The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-07-17
SHORTS WORST OFF
GRAINS VERY IRREGULAR AND
WHEAT A FOURTH HIGHER
Reduced Spring Wheat Estimates, Good
Cash Demand and Small Farmers' De-
hveries-Reports of Falling on In
Amounts from Exporting Countries are
not Verified by Later Returns-Foreigu
Markets Lowef-Hoe Winds stories
Scare Corn sellers-Oa;s Fairly Active
and Lower-Provisions Decline,

Snu LOWer-PrOyfSiOus Decline.
Chicago. July 1s.-The grain marke.
was very irregular today. but in the
! end the shorts had the worst of II. al
| though not 10 any great extent. Spring
wheat crop getting down 10 quite mod
crate proportions, good cash demand
Ior wheat and small farmers deliver
les from the new crop, caused only
= cent per bushel advance in wheat
September corn closed unchanged,
September oats Is cent lower and pro-
visions at declines.
| For no reason beyond the speculative
tactics Of one or two of the bear Lead
ers in the market. wheat was depress-
! ed on the curb before the opening TO a
little below the price il closed at yes
terday. September was offered at the
commencement OF the regular session
al from oS cents down 20 673. cents.
Before It received sufficient support to
turn 1t up IL had sugged TO 67sS az
cents. II rose from the latter price to
oS9s cents and declined again 10 6S
cents, with another rise TO 6s2s cents
and fall 10 67ss cents, all these
changes occurring in the first two
hours OF the session. The news from
the northwest and the slow movement
10 justify the several slight bulges The
narrowness Of the trade continued for
some time 10 permit the opposition of a
Few big traders referred TO 10 be sever
ely felt and the numerous attempts
made to run away were thus easily
counteracted. The receipts here Were
~ car loads, OF which only 20 cars
We're contract. The Minneapolis and
Duluth receipts are 165 cars today as
against 32o year ago, but il was not
until after BradStreetS statement of
the weeks changes in the stocks OF
the world came in, showing a decrease
or 3.1Il.OO0 bushels, that the price again
made bolt from the controlling in
uuence Of the crowd, which is selling
wheat under the leadership of John
Cudahy- 1t made jump on the Brad
street report from around 6112 cents 10
tSH cents. The bears were enabled to
break the price to 6112 cents before the
rise last mentioned because the Rus
sian shipments for the week proved to
have been 1920, 900 bushels instead Of
5,oUO,OOO bushels. as cabled yesterday
ana the total shipments for the week
from all exporting countries sos. 600
bushels in stead of about $500. 600 BUSH
els as estimated on the previous day.
Lower cables helped them also; Paris
was centimeS lower and Berlin fell Ia
to mark. Export ciearances from the
Atlantic seaboard amounted in wheat
and flour to about 170. 900 bushels The
narrowness of the market and the To-
cal character Of the trading may be
judged from the fact that the selling
OF 100000 bushels by a broker for. Cush
Clifford caused a break OF ! cent per
bushel. The wheat was sold at 6S
cents and the buyers suddenly discov-
cred that they had no use for II and in
getting rid OF 1t broke the proce to 667s
&6I cents. In another fifteen minutes
1t had recovered TO 6S cents again. A
good inquiry for shipment was the lat
est support TO the market. About ESQ.,
600 bushels. or perhaps 800, 900 bushels,
was reported sold. The Minnea polls
Market Record estimates the wheat
crop of the three big northwestern
states at 1S0.000.000 bushels. which
would indicate a total crop. winter and
spring together. of not over 1000. 900
bushels. making the very liberal allow
once of 2o,000.000 bushels for spring
wheat outside OF Minnesota and the
Oakotas. The market closed firm.
Corn was a very ragged and peculiar
market. 1t was the May shorts who
today were reporting and regretting
that they had not previously bought
instead of having sold. Hot winds, IL
was reported. were damaging the
hitherto magnificent growth OF crop
in Kansas and Nebraska. The May
shorts took in a lot OF their contracts.
September was comparatively quiet.
while May closed with an advance OF
cent per bushel. September, after
ranging from ass TO Asa cents. closed
at 45a. cents, or at the same as yester-
day. May closed at 37S cents, after
selling at 3112 cents. Today's receipts
were 25S cars. Corn here Is reduced 10
], 070, 1000 bushels.
Trading in oats was only fairly active
We're confined TO a very
narrow range and ruled easier during
the entire session. September ranged |
from 232s cents to 23h cents and closed |
at 23A cents. Receipts aggregated |
Isl cars, 135 cars OF which was graded |
contracts.
Provisions were subjected 70 anoth- f.!
er raid today. The local shorts are J
looking for stop-loss orders and expect !
TO bring them out by shouting the /
price down. They caught a few today !
but not enough for the full extent OF l
their purpose A good many OF today's /
transactions were for January delivery.
September pork ranged from 81 down 4
TO 5000 and closed at sl0.S5. a decline 4
of 11i2 cents September lard declined /
~ cents and ribs cents Hog re-
ceipts were T. 900.
Estimates for tomorrow: Wheat IS 4
ears: corn ITO cars. oats 80 cars; hogs I
i, 900 head.
Chicago Markets
The leading futures ranged as follows: