The record-union., 1897-08-08
SHARP BREAK IN WHEAT PRICES.
DECLINE IN BOTH FOREIGN
AND EASTERN MARKETS.
Enormous Exports Reported From
New York During the
Past Week.

| CHICAGO, Aug. 7.-Wheat led the
| way to a general decline in prices on
! the Board of Trade to-day. Foreign
| markets failed to respond to the ad-
| vance in wheat yesterday, and the
| cash sales were very moderate.
| Liverpool quotations for futures of
wheat were from Ad for September to
asd for December lower than they
| closed the day before. That was the
reason for a decline here of 1c per
| bushel. To begin with, September,
which was bringing 77hc as the ses-
sion ended yesterday, started with SELL
| ers at from 761sc@161, Trade was
| light. Those who made a handsome
profit on the advance are not disposed
to risk any of it buying against the
side of a 5-cent or 6-cent decline A
moderate amount of short selling was
evident on the first bulge to 767sc, and
grew in proportions as the session pro-
gressed.
Chicago receipts We're 125 cars. of
which thirteen were new spring wheat.
Minneapolis and Duluth reported re-
ceipts of 15S carloads, against 427 a
week ago and pa the corresponding
day of the year before The amount
Ills ptCttu Out vi SlOIe WAS ZOOUU
bushels. Chicago receipts for the week
were 100000 bushels and the ship
| ments 605,952 bushels. The weeks
clearances of wheat and flour from
both coasts were equal to 3,3OS AT
bushels, compared with 2343, 600 BUSH
els the week previous and 2,147 900
bushels the similar week last year
About the only bearish feature in the
mornings news was the report of the
Kansas crop, giving the yield as 35,-
5S9,00O bushels, compared with 80 794, :
900 bushels the year before. The South
Dakota wheat crop was privately esti-
mated at 100000 900 bushels. The Gov
ernment's estimate for the year be-
fore was 27.5S3, 600 bushels.
The startling rumors to the effect
that the Russian Government intend
ed stopping wheat exports were dis
credited, owing to the apparent weak
ness in the foreign markets. Near the
end Of the session Paris was reported
212c@634c per bushel higher. A half
cent rally followed but the quotations
were looked upon as an error, and
had little effect A fresh decline set
in, which carried the price to the low
est point of the day
Cash sales were small, compared with
the enormous transactions of late. New
York claimed forty boat loads sold. and
one or two round lots We're worked
here. September rallied 1ac at the
close, chiefly on covering.
NEW YORK MARKET.
NEW YORK, Aug. TN the wheat
market this morning there was an
opening break of about a cent bushel
on the weakness at Liverpool followed
by n full recovery on the announce
ment that Paris markets We're decid-
edly higher. This in turn was sue
ceeded by sharp break, prices sink
ing 20 the lowest figures of the day.
the decline being accelerated by some
liquidations and general cleaning up
of accounts for Sunday.
The exports during the week have
been enormous. the figures showing
about 100000 bushels over the pre-
vious week. In the interior receipts at
the same time have shown a moderate
increase. There was less active ex-
port demand to-day, shippers taking
about 200, 900 bushels in all. The range
of September was from S31sc to SAC,
closing at S31sc. On the curb the mar
ket was weaker, selling off to S23sc.
with a slight rally toward l o'clock to
So 1-1tic