The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-07-02
GRAINS GO EASIER
WHEAT, CORN AND OATS Run
NEARLY THE SANE COURSE

Early Strength, With General Activity,
Followed by Dizziness and an Easy State
of Anairs-september Wheat Closes at
Fifty-six and One Eighth, Fiye-Eighths
Cent Below Tuesdsy-July Corn ia De-
mand- Corn Closes at a Decline of an
Eighth to Ouarter-oa:s Lose Quar-
ter Cent-SIump in Provisions.
Chicago, July 1--Extreme activity in
wheat at the start today was followed
by dullnesS. September closed easy at
5s1s cents. or g cent below yesterday.
Corn, oats and provisions all closed
easier.
Wheat had range for the day Of III
cents. The feeling developed was lit
tie mixed, prices doing better early in
the day and easing off later. the final
figures showing 5s&1 cent decline. The
strength early was due IN measure to
the stronger tone Of cables, Liverpool
showing an advance Of 153% pence, and
then northwestern markets ruled strong
and higher, due. it was claimed, to
numerous complaints of damage from
rust and dry weather in that section.
Another factor which stimulated prices
was the very small deliveries on July
contracts, only about 300, 900 bushels 60
ing around, being sent out by elevator
interests. Liverpool stocks did not show
as large an increase IS anticipated, only
472,ooo bushels, making the supply there
2. 1884. 900 bushels, against $685.. 900 bush
els a year ago this time, and was posi-
bly, something Of an influence. Cont
mental markets were also up, early Ber-
lin advices quoting an advance of 116&
mark Northwestern receipts. while
larger than the same day last week and
year ago, showed some falling off
compared with the average Of late.
Outside markets were lower. The out
inspection here was alitthe larger. on
the other hand, the weather was most
favorable and indications point 10 no
particular change in the same.
There was a pretty fair trade in corn
within y cent range. The feeling de-
veloped, while a lot unsettled, was. on
the whole, easy and the close showed
kGk cent decline. The features was
the demand for July, which was in
good request, deliveries being small and
the price worked up TO within 7sG1 cent
Of September Wheat early was higher
and was something OF an influence.
Shorts covered freely at the start, but.
as the session advanced the market
eased off, due to increased offerings.
. Oats were strong early but weaker
later and closed at the bottom with a
decline of 3s6h cent from the top and
a net loss for the day of Il cent The
trading was moderate, but not as large
as for several days The feature was
the buying of July and September ele-
vator people, and New York orders.
There was also good deal Of chang
ing from July TO September at 2s@1s
cent and from July to May at 3G31s
cents difference. Crop reports were gen.
orally favorable.
Provisions. although opening rather
heavy and continuing so. did not be-
come radically weak until the close,
when it seemed that all at once the
weakness Of wheat appeared TO be
recognized and the slump of the day
then occurred. September pork, which
had been hanging between $7O71507I5
an day, suddenly sold off to 81 and
closed at that. September lard, after a
similar procedure. wound up at $3.9712,
compared with s4.05. Ribs weakened
with the others near the end and left off
21a cents lower for July and cents low
er for September than on the day be-
fore.
Estimates for tomorrow: Wheat IL
cars; corn 500 cars; oats 225 cars; hogs
q, 900 head.