The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-08-04
GETS II HALF BACK
WHEAT DROPS A CENT AND MAKES
PARTIAL RECOVERY.

Prices Down to an Export Basis-Arsentine
is Out of the Exporting and Russia Soon
will Be-Importing Countries Must
Look Hitherward-Corn Decidedly
Weaker, the Continued Eject Of a stu
pendous Prospective Crop-Oats Lower
than Ever at Chicago in the Like Season
Shorts Buying steadies Provisions
Chicago, Aug. 3.-Wheat at one time
today had lost 1 cent per bushel Of its
previous closing price but recovered
Y cent of that. II had to get down to
an export basis and did, Isl. 900 bushels
being reported taken here today for the
foreign account and shipment. Corn
and oats had further heavy shavings
planed of their already thin values
and at the close, compared with yester-
days final quotations, corn was / cent
per bushel lower and oats J. cent low
er. Provisions had TO depend upon
shorts 10 do the buying, which caused
prices to rally near the close TO about
the level of yesterdays resting rates.
Wheat was weak al the opening and
then became suddenly stronger for
few minutes. The first trades were at
from 6S% TO SSA cents for September
and inside OF fifteen minutes IL had
risen to 69A cents. At that point the
offerings and sale of about POO, 900 bu-
shells by a prominent operator appear
ed 10 alarm the operators. The price
a short effort to hold it about the level
of the open price TO which it had re-
turned the holders sought further re-
lief and made another general rush to
throw overheard a greater load of their
holdings. Before IL o'clock Septem-
Der wheat had declined to 67I. cents or
little more than 1 cent below the close
of yesterday. OF fresh news to ac-
count for the days additional weak
markets were closed. this being a bank
holiday in England. and there was
nothing fresh in the domestic situation
The European continental markets wer
&, however, reported to be firm and high
er, supposed to be because of wet wealth
er, the European winter wheat harvest
being in full blast and the appliances
for taking care of the cut grain being
much inferior to those in use here.
Chicago receipts were IS cars of which
Il cars were new red and only six Of
Tie were tOHli
neapolis and Duluth received 9S ears
against 163 cars a year ago. The total
receipts at the primary western mar
kets We're SOS, 900 bushels compared with
910, 900 on the corresponding day of the
previous year. The weeks clearances
of wheat at and from both coasts this
week amounted to ,460, 900 against l.
PCS, 900 bushels on the week previous.
Today's exports were equal TO about
= Il l..
came unchanged for wheat but 20 GEN.
times higher for flour. Berlin quoted
an advance of Il. marks. Argentine
wheat shipments for the week Were
1000 bushels, so that the competition
of<hat country may now be considered
over for the season. Russian ship
ments should also be reduced, tenn
porarly at least, and with these re-
auctions the European importers will
have TO draw from this side. They
made a start today in that direction.
Hotchkiss sold 10000 bushels for ex-
port. Baltimore wired early in the
day $4,000 bushels of wheat sold for
export and working $4,000 bushels more
The visible supply, which increased -.
100000 bushels last year. is expected
TO show a decrease of from 300. 900 TO
100000 bushels on Monday. After strik
ing 671a cents September wheat reacted
TO SIS cents and closed at 677sM6S cents.
The corn market was weaker again
today and very decidedly so. Septemb
or opened at AZ cents, improved TO 423s
cents, dropped TO Az. cents and closed
at Ass cents. May from 50 cents de-
clined TO 342s cents and closed with sell
ers at 34A cents. II was the mere con
mutation of an expected stupendous
crop. Today's receipts were 400 cars.
New York reported 40 boat loads taken
there for export Freight room for
220, 900 bushels was taken here. Argen-
tine shipments for the week were re-
ported at 100000 bushels.
Oats sold today at the lowest point
ever reached in Chicago at this sea-
son of the year and under any price
that has ever been touched in New
York at any time. Cudahy bought in
quite good deal of September and sold
May at a difference Of 31s cents. Adj
vices throughout the oats-growing ter
ritory state an enormous crop and with
the fine clear weather now prevailing
it would not be surprising 70 cut anoth
er almost equally as large September
was offered at 221s cents, sold up TO
2l%f cents, with the corn market de-
clined TO u cents and closed at 214
cents.
The provision market was affected
by the small run of hogs to start with.
then by the weakness of corn and later
by covering OF shorts. Owing TO the
last named cause pork recovered 1919
cents Of a 10 cent decline and lard and
ribs each rose ) cents above the low
est price they reached early in the ses-
sion. The hog receipts today were
only 1000 head and for the weak 80 200
against 1S2.115 on the corresponding
week Of the year before The next
week a run Of $1,000 head is expected
Estimates for Monday: Wheat JOS
cars: corn sos cars; oats 255 cars; hogs
l6, coo head.