The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-18
SUPPLY HOLDS HIGH
WHEAT DECLINES BECAUSE THE
VISIBLE DOES NOT.

Better Cables and Cold Weather Give En-
coursgement in the Early Session and
Buying Orders-Expected Decrease in
the Visible Fails to Materislize and New
York Fails to Get Rid Of stocks at the
Expected Rate-CIose az Losses-CorO
aud Oats Observation-Disclosures Lower.
Chicago, FEB, 17.-The disappoint-
ingly small decrease in the worlds Wis
ible supply caused a slump in wheat
today, causing it to close at loss OF
MGA cent from Saturdays figures
after an early rise Of q cent. Corn
and oats were but slightly affected and
closed unchanged and provisions made
slight recessions.
There was a very fair speculative
trade in wheat, the market changing
with considerable rapidity within Ia
ed was quite nervous andp rices for a
while irregular, but the tone was on
the whole easy and the close showed %
cent decline. The first trend OF the
market was upward, the feeling being
strengthened by the better cables and
the cold weather, which was thought
to be injurious to the growing plant.
There were apparently good many
buying orders on the market and in
filling them the price was advanced
from 65B cents to 66A cents, which
was nearly q cent better than the close
Saturday. But the reports from the
visible supply points soon began to
show that there would be no such de-
crease as had been expected. New
York reported a loss of a little over
400, 900 bushels, where 100000 had been
exported, and at one time It looked
as though there might possibly be an
increase. This started general selling
by the early buyers in the way Of liqui-
dation and also selling for the short
account, and it did not take long for
the price to go off over l cent. But
later when it was known that there
would be a slight decrease instead of
an increase, as seemed probable at one
time, the market recovered slightly.
May wheat opened irregular and about
"a cent higher, at COS 966A cents, held
for some time around 657s @66 cents.
then broke to 6512QH cents split, and
up to 651a cents. The market ruled
dull and easy during the last hour.
May sold off to 651s cents, reacted to
653s cents and closed at that price.
Corn was very slightly affected by
the wheat market. The demand for
eastern shipment was better than it
has been for some time and this with
the anticipated reductions in farm
ers' deliveries due to poor roads, was
the main reason for the comparative
steadiness of the prices. May corn, at
the opening, sold unchanged at 301sG
BOZ cents, declined reluctantly to 90
cents and closed with sellers at 301s
cents.
oats were quiet and only limited
business was done, prices following
wheat fluctuations narrowly. May
opened Is cent higher at 21A cents, sold
down to 21QA cents and closed at 211s
cents bid.
Provisions were rather heavy and
dull during a considerable portion of
the day. The unexpected large run OF
hogs chopped a good piece off prices
early, but good support later caused
a rally and prices regained nearly all
the loss. AT the close NIoy pork was
5 cents lower and May lard and ribs
unchanged.
Estimates for Tuesday-Wheat 200
cars; corn 500 cars; oats S15 cars; hogs
$4,000 head.