The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-01-23
AIDED BY SHORTS
OTHERWISE GRAINS GO TUMBLING
HEELS OVER HEAD.
Avalanche Of Wheat Still Comes Thunder
ing in and May is Weighted Down to
Fifty-Four and Three-Fourths Cents
shorts Take Advantage of the situation
IN Cover, Which Gives Wheat What
Help it Gets-Receipts Larger and For
eign Markets Lower-Shorts Busy in
Corn and Oats, Also-Provisions Higher.

Chicago. Jan. 22.-Longs continued to
dump their wheat on the market today
and under the heavy load the May OPP
lions touched 54S4 cents. The low price
tempted shorts however and their COW
cring left May at the close but Is cents
lower than yesterday. Corn closed Il
cent lower for May, oats unchanged
and provisions at slight advances.
That the liquidation of long wheat
which was the feature of yesterdays
trade had not ended was apparent as
soon as the session opened this morning.
Commission houses had more wheat for
sale and although a little trading was
done Immediately at the opening at
from 557s cents down to 555s cents for
May, there was such an avalanche of
offerings that the value was instantly
crushed to 553s cents, being still lower
level than the lowest of yesterdays
quotations. Some buying caused a re-
covery to 55% cents but selling on a
liberal scale again set in and another
tumble brought the price down with
dump lower than before. ssh cents be-
Ing the next resting place and even
that was only temporary. The Liver
pool market was weak and lower. At
ter another and more severe break
which took the price down to 54$4 cents
and a succeeding reaction to 55A cents,
business which up TO that point had
had been on a. havy scale, fell TO a mere
nothing during the remainder OF the
session. Primary market receipts al
together We're 205. 600 bushels against
only 10000 bushels a week ago and
292. 900 bushels on the corresponding
week a year ago Export clearances
to
and -four to 277, 900 bushels. The clos
ing cables reported the following de-
clines in foreign markets: Liverpool, l L
pence in spot wheat and 1 pence in fu-
lures; Paris Is centimeS decline for
near by terms and . centimes for dis
tant deliveries Of wheat; Berlin, q
mark and Antwerp, 1213 centimes. The
market here closed with May at 551i
cents.
Corn was weak al the opening under
the infiuance of the slump in wheat but
IT ruled comparatively strong during
the remainder of the session and did not
participate in the later feeling which
caused the successive further decline
I'm wheat The demand which prevent
ed corn from yielding to further eX
tent after the first sharp break of u
cent per bushel, came entirely from
shorts. The demand however. was
very general and while the selling out
of long stuff was on a liberel scale,
it was scarcely up to the demand from
shorts after the extreme pressure at
the opening was removed. May after
opening unchanged at 4512 cents touch
ed 45 cents. sold TO ASS cents and closed
at ASS cents.
Oats opened very weak at % cents
and under free selling dropped to 2S3s
cents. There was liberal covering by
shorts at the decline, causing reaction
TO 2914 cents. Trading grew lighter
toward the close and values after sell
ing off a shade fluctuated but little.
May ended at 2e@29B cents. The cash
market for oats was somewhat strong
er The demand for shipping was very
good and local orders also came in for
q good share.
The receipts of hogs today were only
1900. Some confidence was impaired
by the falling off in the receipts and the
price of products started with an adj
vance of 215 cents in pork and s cents
in lard and ribs. At the close pork
stood at the opening price after an in
termediate advance of cents more.
Lard also closed nominally at the open
ing price bat there were sellers at the
close at the advance. Ribs at the end
had virtually dropped all of their early
gain. there being sellers of May at S5.!o
as against yesterdays closing quota
ton of So 67n