The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-06-11

| Meantime Heavy Dealers Make Hay and
Sellers Turn About as Soon as They Find
it Out and sharp Advance Follows,
Aided by the Cuban Recognition RumOr
| Corn is Pretty Independent and Early
| Losses are Resained-Oats Sustained
| By Rain Damage Reports-Provisions
Active--GoEernment Crop Report.
Chicago, June 1o.-The wheat market
was full of selling orders at the open
ing and buyers were scarce. July open
ed Is cent lower az 57Z q5S14. Large
lines were sold out on stop loss orders
and the price quickly broke 10 SIS cents.
But at this point there was halt. Sell
ers were well exhausted, the stop loss
orders were out Of the way and it was
discovered that several heavy dealers
| had been picking up wheat on the break.
\ This persistent buying was regarded
| with alarm by those who had been do
! ing the reckless selling and there was a
| general movement made to cover, which
| sent prices up sharply. The covering
was accelerated by a runor that Presi-
dent Cleveland had recognized Cuba
July opened irregular, hQ1a cent lower,
| STA 95SH, sold down quickly to 574
cents and reacted to 5s5s cents. The
market again became very weak before
the close, owing to the weakness shown
by the late quotations from abroad and
the lowest point of the day, 81 cents,
was touched. July closed easy at 577s
| cents bid.
Corn showed unexpected strength in
the face of the decline in wheat. The
opening was weak, due TO liberal local
| receipts and the weakness Of wheat, but
good support soon developed and prices
regained all the early loss. July opened
about 4 cent lower, at 275sQ27A cents,
| advanced TO 2S1s cents and closed steady
at 277s cents.
Oats We're quiet in the speculative
| market though fair cash business was
done. Reports of damage by rain ex-
ercfsed considerable influence. July
opened unchanged at 17z cents, touch
ed IFS cents and closed steady at the
opening price.
Provisions were more active than for
some time past. The opening was weak
in sympathy with the large hog receipts
and heavy buying Of pork in the pack
ers sent prices up rapidly, July advanc-
| ing 321A cents from the opening price. a
weaker feeling prevailed during the last
hour and most of the advance was lost.
July pork closed 5 cents higher at sos,
July lard 3 cents lower at $4.1215 and
July ribs cents lower at 1922.
Estimated receipts for Thursday:
Wheat IS cars; corn 500 cars; oats 155
cars; hogs IL. 0G3 head.
GOVERNMENT CROP REPORT.
Washington, June 10.-Percentages of
areas harvested last year have been OBJ
tanned from a greatly enlarged list of
correspondents. Inquiries being address
ed IN particular to 1000 of the principal
millers throughout the country, TO
whose careful comparison of present
acre2ges with that Of previous years
many corrections of the preliminary es-
innate of December last, are due. There
has been some dirninution of winter
area, owing to the total failure of the
crop in some sections, the ground being
plowed up for spring wheat or oats.
These returns reduced to acrea ges, give
the principal winter wheat states, Cali
fOrnia 3,01l 900; Kansas 1854, 600; Ohio
2 422 900; Indiana 1924 900; Illinois ], $780,
600; Missouri ], lS,000; Pennsylvania l.
239, 900; Michigan 1,209, 900. Total winter
area 22,974,o00.
Spring wheat and oaJts-Minnesota D.
200, 900; North Dakota 2,530,eG0; South
Dakota 2.463, 900; Nebraska 1,224, 900. To-
tai spring area II, S25, 900.
From Minnesota the department
agent reports a larger acreage than in
1885, partly owing TO the blowing up of
fields of winter wheat and rye, but prin-
cipally TO tsne fact that farmers increas-
ed the spring wheat area at the ex-
pense of other crops. considering it
better investment than oats, rye or
corn.
Since the May report the condition of |
winter wheat has fallen As per cent, |
that Of June being 77.9 per cent, |
against S2.7 on May I.
The percentage OF the principal states |
are: Pennsylvania 20; Kentucky s.: |
Ohio so; Michigan 70; Indiana 20; Hi |
nois 81: Missouri so; Kansas IS: Call 1
fornia 9S.
The conditions OF spring wheat indi- |
Gates prosperous yield that closely ap- |
proximGtes a full or normal crop, the |
average Of the country being 99.9 per |
cent. The average for the year 1895 was
s1S.
The averages for the principal spring
wheat states are as follows: Minre-
sofa 90; Wisconsin 116: Iowa los: Ne /
Dakota 103; Washington Sc; Oregon 95.
The percentage Of the combined winter
and spring wheat acreage is 10l and the
condition of all wheat Is SIS
The preliminary report places the
acreage OF oats at $50 per cant OF last
years area and the general condition at
SS.S. against S33. same date n 1895.
The acreage of rye is $50 OF last
years; condition S5.5. against S5.7 last
June
The acreage OF barley Is 500 par cent
Of the area OF 1895. and It's con iltlon
STANDS at SIS per cent.
Cotton-Acreag e 1852: condition s7.7
From Europe prevailing lack OF rain
is reported. with injury TO crops gener-
ally in Spain. Italy and Great Britain.
Hay and pasture injury in France.
but wheat especially abundant Pros
poets average in Austria-Hungarv.
Roumsuia and Bulgaria; exceptionally
good in Germany and Russia.
CHICAGO MARKETS
The leading futures rar ce5 sS Forioz~- |