The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-07-19
MARKETS ARE WEAK
CORN Has MORE TO DO WITH THE
CASE THAN COMMON.
Heavy Rains In Kansas and Missouri and
More Coming, and the Bulls In Corn
Nun Over Oae Another IN Their Scram-
bic to CnleAd Upon IN Unwilling Crowd
-Holders Of Wheat Initiate Their Ex-
ample and . Decline of Thfee-Eighths
Cent IL the Resait-Corn and Oats Low
er-Pork Alone Gains

Chicago. Ill, July 1s.-The board Of
trade markets were weak today. The
weakness in corn was an incentive TO
declined &c, corn sc. oats sc. lard 21=c
and ribs SC. Pork gained 21sc
Wheat for a minute or two at the
opening was firm at about yesterdays
closing prices, but people who had long
corn were all IN that market. pressing
and the holders Of wheat began initat-
ing their example. Floods in Kansas
appeared to be considered all that was
needed to clinch the previously fiat
tefng prospects for a great yield The
prce had yesterday run ahad Of the
foreign buying limits for export and al
though It was claimed that bids from
abroad had been reaSed this morning,
the people who usually receive them re-
fused to confirm such statements Sep
TENDER opened unchanged at from 57S9
671s 457&o and worked down 10 5S,sc
in the first half hour OF the session.
The weeks shipments Of wheat and
-four from both coasts were equal 10
900 bushels the week before and only
1850. 900 bushels the corresponding week
OF the year before. The Minneapolis
and Duluth receipts were again COM
parattvely light, 2i0 cars. against Alp
cars on the previous Saturday and 395
cars on the corresponding day OF the
year before. For the hrst time since
last years crop got fairly under move
mert, have the receipts for a day been
smaller than for the Light crop OF the
preceding season. Chicago received 252
cars. 24S Of which were new and 1872 OF
them graded No. 2. The quantity In
spected out Of store was 121. s11 bushels.
Export clearances from Atlantic ports
reported today are equal in wheat and
-four to $1,000 bushels. Some export
business was done when the price OF
September dropped to $3.50 and under,
as 1t did on three separate occasions.
The last decline was near the close OF
the market and $50 was asked at the
close.
Heavy rains IN Kansas and Missouri
yesterday and prospective heavy show
ers in the rmainder Of the corn belt In
the next thirty-six hours caused the
bulls n corn to tumble over each other
in their haste TO unload. September
opened Nc lower. at 271sc. and declined
all day with only fractional rally on
small purchases by Shorts, closing at
&c. the lowest price OF the day.
The early market for oats was firm
and prices were higher than they closed
yesterday. The cash articles showed
signs OF strength. influenced by small
offrings. and shorts were disposed to
cover. September opened &c lower, at
17zc. and advanced to 17B@1sc. Later
n the session longs were free sellers,
prices receding to the lowest point of
the day, Septmber being offered at I7kc
at the close
StIl lower prices than before were re-
corded for provisions during today's
session, but the changes quoted at the
close were very little under the final
prices Of the day befor. September
pork opened unchanged at Sc 40. winding
up at $6.421a. after selling as low as
$685.. September lard opened 21z cents
lower. at $S.521s. sold at $3.50 and re-
acted to tn opening price September
ribs opened PIC lower, at 81. 52hs, sold Off
to So As and reacted to $3.50 at the close.
net loss OF &c.
Estimated receipts for Monday are:
Wheat, 235 cars; corn, 80 cars: oats.
10 cars, hogs. % 900 head