The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-07-02

1
There Is Comfort for the Bulls in Much
| of the Days News and Many of the
observation-disclosures Over of July
Deals Causes the Break-Good Corn
Weather is too Much for Light Receipts
Oats Get Weak Ouick-Provisions
Tumble with Corn.
Chicago, July 1.-The grain and pro-
vision markets all opened strong to-
\ day and were quite as unanimously
| weak at the close. Compared with
Saturdays closing prices, wheat lost
Is cents; corn ~ cents; oats about 9.
cent and provisions, closed a declines
| The decline in wheat was due entirely
to local speculative conditions, the
| changing over Of July deals causing
the break and the other markets follow
ed wheat.
Wheat opened rather under the price
| it closed at Saturday, due principally
| to the heavy deliveries on July con-
tracts this morning. The general SEN
| timent appeared TO be rather for buy
Ing on the soft spots, notwithstanding
the 100000 bushels delivered before
the opening. One OF the heaviest ele-
vator concers, supposed to be Armour,
| appeared to, have still a good deal of
July to buy in, and manipulated the
market vigorously in the direction of
buying it cheap. Thoman's report of
the condition Of wheat now, as COM
pared with what it was on June /,
showing deteriorations of Is per cent
in Ohio, 16 per cent in Michigan, Is per
cent in Indiana, II per cent in Illinois
and points in California, was of some
help in sustaining the bullish feeling.
The reports of large decrease in the
quantity on ocean passage, and tele-
grams and letters from every quarter
IN Illinois and Indiana, confirming, and
In some cases adding to, previous re-
ports of damage, We're also helpful TO
the bu lis. The elevator interests work
ed the market all day and their policy
appeared to keep it weak The regular
market was quoted on the price of high
er prices for the most part, but on
every decline, engineered by the car
rlers or the elevator stocks, whatever
there was bearish In the news became
uppermost in the minds of the crowd
as long as the price kept declining,
Whlcn was the major portion of the
time. The opening price of September
was from 725s@A cents and before it
SOLD any lower, 1t touched 731s cents
After that it had numerous fluctuations
between the range of 72H6A cents
bid, and later in the session 1t got
down for moment as low as 71B cents
and recovered from that to 72L cents.
receipts here Were 10 cars and Mime
apolis and Duluth received 264 cars.
against 2S3 cars year ago. A very
heavy decrease in the amount on ocean
passage had been looked for. because
M, T
ed on Saturday afternoon, predicting
that such would be the case; the actual
decrease proving to be 1,609. 900 bushels
was interpreted as bearish. Another
point in the days statistical Informal
ton on the weeks movement, which
told in favor of the bears, was an in
crease in the English visible supply of
100000 bushels. A decrease of l ,664.-
900 bushels in the visible supply on this
side, although rather heavier than look
ed for, did not have any stimulative
erect upon the price. The amount in
the visible supply now is 1861 900 bu-
shells against 54.657 900 bushels a year
ago and 62,3l6.0 900 bushels at the cor
responding date in 1898. The latest
condition Of the market was one of
considerable weakness, with the crowd
anxious to sell in anticipation of still
lower prices. September got as low as
711a cents about ten minutes from the
end OF the session and closed at 1ss9h
cents.
The continued fine prospects for the
growing crop of corn outweighed the
very moderate receipts and caused
great weakness in the market after the
first hour of the session. September
opened at 4S1s cents and held steadily
for while from that down to 4S3s
cents. 1t touched 4SkG4Ss cents,
which was at the highest point OF the
day, and at the close of the session il
was dragging around AZ cents. The
deliveries on July contracts We're lib
eral In the morning, some putting the
quantity at as high as 1000, 900 bushels.
The inspections into store numbered
223 cars, GO cars of which, however.
were transferred from irregular to city
houses. Argentine shipments were l.
424. 600 bushels last week. The visable
supply decreased 439, 600 bushels, which
was smaller falling off than had been
looked for. The total is now $3.50 900
bushels against 6.441, 900 a year ago.
Exports from the Atlantic seaboard
amounted to 167, 900 bushels and New
York reported seven boat loads taken
today. Sales for eastern shipment ag-
gregatc, over 100000 bushels reported
here.
Oats scored big hit today on ac-
count of the activity and heavy trade
Cudahy figured very prominently with
his almost unlimited offerings of long
stuff and caused a break of from l cent
to 1SG1k cents in the price. Septem-
Der opened at from 259s TO 25A cents.
sold down TO 241s cents and closed at
4%624s4 cents. At the opening sales
strength was noticeable in sympathy
with a similar situation in wheat, but
lasted but a short time.
Provisions opened strong, but with !
out much activity. The strength was
displaced by weakness when corn be-
gan to tumble and it was very heavy
as the session was coming to a close |
Except in the matter of lard, of which
. 500 tierces went around this morning
the deliveries on July contracts were
almost nil. Cudahy sold early and was
again a seller near the close. The re-
CENTS of hogs were $4,000 and the price |
was Quoted from 5 60 10 cents higher |
After an early advance of 1919 cents in |
pork the market at the close showed a |
decline of 32Ia cents for the day. lard |
closing 12ls cents lower and ribs ~ |
cents lower.
Chicago Market.
The leading futures ranged as follows: