The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-07-06

Spring Wheat Country, which Means
Rust-Then the Export Demand fails
st. Louis Report Is . BulI-Scarer. Even
Though it is Pretty Rank-septemberi is
Five-Eighths Cent Lower-Corn and
Oats Close Mt the Low Point-Provisions
Decline.
Chicago. July 5.-After a hard strug-
gle for higher prices wheat turned
weak today on favorable crop reports
and lack of export demand. closing -
cent lower for September. Corn closed
"a cent lower, oats q cent lower and
provisions at general declines.
Steadiness on the foreign exchanges
and rain intermixed with high tenn
perature in the northwest gave the
wheat market a strong send of and
kept it strong for an hour. Light re-
ceipts likewise contributed Their quota
TO the aid of the early advance and
later some kilograms were received
from Minneapolis which seemed TO
justify the apprehensions which the
weather report had raised regarding
the spring wheat. The firmness OF the
market continued until the receipt OF
the Missouri state crop report which
was of a surprising character and
caused the loss in a few minutes OF all
that the market had gained up 10
the time of it's receipt The June re-
port of the Missouri state authorities
placed the condition of wheat at 80.
and now it puts il at 13. or IA points
higher than in June, which is so man
ifestly wrong that the trade here soon
rnr trA a hoo N
back some of the wheat thrown over
when the report referred TO was first
sprung. The government agricultural
bureau made the condition OF winter
wheat on June 1 30. and the Prairie
Farmer and Orange Judd Farmer sta
tisticians made substantially the same
returns concerning IL, and both or the
latter have since brought the condi-
ton up from TO points since June l.
The state authorities were evidently
in error in giving the June condition as
low as SO per cent and in bringing IL
up to 70 now they are quickly coming
into line with others and correcting
their previous estimate, which was en-
tirely too low. September which had
kept within range OF III cents and
Tx cents the greater part of the time.
was down 10 702. cents about half an
hour from the close and rested at 70Ss
cents. Trading in corn was largely on
local account and of no great volume.
Considering the moderate amount Of
business, the fluctuations were fire.
Quent but not very violent. Between
46k and 1865 cents for September. the
price moved up and down several
times.
The generally stronger tone which
prevailed early was due TO the mod
crate exports and good cash demand.
Spot corn to go TO store was wanted at
46A cents. Receipts today were 100
cars and tomorrow's estimate is for
246 cars, which will include the ac-
cumulat ton of the holiday. September
opened al from 46ia TO 46h cents, sold
as high as 465s@46A cents and down
to 45I2I45& cents near the close, the
latest trading being at the lowest quo
tation.
In oats business was fairly heavy
and the market quite active through
out. September ranged from PASS cents
to "A cents, closing at the low point.
The provision market was strong at
the opening anu weak at the close. The
opening strength was on account Of
the light run of hogs, and the wean-
ness in the end by reason of heavy
selling by John Cudahy. The re-
ceipts of hogs for Wednesday and
Thursday together were only 1000 and
today only $4,000.
Estimated receipts for tomorrow:
Wheat 43 ears: corn 246 cars; oats $50
cars: hogs II. 900 head.