The Wichita daily eagle., 1895-05-11
SOLD TO REALIZE
JULY WHEAT CLOSES SEVEN
EIGHTIES OF A CENT LOWER.
Opens Easier on Predictions of Cooler
weather--Forenoon Trading Nervous.
Quickly Fluctuating and Narrow in
RanSe--Foreign Markets Higher but
Not Enough to Match Thursdays Ad-
vances--COnficting Damage Reports
From st. Louis--COrn and Oats Weak
and dLOwer--Provisions Decline.


Chicago. May 10-Wheat lost 7s cent
| today on liberal realization sales. The
] expectation of the government report
prevented heavy trading. July corn
closed u cent lowe; July oates Il cent
| lower and provisions finished at slight
declines.
Wheat opened easier, chiefly because
Of the predicted drop in temperature
and about forty minutes from the open
ing the price Of July was down TO 81
cents. compared with 64A cents at the
end Of yesterdays session. Extreme
nervousness characterized the trading
all the forenoon. There were a few
buying orders at the price last quoted,
but sellers all at once became so con-
servative that none could be bought
until buyers advanced their bids TO 64A
cents. 1t had more downward reaction
after that during which It was not so
difficult to buy at 81 cents; but the
feature of the forenoon was its quick
fluctuations over q narrow range. The
opening trades were ar from 64E. cents
down 10 643s cents, with sellers more
eager than the buyers at those rates.
The foreign markets sent higher quota
tions, but not sufficiently so to equal
yesterdays advance here, and that was
considered a weak point. The Minnea
polls and Duluth receipts were lao cars.
The primary market receipts were 1872
900 bushels. The export clearanceS
from Atlantic ports comprised $4,000
bushels of wheat and -four together.
There were reports from St. Louis con-
firming all they had previously advised
of damage by drouth. But there We're
n 10 rC ~rnt1 re nj rot
ing that the damages reported was be-
ing considerably exaggerated. The CAV
ernment report to be issued this after
noon exercised restraining influence
upon the traders. There seemed to be
advance tips about il, but the general
impression was that it would not differ
materially from Thoman's report as
published in the Prairie Farmer ten
day ago, which reduced the condition 2.6
from that given by ii on the previous
month. A somewhat similar reduction
given by the government would make
its report show a condition of about
18.5- The foreign markets all closed
higher, but the realizing continued until
the close. The prices were about their
lowest near the end and after selling
at 63SQ1s cents, July closed at 637s
cents.
Corn ruled rather weak and a mod
crate amount of business was done.
The offerings from country stations wer
heavier again and receiving houses
We're in consequence of that bearish
character. July opened at the highest
price of the day, from 5l@507s cents, as
against 511s cents at the close yester-
day After a decline to 5Oss G5OIs cents
and reaction to sos cents, it dropped
again to SOLE cents and closed at sos
cents. Receipts here were pol cars and
estimates for next day are go. Primary
market receipts We're $4,000 bushels
against 259,009 bushels a year ago.
Only comparatively small business
was transacted in oats. The feeling
was weak and prices lower. The ex-
cellen prospects for the coming crop
were very influential in causing coun-
try people to forward selling orders.
The arrival of new oats on this market
is reported to be two weeks earlier
than usual, and new supply is expect
ed during the fore part of July. A
heavy crop is also predicted throughout
the country. June started at 2S7s 0629
cents, sold at % cents down to 2S1a
cents and closed at 2S1aGS cents. July
ranged from 2S5s cents to 2SI cents and
rested at 2SA as cents.
Trade in provisions was exceedingly
light. Fluctua tions were narrow and
there was general indisposition 10
trade. Hog receipts We're about as ex-
pected. Compared with Yesterdays
closing rates. pork is about 10 cents
lower, IaTu Wl1nout change and ribs
pI112 cents lower. The easier feeling
was mainly the result of the weakness
in corn.
Estimated receipts for tomorrow:
Wheat 20 cars; corn, go cars; oats, zoe
cars: hogs 10000 head
Max O'Rell says Rio Janeiro has the
finest harhOr in the Western hemiS-
phere. He might have added that. DR..
Prices Baking Powder is without a
rival on the whole round globe.