The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-06-09

Large Worlds Shipments, Bad Crop
Advices, and an Insignificant Decrease
in the Worlds Visible supply are Some
of the More Important Influences, the
Last Named Being the Last to Get in its
Work-Other Markets Stand Oc.l
Chicago, June s.-The widest wheat
market seen for a year was that OF TO-
day. Jumps of nearly a cent at a time
were frequent July wheat had an ad-
vance of Z cents last week and II look
ed at times today as if that advance
would be repeated during the session
Wheat was very nervous and trading
heavy. Fluctuations were over WIDE
range al one time dropping 23s cents
within fifteen minutes with more than
one sudden collapse Of as many Incl
peut boous. The most Of the activity
was previous 10 u o'clock After that
there was comparative quietnesS but
at no time was il dull July opened
higher but there were selling orders az
the advance and when the large world s
shipments were reported-nearly $780,
0O0-there was a sharp break. July sell
ing nearly u cent below Saturday 3
v1ose. But the bad crop advices, the
strength in foreign markets and the
bullish attitude of some OF the big oper-
ators soon turned the sentiment and
there was a season Of wild excitement
with active covering by shorts and
good speculative buying, during which
July sold up TO 6315 cents, or over IL
cents above the close Saturday. Tho
mans crop report, which showed a fall
ing off OF per cent in the condition OF
winterwheat, was a strong factor m
the bulge, but on the advance there
was heavy realizing. Cudahy, who was
very prominent all day, and other big
dealers, began 10 sell their early pur-
chases, and this, with general scram-
BILE TO secure profits, soon started prices
down the toboggan. When II was n
naly reported that the decrease was
only 10, 600 bushels, where 10000 TO
1000 900 bushelSt had been expected and
where there was 2.450. 600 bushels year
ago, there was a quick drop Of nearly
21s cents from the top early. July
opened Ia cents higher, at 621sq62A
cents, sold momentarily at 63zs cents,
broke to 6112G61% cents, sold, rapidly 10
6312 cents, and declined still more rap
idly to CO.'S cents. The market was fe-
verish and weak during the last hour
on excessive realizing and liquidation
July kept on declining and finally sold
to COZ cents. Il advanced again to 61A
cents but another decline CARRIED II TO
Cox cents, whore IT closed.
Corn was quiet and but little affected
by the wildness of wheat. The favor
able weather and large LOGAN receipts
created an easy feeling, which prevail
ed to the close. July opened unchang-
ed at 2S24 cents. touched ISIS cents( and
closed easy at 2Sl4 cents.
Oats We're only fairly active and pric-
es rather unsettled The favorable
weather and large local receipts created
an easy feeling which prevailed to the
close. July opened unchanged at 2S&
cents, sold down to 173s cents and clos
ed Is cent lover, at 1875 cents.
Provisions were neglected. Opening
prices. in spite of the steady livestock
market, were a shade easier, and the
closing weakness of wheat caused a
steady and cents lower al 81 III, July
lard cents lower at Ply, and July
ribs cents lower at 80.
Estimated receipts for tomorrow:
Wheat 30 cars. corn 900 cars, oats 500
cars, hogs 10000 head.
WHEAT IN NEW YORK.
New York, June S-The total trans
actions in wheat futures today reached
the enormous total of 1905. 600 bushels,
an amount of trading that has not been
attained before in several years. Most
OF this business was done during the
morning hours, when the market was
very excited, with frequent and violent
changes in values. The first swing was
downward, July dropping 10 672s cents
under pressure of foreign selling and
offerings for local short accounts, but
here the bulls stepped in and caused a
stampede Of theshorts, which lifted Ju-
~ TO S9ls cents in ten minuteSe, after
which ii went to pieces again at midday
because the crowd overloaded and the
visible supply failed TO show the reduc-
ton anticipated. For the balance of
the session the market was less active,
with gradual unloading of earlier pur-
chases, which resulted in further weak
ness, closing prices being at the lowest
point OF the day and AGE cent below
last night
VISIBLE GRAIN SUPPLY.
New oYrk. June S.-The visible sup
ply grain sthatement, as compiled by
1he New York Produce exchange. Sat
urday. June 6, is as follows: Wheat
81, I4i,0O bushels, decrease 1913. 900 BUSH
els; corn $4,000. increase So. 600; oats
S,5l0,O0 bushels, increase 1900; rye
1,o4f,OVO bushels, increase 1I,3,oOO; bar
ley $4,000, SecreaSe 81, 600.