The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-12-15
THEY TUMBLE YET
GRAIN PRICES STILL FIND PLENTY
OF ROOM TO FALL IN.
May Oats Lacks Nineteen Cents of Being
Three Years Having Been Broken Tor
that ArticIe-LiberaI Receipts of Corn
in Response to Wires to Country Deal
ers and Selling Becomes the Rule OF the
Market-May Wheat Half a Cent Lower
Provisions Advance.

Chicago, Ill, Dec. H.-Prices OF grain
took another tumble today. Compar-
ed with yesterdays closing prices the
May delivery of wheat is Y cent lower.
corn % cent and oats q cent lower.
Corn and oats appeared ITO have no bot
tom; traders talk 26 cents for May corn
and Is cents for oats. Wheat did not
seem Sd entirely bereft of friends The
covering purchases by shorts in pro-
visions caused comparative strength
and some advance in prices.
Weakness was still the prevailing
feeling when the wheat market opened,
and it did not change materially al.
day. 1t was expected that last week s
decrease. in the visible instead Of the
heavy increase which had been looked
for would all be explained on Monday
next by an increase Of 100000 bushels
or over for the present week. 1t Was
contended that nineteen cargoes OF
wheat We're on Saturday last still in
the holds of the vessels in Buffalo mar
Dor which had been counted out OF the
visible last week because the railroad
company there had the orders to for
ward it, and that a large proportion
of that would reappear this week at sea
board points. Ii was claimed that with
an increase for the week as expected at
Minneapolis and Duluth of 1000, 900
bushels and a probate increase Of 1,0OO,-
900 bushels at New York there could
not be otherwise than over 3, 100000 bush
els net increase in the visible. II was
pointed out, however, that, arguing
from just such premises a week ago,
the trade went far aStray. There was
nothing disturbing in the routine news
but under selling, led by Linn, the price
tended downward from start to finish.
May sold early at 60Ss cents and was
being maintained with apparent diff
Guilty at so cents as the session was
drawing to a close.
Receivers received today liberal re-
sponses to the offers for corn which
they wired to dealers in the country
yesterday, and the prospective heavier
receipts thus indica ted seemed to set
everyone to selling who wished to earn
a dollar out of the article. Although
the stocks here are ouly 100000 bushels
and only 400 900 bushels are of the con-
tract grade, a year ago when the price
of Man corn was 4Sk cents the stock
here was 100000 bushel0s, and the price
now is 20 cents per bushel less. The ex
ports for the week were 1891, 900 bushels
or more than 1000 bushels in evcess OF
the weeks shipments a year ago. The
days receipts were 525 cars and 600 are
expected on Monday. May corn was
especially weak and declined q cent per
bushel. December lost Il cent and Jan
uary 4 cent.
There was heavy trade in the oats
market and the session from beginning
to end was very active. During the
early part of the day the feeling was
comparatively firm. Buying was good
and all offerings were taken up readily.
Later, however, the weakness in wheat,
together with increased offerings, caus-
ed a decline, and the record for thirty
three years was broken by May selling
at 10 cents. Yesterday 1885 cents was
the closing price; today 10 cents. The
cash market was also weak. Receipts
exceeded yesterdays estimates by los
cars.
Provisions showed a little strength
because the days run of hogs was &c.
600 instead of $4,000 as estimated. Per-
haps the principal cause of the moder-
ate advance with which the market
closed was that JOHN Cudarhy and
some other shorts thought well of COW
ering. Compared with yesterday
closing prices. May pork is ~ cents
higher, and lard and ribs are each
cents up.
Estimated receipts for Monday:
Wheat. 202 cars; corn, 500 cars; oats,
242 cars; hogs. $4,000 head. For the
entire week 225, 900 hogs are expected TO
arrive.