The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-04-24
BACK TRACK TAKEN
WHEAT OPENS AT 4 DECLINE AND
KEEPS ON DECLINING.
shorts Got just About All They Wanted by
Mondays Buying and the Demand is
All Punched Out-Sellers Abate Not
Their Anxiety, However, and a Slump Of
Cent and Half Results--Day's News
Generally Bearish--COrn Follows Wheat.
to its Loss-Oats and Provisions Lower
Estimated Receipts.

Chicago, April 23.-Wheat turned
| sharply today and started down at
| hot pace. Lack of demand and free
selling weakened wheat and the other
markets. followed. Wheat closed at a
decline for the day of IL cents on the
| bushel; corn at a loss of rs cents; oats.
| u cent lower and hog products finished
at declines.
Wheat started at IL cents decline.
| Shorts had apparently covered TO con-
tentment and there was too much
| bearish news to encourage sellers. The
public Liverpool cables giving the open
! ing of the market described it as steady
at 4 pence decline. Another Liverpool
| cable said that milers were refusing
! to follow the advance, prices 1 pence
| lower since the opening. The Russian
shipments of wheat and -four for the
week were reported to be-, 400, coo bush
els and an addition Of the clearances
from all the exporting countries re-
veals a total Of 1883, 900 bushels, COM
pared with estimated weekly require
ments by the importing countries OF
500 900 bushels or an excess of ,6S9, coo
bushels for the week. The receipts for
the day at Minneapolis and Duluth
We're 2S6 cars, compared with 1873 cars
on the corresponding day of the year
before. An item of considerable sig
nificance was a quotation Of 26S for
gold Il BeunoS Ayres. which is from IA
to 10 per cent higher than the premium
and makes Argentine wheat cheaper
to the English importer, just as the re-
cent advance in silver made Indian
wheat dearer AS an offset against
that matter was another dispatch from
Rosario, which said holders Of wheat
firm and stock light. New York dis
patches reported thirty boat iaods of
wheat taken. for export there yesterday
and commission houses here had plenty
of inquiries from country millers for
No. . red. The cash demand from
country miilers was good, but was not
ON a sufficiently extensive scale TO Off
set the effect Of the clearing out of all
the short wheat. Some manipulation
of May in st. Louis deal, which ran
the price there up to 63 cents about u
o'clock, caused a nervous feeling mere
and an advance of 1 cent per bushel
over the lowest price July and May
wheat sold for at the opening. The ST.
Louis scare was quickly got over and
the reviving builish feeling here was
Immediately shattered with the break
ing of what is being styled the St
Louis corner. The opening of May was
at from 60A cents TO 60 cents and for
July at from GIL cents to 81 cents on
the day before. A few sales of May
We're made at as low as 597s cents be-
fore the second break began, and at
about the bottonm of which the market
closed. May declined to 80 1-3 cents
and July to CO.'S cents. The lowest
trading was at 1915 cents for May and
607s cents for July. Primary market re-
ceiptS amounted to 80, 900 bushels
against 1Sl 900 on the corresponding
day of last week, and %, 0G0 bushels Il