The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-12-02
GRAIN ANDPRODUCE
LACK OF EXPORT DEMAND WEAK
EMS WHEAT.

Fields Boom the July Option-Heavy
Western aud Northwestern Receipts
Lake Traffic Near Its Ciose-slim Ex.
port Demand starts Unloading.
day but very dull until about twenty
minutes from the close Of the session,
when it started on decline that left it
1884 cents lower for May than it
closed yesterday. Lack Of export de-
mand was apparently the weakening
feature finally. Corn, oats and provis-
ions were all dull and price changes at
the close were Insignificant.
The misunderstanding of an order to
buy December wheat came near democrat
izing the market at the opening. A COM
mission firms order to their broker to
buy 5000 bushels December wheat was
misconstrued and the wheat was in
stead offered for sale, resulting in some
other small lots coming on the market
and an almost immediate decline to 81
cents, as against IS ga cents at the close
yesterday. The mistake was soon dis
covered and the buying OF not more than
$4,000 bushels put the price, up again to
SO "a cents in quicker time than it took
to go down. May started unchanged at
81 Is cents, but the effect of the disor
ganization I'm December caused tenn
porary depression in May to 80 "a cents.
1t quickly recovered, however, and in the
course Of the forenoon ii reached 81 So
cents. The cold weather continued
throughout the winter wheat region and
the fields were Still uncovered. The St.
Louis crop experts evidently thought the
trials that the plant was being subject
ed to were more than IT could live
through, as several order. came from
there to buy July wheat. That future
in consequence was relatively stronger
than May. Minneapolis and Duluth re-
ceipts once more this week showed some
falling off compared with the previous
weeks but were still discouragingly
heavy as against those Of a year ago.
Those places reported us cars, against
1852 last week and 316 the like day OF
1896. Chicago received lis cars against
only "a last year, and shipments hence
were 234, 900 bushels. Atlantic port
clearances were equal to $4,000 bushels
in wheat and flour. The western pri-
mary market receipts were 1,OO9. 900
bushels, compared with only 1000
bushels last year. Zero weather pre-
vailed in the region around Duluth, so
that It was considered very questionable
if any further shipments would be made
by lake from there this season. This
was delivery day but Notwithstanding
this fact there was hardly any wheat
turned over and 1t is the belief that lit
tie will be until navigation Is closed.
Liverpool opened unchanged for all
futures, but May. which was s-sd high
er, but it closed strong at from SIS to Id
higher, March, the active trading month,
being the strongest. Notwithstanding
the rather encouraging situation, the
trade was so light and the active local
traders go reluctant to retire with any
unfinished business on their hands that
in their efforts TO dispose OF long wheat
they accumulated during the forenoons
rise the market slipped from under them
anu the pIloe OF May went down from
81 5-S cents TO 90 3-S cents about fifteen
minute. from the close. New York re-
ported but ten loads for export This
lack of export demand started the I'M
loading which was rendered difficult by
the almost UTTER lack OF buyers and
prices slipped down very easily. May
closed at 90 3-s990 1-2 cents December
behaved better after its morning gym
nastics and closed at SO IA cents, an ad-
vance of 1-2 cent
Corn was firm and very little affected
by either the early strength OF closing
weakness OF wheat. The better feeling
wa. due in a measure to the belief that
the December liquidation I. about over
and the spread today narrowed some.
There were no deliveries on December
contracts. Gables were firm and exports
good, amounting to $4,000 bushels. Re-
ceipts were 319 cars. Country offerings
were moderate but the weather is fav-
orsble for the movement. Trade was
May ranged from 90 IA
cents to 291-S cents, closing e shade
higher at % 1-sG29 IA cents.