The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-28
WHEAT is RAIDED
JULY CLOSES At THE LOWEST
PRICE OF THE SEASON.

Market Makes an Effort During the First
Haif-Boar But sinks Back rs Bullish
Crop Bulletins and Other Encouraging
Matters Give Place to Selling to Take
and Favorable Weather, Declining
SlightIy-Oats Advanced by Good Buy
ing-Provisions Advance.
Chicago, Ill. May 27.-wheat, after
an encouraging opening, succumbed 10
a general raid late in the session and
July closed q cent below yesterday.
The lowest price of the season. To the
failure of prices to respond to Brad
streets visible supply decrease is ascrib-
ed the selling movement. Corn was
affected, but declined only 1sGA cent.
Oats closed practically unchanged and
provisions made slight advances.
Wheat made staggering effort to
rally during the first half hour of the
session, but soon wearied and fell back,
selling at a trife below the close Of the
day before, but up to noon kept very
close to the finishing price the day pre-
vious. The early steadiness was due
in measure to the rather bullish adj
Vices in this weeks crop bulletins,
especially in regard to Michigan, and
the cables did not show the declines
generally expected, Liverpool being
quoted u pence lower for spot and /
pence off on futures. Northwest re-
ceipts were much more moderate,
amounting to only 262 cars, and New
York reported 408 bushels cash taken
for export there yesterday. But the
advance was too tempting to be resist
ed and there was sufficient selIink on
the advance to cause the slight improve
ment to Quiskly disappear. Bradstreet's
showed a decrease in the worlds availa-
BILE supply of 100000 bushels, against
a decrease for the same period of 1895
OF 2,86S,090 bushels. This caused a
moderate rally when announced. July
opened about unchanged at 59K az
cents, sold up to 59s9A cents, declined
to 59A cents and back 10 5915 cents.
About noon the market had a sharp
break and became semi-demoralized for
a few minutes, numeous orders being
executed, many OF which were able to
sell at the limit, so quick was the de-
cline. The weak closing cables, Liver
pool coming 191Aa pence lower on fu-
lures, started the break. St Louis turn
ed a seller, and prominent local trader
with large elevator interests was credit
ed with selling freely. Parties who
bought early sold out and for a while
the market was most excited, July fiual-
~ closing weak at 5S5sQA cents, after
touching 5S7s cents.
Corn was quiet and closed easier, In
huenced by the liberal local receipts and
favorable weather. Fair support was
given, however, and the decline, in spite
OF the unfavorable conditions prevailing
prices advanced slightly. July opened
unchanged at 1915 cents, touched 1SA0
Is cents and closed steady at 1ShQA
cents.
Provisions were moderately active.
Opening prices were practically I'M
changed. There was a little more dis
position among packers to buy and this
with fair outside support, caused a
slight advance which was maintained
to the close. July pork closed ) cents
higher, at s7.021A. July lard closed 2]s
cents higher, at s420. July ribs closed
219 cents higher, at $3.50.
Estimates for Thursday: Wheat, Is
cars; corn, Sc cars; oats, 256 cars; hogs,
10000 head.