The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-12
DAY FOR DUMPING
DEALERS GET READY FOB THE AP-
PREACHING HOLIDAY.

Besides the Bear Influences Make Large
Showing of Themselves-Lower Cables
and Larger Northwestern and Local
Receip;s-Good Weather for Wheat
Last Weeks Worlds Shipments Largely
d-Market Hammered, in
the Face of the visibIe-Corn Active
Oats Quiet, Both Lower.
Chicago, Feb. 11-Tomorrow being 3
holiday created a disposition among
grain and provision traders to even up
and probably caused considerably more
wheat to be dumped on the market than
would otherwise have been done. Wheat
| opened weak and remained so all day,
| the close showing a loss of q cent since
yesterday. Corn lost Il cent, oats g
cent and pork, lard and ribs lost p
cents, cents and ~ cents respectively.
| In wheat the early influences were
| rather bearish, the chief of which we're
the lower cables and large northwestern
| receipts as well as local. Liverpool was
quoted q pence easier and northwest
| ern receipts We're over 100 cars greater
| than the same day last week. The mar
| ket, too, was Influenced some by the
1 fact that the first arrivals Of a large line
purchased in the northwest by elevator
| interests here had arrived. But the later
| advices were of SUCH favorable charact-
| er that prices gradually recovered half
| Of the decline This was due TO the fact
| that the worlds shipment last week,
which We're estimated yesterday at T.
| 900 bushels, were found today to
4 hax : Or
about IN line with what they have been
| for some weeks past, and still 100000
| bushels below the estimated weekly
consumption. There was also fair buy
| ing for eastern account, which also help
ed to check the decline in prices. Pri-
mary receipts. however, footed up large
and the weather indications came more
favorable, warm and fair conditions be-
ing indicated, and prices Jagged back
May wheat, which closed yesterday at
| 663s cents, opened with sales at Sc 20 662s
cents, fell to 65%t cents, advanced to $685.
cents and at noon was 66is cents. Al
though Bradstreet's reported over 1000
600 bushels decrease in the worlds
available supply last week, some OF the
big traders hammered the market dur
ing the last hour and drove the price
of May down to SOS cents, that being
the closing quotation.
Corn was fairly active and lower, in
f1uenced by sympathy with wheat and
by expectations Of larger receipts on
the improved condition of country roads
May opened 4 cent lower at 30A cents
and fell steadily to 297sG30 cents split.
The market continued TO weaken during
the last hour and May closed at 297s
Oats ruled quiet and lower, the weak
ness in wheat having its usual effect.
May opened unchanged at 21A cents,
sold at 211s cents. back again TO PA
cents. declined to 207s cents and finally
closed at POS OBJ split.
The feeling in provisions was weak
during the latter part of the session
and material declines resulted. Re
ceipts of hogs were larger than were
expected and sympathy with the weak
ness in wheat helped in the decline
May pork opened at 5 cents lower,
at $lO.2215, and closed at 80 Lard was
equally weak and fell from s. So at the
start to S5.571a closing at $3.50 May
ribs, which closed yesterday at $5.2715,
opened this morning at 1925 and de-
clined to s5.1712, closing at $500.
Estimates for Wednesday-Wheat
127 cars; corn. 156 cars; oats, 100 cars;
hogs, $4,000 head.