents.
Provisions are not materially altered in
value.
The market ran into a pocket of bull
liSh news items previous 10 the opening
and accordingly it started Str,Ag. The
first trading in July was at from ia 10
q cents as compared with 101s cents AT
the close of the sessiin yesterday and in
September was at from 731s TO 1872
cents, or an average of nearly l cent
per bushel advance. Trading was &C
tive for a few minutes in both deliver
les at around ia cents for July and
1914 cents for September and then both
broke about q cent in quick order, July
to IL cents and September ii 725s cents.
On an advance which followed the pre-
MUM paid for September increased TO
IA cents. Among the various matters
which caused the bullish feeling, indi-
Gated by the higher range, were the FOL
lowing: The statement of the secretary
of the Kansas board of agriculture,
which indicated a total of between r.
100000 and IL, 500, 900 bushels as against
a probable y 200, 900 bushels calculated
from the government acreage and con-
dition on June 1. California was also
reduced from about A, 000, 900 bushels as
indicated by the Washington authors to-
SO, 000.0 900 bushels the latter being Brad
streets estimate as published this morn
ing. The Liverpool market was quoted
q pence higher. The weeks clearances
of wheat and flour were 2,S57, 307 bushels
compared with 1,71s,000 bushels in the
previous week. The reaction from the
first decline carried the price of July
up again to 71% cents and September
10 1872 cents and from these prices there
was another decline TO 70Z cents for
July and 721a cents for September about
IL o'clock. 1t had another y cent ad-
vance and then allowed a ational
and rapid decline. July dropped to 695s
a q cents and September to 71AeDs
cents and those We're substantially the
closing prices. The selling was fast
and furious, Partridge leading the raid
with heavy short selling. New York
was also free seller. and claimed that
foreigners were selling al the seaboard.
Corn was firm for few minutes at
the opening in sympathy with wheat at
that time. In the last half hour of the
IL a.
a heavy decline in oats and of course en-
couraSed by the favorable growing wea-
ther. July opened at 40 cents or 1s cent
higher than ii closed yesterday. The
decline referred to was what took the
price down to AK cents, and As cents
was the latest. The receipts were 15S
car loads and q. 900 bushels by canal
and q cars of the rail receipts were
transfers from unlicensed houses.
Oats led the grain markets today in
the very heavy feeling noticeable. There
was very free selling, principally of long
stuff, that holders were scared into
disposed of. There were selling orders
from Wall street and brokers here
readily followed. udahy, Giffard, Bros
principal sellers. The crowd in general
also sold. as well as took up most OF the
offerings. September started at 2S
cents, sold at 2Sd1s cents, dropped off
TO 26A cents and closed at PCS cents.
Provisions opened up strong and had
every appearance of continuing so. I'M
til the break in the grain markets in
duced some selling and closed the mar
ket at a slight decline for the day. The
hog receipts for the day We're 1000 and
for the week 1888 head. compared
with 163,007 for the corresponding week
Of the year before. Pork started with
an advance of from IL to 10 cents,
dropped 20 cents below the highest
point made near the opening and closed
with loss of about cents for the day
Lard showed no change from yesterday
and ribs were also worth virtually the
same price at the close yesterday and
today.
Estimated receipts for Monday
Wheat so cars: corn 100 cars; fats 240
cars; hogs % 600 head.
Chicago Market.
Tba leading frrtr1raz