The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-01
DAY FOR REALIZING
CONSEQUENTLY WHEAT IS OFF 4
QUARTER OF & CENT.

Corn and Oats Slightly Tower in sympathy,
But Provisions Move Up Trife-Wheat
is Strong, Though Liable to EIuctuation,
Early, an Advance Recorded Being Due
to the Liverpool Estimate of a Def
cheney in Foreign Importing Countries
suppIies-Market Later Depressed on
MISUNDERSTANDING Wheat Lowest.
Chicago, Jan. 31.-This was q day Of
realizing on long wheat. Not only
that but short sellers. who for few
days had watched like a cat at mouse
hole, for a move on the part Of the longs
in the above direction, flooded the mar
ket with their offerings. The price
closed at a decline for the day or =
cent per bushel. Corn and oats are eacn
little lower in sympathy, and proVis-
ions moved up a little.
Wheat was affected at the opening
very much as it was at the same time
on the day before, by heavy receipts al
Minneapolis and Duluth and higher
quotations from Liverpool, and the
price for May started at from BOA cents
to 655s cents, as compared with 6o%4 ~
65B cents at the close yesterday. Al
ter a further decline 10 6J2s cents the
price began to recover again and rose
in a very short time TO 664 cents, or
about as high as it got on the previous
days bulge The advance was chiefly
due to the bullishness Of the wheat sit-
uation, as set forth by the Liverpool
Corn Trade News, which estimates the
wants of the importing countries for
the whole season at 40S.000,0O0 bushels
against available supplies Of 336, 600
bushels and says that the deficiency OF
| ~, 000, 600, 900 bushels can only be made
good by reducing the amount afioat to
its lowest possible limit and using every
available buShel in Russia and America.
The trading was active for about an
| hour and a half during the fluctuations
recorded above and while the market
made another range over the same
ground, but after that it quoted down
for an hour for want Of anything furth-
| er Of an exciting character, The price
! meantime had worked down around CO.'S
cents and did not for some time get
| away from between that and 652i cents.
| Later the market began 10 feel the
weight Of the sales, which had been
made at around &c cents, and by i
o'clock, it had begun to wear very de-
! jected appearance. In half an hour
! later 1t had declined to 65 cents sellers
or IL cents decline from the highest
! point il touched earlier. The stocks al
/ Minneapolis and Duluth are estimated
| to have increased 100000 bushels this
week. and New York stock to have de-
creased 75O, 900 bushels. The prevailing
| opinion with regard to the visible fol
| =rrLf chr q
| small increase, or at least a very light
/ decrease, and probably the heavy op-
/ orators were influenced by that in sell.
! ing as freely as they did. business was
very much smaller than on the previous
| days of the week and, as on the day be
! fore, it was largely on the local ac'
count The closing figures We're 65G651t
cents, practically the lowest Of the day
The corn market followed the course
/ of the fiuctua atoms in wheat, being
strong early and weak later in the day
J The weather is making country road:
very bad and lighter receipts in the
near future are expected.
/ Business in oats was quiet and NJ
new features We're developed. Outside
! Of a small amount of liquidation, trad
, ing was almost at a standstill.
! Provisions were irregular, opening
! firm and after a weak spell becoming
/ strong, with closing prices moderately
/ higher for the day. The general i'm
preston in the pit was that soon after
/ the opening Cudahy's brokers were thu
( chief bidders for the product, but aftel
they had 'jollied" it up, they becam,
heavy sellers.
Estimated receipts for tomorrow
Wheat SIS cars; corn 435 cars; oats 20
cars; hogs 1900.