The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-06-02

Minneapolis, Small Decrease in the
Visible Supply, Prospects of Clearing
Weather and the Orange Judd Farmers
Estimate of a Three Hundred and
Twenty Million BusheI Crop-Corn and
Oats Affected IN Sympathy With Wheat
and Both Close at DecliRes-ProvIsions
Chicago, Ill, June L-Wheat today
suffered a decline OF Ia cents from Fri
days closing figures. and this in spite
of the mass Of bull news in circulation.
= general disposition 10 unload, and
the big break at Minneapolis, were the
chief reasons for the weakness. Corn
and oats were both affected and declin-
ed q cent each. Provisions made IL
regular recessions.
In the wheat there was a good active
trade and large business. the range for
the dyay being "a cents. The early
tone was firm, July, which on Friday
closed al 577g cents, started al from $50
ISL cents, but after a short struggle,
the bears got complete control, and the
prices went from bad to worse all fore
noon, July getting as low as 565s cents,
or l cent below the close of Friday, and
the same as the lowest price al which
the May delivery sold in midwinter.
The steadiness early was attributable
70 the rains in the south and southwest,
decreased stocks at Liverpool and ad-
vices from France regarding the out
look there, former estimates being low
cred on account Of drouth. Under the
influence OF this news there was fair
buying by local traders for a while, but
offerings increased, many coming from
the outside, and prices sold of quickly.
The break at Minnea polls, the small de-
crease in the visible-S5S, 600 bushels
and the prediction of rising temperature
and clear weather for the west and
northwest had a good deal TO do with
the weakness When the estimate OF
the Orange Judd Farmer, of a crop OF
320,000,000 bushels and $50, 900, 900 spring
wheat came, the weakness was increaS-
ed, the vicious selling finally carrying
the price of ~ cents from the top point
Prices continued weak TO the close OF
the session and though there was some
recovery from the low point. the feel
ing was decidedly weak and nervous,
July closed at 5611s cents.
Corn naturally declined in sympathy
Will Tic S4lLCIIIe UrpENSS4uA III HAcdN
July opened unchanged at 277s cents
and received considerable outside sup
port, under which prices were well
maintained. The slump in wheat and
the big estimated receipts tomorrow,
however, proved to much for prices
and July, after touching 2S1s cents, clos
ed easy at 2711z a g cent loss. a good
business was transacted.
Oats were influenced by the same con-
ditions as corn and the close showed
similar result. uJly opened unchang-
ed at IS cents. touched 171a cents and
closed easy at 175s cents.
Provisions were active, but at a con-
siderable reduction in prices. This was
caused by the enormous run of hogs
and, though fair support was given for
a time, the closing feeling was weak.
July pork closed Is cents lower at $6.s5;
July lard 10 cents lower at S4.1212; July
ribs 121a cents lower at 1855.
Estimates for Tuesday: Wreat, 20 cars
corn, 1000 cars; oats, 100 cars; hogs, 80
COO head.
VISIBLE GRAIN SUPPLY.
New York, June 1.-The visible supply
Of grain Saturday, May 80. as compiled
by the New York exchange, is as fol-
lows: Wheat $3.50, coo bushels, de-
crease $4,000 bushels; corn $3.50. 900, in
crease $4,000; oats S,303 900. increase
6Ss, 900; rye. 5000, decrease 200; bar
ley $4,000. decrease $4,000.