The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-03-22
TOO MUCH TN SIGHT
WHEAT wEAKENS ON THE PROS
PECT OF BIG RECEIPTS.

Northwestern Wheat Receipts Larger and
Big Increase in Farmers' Deliveries
Expected Clearances Lighter
Germ as PerverseIs f.cfuses TO Advance
on BulIish News n it is Wont to Jump
at no News at AIl--Oats Fairly Active,
with Cash Prices Lower and Futures
Thereby Depressed.
Chicago. March 21.-Principally be-
sause of the general expectation of a
ieavy increase i'm receipts wheat was
weak today, closing a cent lower for
Nay. May corn closed IS cent and
May oats X cent lower Provisions
were strong, showing good advances.
Wheat opened up B@A cent above
yesterdays closing price for the May
delivery, but without an imitation or
suggestion of enthusiasm among even
those who We're doing the buying. The
hrmer feeling was caused by what
came over the wires from New York.
Wheat was taken by millers for home
use and by exporters. something
like 100000 bushels was counted UP,
Including i'm that the quantity taken
here. In addition to that the faction
might have been nervous from the sum
mary of the Cincinnati Price Currents
remarks, wherein IL stated that low
supplies of wheat are almost uniformly
reported" One cause for further sat
isfaction lay in the firmness of Euro
peaR continental markets, notwith-
standing the weakness which had pre-
Vailed here yesterday. The advance
referred to as having occurred at the
nraa iy,-~ n % 1a-t L.,
succeeded by a weaker feeling for which
the domestic situation was response
BILE. The receipts at Minneapolis and
Duluth today were 362 cars against 273
on Thursday a week ago, and 240 on the
corresponding day last year. Advices
from the northwest were to the effect
that he receipts from the farmers this
week would amount TO about 2,o00,0 900
bushels, or 500, 900 more than last weeks
farmers deliveries. The winter wheat
receipts are again indicative of reer
movement from farmers. The Allan
tic port clearances, including $4,000
bushels of wheat from New Orleans.
amounted to a total Of only 1SS, 900
bushels. including the -four. In addi-
ton to these beaIish features the later
cables came lower and May wheat, I'M
der that combination, dropped at about
11:30 a. m. to 551s cents. The decline
made il possible to work some wheat
for export and when that was done the
price rallied again to 55$s cents. May
became weaker in the last hour and de-
clined sharply. closing at 647s cents.
Corn did not show as much inclina-
ton to advance upon the receipt of
favorable news as it had been giving
for three days past to jump without
any news at all. A report from st.
Louis that 700.000 bushels of corn had
been worked for export from there via
Newport News scarcely produced a rip
pie in the market The heaviness of
wheat was probably affecting corn
traders in the absence of any large
transaction, by the plungnig element
among the local spectators. The re-
ceiptS were 131 cars. The closing ca
bic from Liverpool quoted that market
]. pence lower, and the export clearanc
ces from Atlantic ports amounted to
only 1885 bushels. May opened at
(, y cents and for long time fiuctuated
lCtween 476463s cents, with the ten
which came later. About twenty min
utas from the close of the session the
tr1dinC was at 46ss cents. The finish
US - 46i5 cents.
oats were fairly active. The prin-
lg.al feature of the market was the
cling of May and buying of July.
V"i-n reduced the difference IN their
respective value - al cent SdSn pTi-
ces were 14Mi2 cent lower and that
oppressed the futures somewhat. May
started at 259s a y cents, sold at 2912
cents. declined TO 29029ls cents and rest
ed at 29iz cents.
Provisions was the only one of the
larger speculative markets which gave
TIE Least indica ton of bullishness, from
which cause the general provision mar
ket was very firm. and the whole trade
talking higher prices. Al the close,
compared with yesterdays final rates,
pork was - cents higher, lard az @10
cents and ribs ~ cents higher.
Estimated receipts for Friday
Wheat 40 cars: corn $50 cars; oats 120
cars: hoes - 600 head