The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-06-20

Chicago, June 19.-The speculative
mearkets were all very weak today.
more especially wheat. The heavy de-
cline of pa cents per bushel in the price
of wheat was said 10 be because of the
gold shipments in the near future.
Heavy selling orders from New York
were said 10 have been induced by an
ticipations Of that character. Corn sub
sided cent per bushei on the progress
being made by the next crop; oats lost
"a cent and provisions weakened in
sympathy with the decline in grain.
The demand for wheat at the opening
was much less active than It was at
the close of the previous days session.
July found no buying at the start at
over 74A cents and there was no gener-
al demand at over "a cents. At the lat
ter price, however. and at 70 IS cents
at which there were few sellers for an
instant, the demand exceeded the sup
ply and for half an hour il kept grow
ing and SO also did the price. Al 10
o'clock the trading was at liss cents
and il held between that and 1iss cents
for half an hour thereafter. The weak
ness at the opening was because OF the
small account taken by European ad-
vance here yesterday, cables being gen.
orally lower The reaction which sue
ceeded the opening decline was due TO
reports from various quarters of rain
interfering with the harvest and of
some foreign buying of futures here
and at New York. The firmer feeling
under which the price had advanced
to 74ss cents was replaced by weakness
again and by 10:45 o'clock il was to "A
cents. On the decline which followed
the early advance the price touched 80
cents. but there was buying enough
to stop the decline and cause another
reaction which, however, was arrested
at 1874 cents and the next decline was
to 1919 cents, which was current about
IL 80 a. m. The weakness was first on
account Of the small export clearances
which from the four principal Atlantic
ports amounted to only $4,000 bushels
in wheat and -four together. That was
followed by very weak closing cables
from Liverpool. Some private dis
patches reported the decline since yester
day at II. pence per Genital. Berlin and
Paris were quoted a trifle higher. The
reports from the winter wheat states
were conirmatory of the very serious
damage previously announced, but from
the spring wheat states reports OF the
most glowing character as TO the magni
fcent crop outlook made a cheerful
background for the otherwise sombre
picture. An attempt was made to set
the grasshoppers onto the spring wheat
crop, but 1t was unsuccessful and short
ly after IL o'clock the traders were
struggling with July wheat down ar
ound % cents. The prospect of gold
shipments in the near future was talked
of as bear feature and given as a rea-
son for the heavy New York selling
which marked the session. Some cash
wheat was reported sold here to go to
Milwaukee and New York reported
some inquiry for export, but IL was for
spring wheat and the quantity wanted
was not large enough to have any in
fuence in arresting the decline started
by the weak close to the Liverpool
market. The decline TO % cents caught
good many stop loss orders, the SELL
ing in consequence OF which caused a
further decline to the lowest point re-
corded on the break of two days ago
A few minutes from the close there were
sellers of July wheat at 72ss cents. and
it closed at 717s cents sellers a-xer
sudden drop to 17A cents. September
sold at 1874 cents and that was the clos
ing price.
The corn market was firm for a time
near the opening. but when wheat show
ed such heaviness the corn market turn
ed around and also became very heavy
Inc receipts gave no evidence or Decom-
ing Immediately larger. and they were
small today. The opening price for
July was from b0ss cents to 501z cents
and from u to u cent gain on yester-
days closing price. 1t quickly declined
TO 501s cents but recovered again to SOL:
cents before 1t commenced the other
down turn. from which there was no
to 4shGH cents. the bottom
of the decline where the price rested.
Only a fair amount OF business was
transacted IN oats. The market fol-
lowed wheat and corn during the entire
session. September ranged from 295t to
2sA cents, resting at the low price.
The provision market appeared TO be
swayed 1 nthe direction Of the fiuctua-
tons OF grain The fluctuations in the
hog products were confined TO a mar
row range, but after the first half hour
Of the session the tendency was DOWN
ward AID the market rested at the
lowest figures OF the day. Pork, COM
pared with yesterdays closing rate. Is
121a cents lower, lard ) cents and ribs
~ cents lower. Hog receipts were
q. 900 head today.
Estimates for Thursday: Wheat -
cars: corn 80 cars; oats 10 cars; hogs