The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-09-30
WHEAT is HIT HARD
DECEMBER DECLINES A CENT AND
THREE-EIGHTHS.
At the Very Outset. to Cool the Ardor of the
western Receipts and the Worlds Ship
ments Indicate That Somebody Has
Done Some Bad Guessing on the Rus
sian Crop Corn Declines an Eighth
Cent. Oats Advance the came Amount
and Provisions arc Lower.

Cent. Oats Advance the same Amount
and Provisions arc Lower.
Chicago, Sept. 29-December wheat
today declined 1asc- The market was
too heavy to be held UP. even with the
active support of a large contingent
playing for big profits, the big north
western receipts and worlds shipments
bringing out more wheat than the mar
ket could stand. Corn declined 1sc;
oats advanced * and provisions de-
clined 71s@10c.
Two decidedly depressing items OF
news greeted the bulls in the wheat
market at the opening. One was the
Russian shipments of wheat, which
amounted to 2,024, 900 bushels, compared
with 1,54S, 900 bushels the week before.
This made the total exports to Europe
$4,000 bushels, as against 6,416, 900 last
year. 1t was far from confirming the
statements Of a short Russian crop,
wrich have done so much in helping to
create the bull sentiment with which
the traders are saturated. The receipts
at Minneapolis and Duluth were 1,1S2
cars, compared with 903 cars a week
ago, and 1,226 a year ago. The effect
of this was seen at once. December,
which closed yesterday at 67A, opened
weak at from 66SA to 671sc- The depres-
sion lasted till December wheat touched
661a65sc It recovered to 675sc in about
an hour, the rise being gradual but
steady. After the price jumped around
like popcorn over a mot fire, but in the
end did not swell worth a cent" The
Atlantic port cleranceS were heavy,
amounting in wheat and flour together
to $4,000 bushels. That was the rea-
son for some resistance to the decline,
which threatened every temporary ad-
vance. BladStreet's report came dur
ing the last hour, showing an increase
in the worlds stocks last week of only
So, 600 bushels, where there was over
5000, 900 bushels increase the week be-
fore, but this did not arrest the weak
ness. Selling pressure was heavy, and
December finally dropped TO $3.50. 1t
reacted to $3.50, but turned weak again
and closed easy at 66A@ssc.
Corn averaged firmer notwithstand-
ing the weakness in wheat. There was
a good demand, partly to cover shorts
and partly for the long account, and
the average was the same to a fraction
better than 1t closed yesterday. May
opened &c lower, at 25Isc, fiuctuated be-
tween 257sc and 25%4c, closing. steady at
251kc.
Oats were firm under a good inquiry,
largely from the elevator interests, and
were also helped by the firmness in
corn The opening was slightly easier,
but the prices soon declined. May open
ed about unchanged at 195s@1ac, fluctu-
ated between 19AG% and closed at 1875
@1ac-
Provisions got a weak start on ac-
count of liberal receipts of hogs at all
western points and nothing happened
to turn speculative sentiment. The de-
mand for cash products was reported to
be good. w estern packers were liberal
sellers of January pork, and commits
sion houses appeared to have good
deal of short which they were covering
for customers Prices ruled easier all
day closing easy at slightly lower prices.
January pork closed 1Oc lower, at 81;
January lard, 71Ic lower, at $4071s, and
January ribs, 7114c lower, at s3.471z.
Estimated receipts for tomorrow:
Wheat. 1876 cars; corn. 61O cars; oats, $50
cars; hogs, 81, 900 head.
BRADSTREETS VISIBLE.
view Ork, sept I5.-Specldl CdDle anu
Geographic dispatches to Bradstreet's,
covering principal points of accumula-
ton, indicate the following changes in
available supplies last Saturday as COM
pared with the preceding Saturday:
Wheat-United States and Canada,
east of the Rockies, decrease ,157, 900;
af1oat for and in Europe, increase 752,-
900; total increase worlds available $685.
600 bushels.
Corn-United States and Canada, east
of the Rockies, increase s56, 900 bushels.
Available stocks Of wheat east of the
Rocky mountains, exclusive of those in
cluded in the official visible supply state
ment, showed, among others, the follow
ing changes last week: Increase 331 900
bushels in Chicago private elevators;
800. 900 in northwestern interior eleva-
tors: 10000 at various Manitoba storage
point and 100000 in Galveston; decrease,
1875, 900 bushels at Fort Williams. Ont;
$50, 900 at Cleveland and 1000 at Omaha.