The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-06-18


Chicago, June 17.-After a 2ss cents
break on big foreign shipments, weak
cables and better crop reports. wheat
was rescued today by shorts and closed
but Il cent lower than Saturday. July
corn closed Is cent higher. September
oats u cent higher and provisions with
out change.
More long wheat was for sale at the
opening and no buyers could be found
for it at that time within from 2. 10 l
per cent per bushel below the price
IL closed at on Saturday. The first
transactions in July were from 13$.
cents TO 741. cents against i41s cents al
the close of the session on Saturday.
On Saturday June sold as high as Sl24
cents so that IN exactly ten days de-
cline OF cents per bushel took place.
The additional weakness was due 10
an early intimation IN a Liverpool ca
blegram received before the opening
that the exporting countries or the
world had more than made up for the
falling of il the shipments Trim this
side. 1t quoted ! pence lower in the
price and added the significant remark
shipments large" Later in the day
when over nine million bushels was
found TO have been put afioat last week.
although this country and Canada had
only contributed ]. 100000 bushels OF the
quantity, the weakness with which bus
mess for the day began was intensified
but the covering purchases OF wheat
previously sold short wereheavy enough
for about half an hour 10 cause a reac-
ton from around 744 cents and !4H
cents to i4es cents, but the immense
amount OF the weeks shipments told
how thew Were regarded by the crowd
when about 1890 O'Clock a drop TO 1874
cents had taken place The market
became weaker and weaker as the ses-
sion progressed up TO about II o'clock
when the decline was arrested. The
reaction which followed the further de-
cline to 12A cents was not due TO any
noticeable buying outside of what was
being taken to cover shorts. Crop news
was not as plentiful as for some days
back, but such IS came TO hand showed
no general improvement From Mis-
souri, the tenor of the majority Of the
dispatches was that the damage N that
state had been Overesimated, placing
the outlook at no more than half a crop
and that it would turn out about sew
enty-five per cent From Ohio, on the
other hand, the extent Of the damage
was described in almost sensational
terms and such as TO lead to a proba bic
destruction of one half of the wheat and
oats crops. Indiana and Illinois ap-
peared TO have ceased mentioning their
damage, but the trade for the most part
accepts the fact that Of the most ex-
tenSive harm to wheat has happened
in those two states and in Kansas. The
visible supply decreased 2,202, 900 BUSH
els and the total Is niw down to 47,710,-
600 bushels compared with 57105. 900 In
1894 and 66,375, 600 bushels at the cores
ponding time in 1898. The northwestern
receipts were 235 cars compared with 272
a year ago. Atlantic port ciearances
since last reported on Saturday were
equal in wheat and flour to only 1853. 900
bushels. One Of the item sof the days
news which helped the bears was a ca
blegram from Odessa saying that the
Russian grain crops promised TO repeat
the heavy yields If 1893 r being espec-
tally good. The price began to improve
from II O'Clock and trading at "A cents
for July was in progress within a few
minutes OF the close, the market ending
at 1855 cents
The corn market was under a spell
OF weakness at the opening which last
ed until the agony was passed in wheat
The feeling in corn did not at any time
approach the heaviness of that in
wheat and after the receipts estimated
for tomorrow became known as only
$50 cars, instead Of weakness there en-
sued feeling of confidence. The re-
ceipts were ia cars and II 900 bushels
by canal The visible supply decreas-
ed $4,000 bushels against AL. 900 bu-
shells decrease year ago. The total
in sight now is 10.7S5 900 bushels COM
pared with 1908. 900 bushels at the CORE
spending time last year. Argentine
shipped 5S7 900 bushels 10 Europe last
week, but the amount on ocean pass
age now is $4,000 bushels less than IL
was last week. July corn opened at
ass cents compared with 48S cents at
the close on Saturday. The tendency
after the first few minutes was toward
Improvement and after following wheat
for an hour or so IL struck out for it's
elf and landed at 493s cents
y very active market was reported
for oats, The early session was remark
able for the weakness created by free
selling by New York and also generous
offerings of long stuff. Later on the
buying became general and from that
time on a firm market was noted
Prices rallied and closed steady for
July and higher for September. Sep
tember ranged from 27Ss cents TO 2SX
cents, closing a. 2S4 cents.
The provision market was affected
for an hour after the opening by the
various changes in wheat, but later on
in the day II took corn for its leader
and recovered small decline made at
the start, leaving off firm without any
change from Saturdays closing rates.
Hog receipts were q. 900 head.
Chicago Market
The leading futures ranged az follows: