The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-06-25

Chicago, June 24-After bobbing up
and down frequently over pa cents
range. wheat wound up firm and u
cent higher today, helped by a big Wis
ible supply decrease. Corn closed I'M
changed, oats Is cent lower and provis-
ions at moderate advances
Wheat opened strong a from I. 20 I
cent advance over Saturdays closing
prices and before the rush TO buy had eX
hausted itself il had made gain OF
IL cents. People were running around
inquiring the reason for the sudden
strength and the most frequently sug-
gested cause was the continued pre-
valence of wet weather and high temper
allure in the northwest. That was con-
sidered threatening to spring wheat
and was supported by some kilograms
from Minnesota reporting some wheat
in valleys already rusted. There were
other reasons which may have prompt
ed the sending here of some good sized
buying orders by New York people.
The Russian shipments last week were
4,S00.000 bushels compared with nearly
100000 the previous week. The Ar
gantine shipments for the week, as OFF,
cially posted here were 456, 900 bushels.
The total Of the weeks shipments from
all countries W as 1.S00. Geo bushels short
of those of a week preceding and the
amount on ocean passage is 2.0SO,O00
bushels less than il was week ago.
The later items of news came in one
by one after wheat had turned down
again and the market kept declining as
they Were severa1ly announced. The
decline in the face of such news-irres-
pective OF the domestic crop damage
was surprise TO the crowd and as diff
cult to account for as the earlier bulge.
The decline was rapid and severe. The
price of July. which on the opening
advance touched II cents, dropped 10
6S$4m3 cents before IL 80 o'clock. The
activity of the bears added TO the liq-
uidation by the longs OF their July
wheat was the chief reason which made
the decline from II to 6Sa4G7s cents
possible with SO much exclusively bull
ish surroundings. The visible supply
decreased ] .492. 900 bushels and the total
now is 46. 225, 600 bushels compared with
90. So. 900 bushels a year ago and 63 .0SI,-
600 two years ago. The amount in the
visible supply outside of the stocks
held at Chicago. Minneapolis and Du-
luth, is only S461 900 bushels. 1t was
after the visible figures were received,
but by no means exclusively on ac-
count Of those, that the third surprise
TO the crowd was sprung upon them.
That refers to the course of the fiuctu-
ations, which again moved in an up
ward direction. and near the close July
wheat again reached II cents. The lat
est trading was 7oH cents. The lat
cent drop occurring in the last five min
utes.
Corn was quiet for a moment at the
opening on account of the squirt in
wheat at that time. 1t came under the
influence of the fine crop prospects lat
er in the day and had a sharp break
from which 1t recovered near the end
and left off about the same value as on
Saturday. July opened at As cents. The
visible supply decreased 1856. 900 BUSH
els. making the total now 9, 499. 600 BUSH
els. New York reported a good demand
for corn for export and sales of from
20 TO % boat loads and 300. 900 bushels
was the amount said to have been sold
for shipment here. that probably In
Guiding the export sales reported from
New York
A wild and excited market was re-
ported for oats during the first half
hour of the session. Shorts were the
principal promoters of the paniky feel
ing, buying freely and forcing prices
up. Later. however, the same parties,
who Saturday were prominent for dis
posing of heavy lines OF long stuff. re-
sumed their pounding and created
pi6 hiop III tuc early gam september
opened from 262. to 27E cents. declined
TO 252. cents and closed at 2sI5 cents.
The later advance was caused princi-
palty through sympathy with wheat
and corn.
Provisions were firm at the opening
and after temporary weakness in the
middle of the session. closed firm at an
advance Of Is cents in pork, 21z cents
in lard, and cents in ribs. Hog re-
ceipts We're $4,000 head. Trading was
only moderately active. The firrnness
at the start and finish was mainly in
sympathy with wheat.
Estimated receipts for tomorrow are
Wheat 40 cars: corn 10 cars; oats 325
cars; hogs Is, 900 head