The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-11-03

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Chicago. Nov. Aft attention had not
been forcibly called to the alarningly poor
prospect for crop OF winter wheat next
season the market for that article would
probably have closed a good deal lower
than it did today. AS It was, the Deem
Der option showed Nc decline at the fin
ish. Favorable Argentine crop news, large
northwest receipts, and additional rains
east Of the Mississippi were among the
weakening factors. Corn was weak early,
but closed unchanged. Oats were shade
lower at the close. Provisions closed 5
changed for lard.
Wheat started weak at from SIC to
s57sc for December, about We below ths
closing prices Of the day before, The tend
ency during the greater part OF the fore
noon was toward a further break and that
was made easy by the dullness OF trade.
About an hour and a half from the opening
December had got down to s5Ac. Chicago
receipts were z3S cars. and Minneapolis
and Duluth received 1,o4s cars, against 997
@ week ago. Liverpool quotations for fu-
lures were favorable to the bears. but Cal
ifornia wheat on the spot there was 11ad
higher than IL closed the day before. Flu
lures opened from q 10 7sd per Genital
lower. A report from St Louis said five
mills had closed there, the reason given
being that they could not sell their -four
at a profit based on present prices of
wheat Argentine crop news continued
10 be Of It's favorable complexion. Further
rains have fallen throughout the drought
stricken District east of the Mississippi and
a material improvement In the past aver
age and winter wheat prospects Is looked
for. All this was known before the OPEN
ing, and was responsible for the weakness
SHOWN during the morning. The first mat
ter Of clearly bullish enough character
to arrest the strong downward tendency
was the report IN the OronEe Judd Farmer
Of the acreage and conditions OF winter
wheat as It stood October q. That report
indicated the worst prospect for winter
wheat crop next season ever known at
this time Of the year. Even with this as
an incentive, the market hardly wiggled
until buying orders from the outside came
in. That started the market UP. and, local
characters taking hold, December rose to
951sc. Some export business was done
from here, 10000 bushels No. 2 spring, and
10000 bushels red winter. December closed
al CSC.
Corn was weak early In sympathy with
wheat, but rallied later. There was some
selling of long corn on the theory that
clear, cold weather would Increase western
offerings. There was a good inquiry for
spot corn, but not much business resulted.
Receipts were moderate, 6i0 cars. The
late rally in wheat started some sympa-
thetic covering by corn shorts, and all of
the early decline was recovered. Deem
at 2s3lc.
After the first half hours business In |
oats, the market was very quiet, with no |
disposition to do business either way. Early |
elevator concerns sold quite freely and |
with corn and wheat both tending Onward |
weakness this market followed in their
wake. The recovery in those markets
caused similar action in oats the market |
closing at shade under yesterdays price.
Receipts were 81 cars. December ranged |
from 19ItdKc TO 19c, closing at 19Is6Ac.
In provisions, there was some dtsappoint-
ment over the decrease IN stocks, which |
were smaller than expected. The market
was weak at the opening, and for some
time after On moderate liquidation. Eng
lish houses were good buyers later and
prices reacted The cash demand was
good. At the close December pork was
cents lower at $50; December lard IN
changed at s422ls. and December ribs
cents lower at &l5.
Estimated receipts Wednesday: Wheat
80 cars; corn, $50 cars; oats, $50 cars;
hogs, $1,000 head.
LARGE ARGENTINE CROP.
New York. Nov. "A dispatch to the
Herald from Buenos Ayres saysi The
prospects for crops in Argentine are SPLEEN
az
yield of wheat Will be very large. In view
Of this fact no northern wheat is being
purchased here. That which is being de-
livered here was bought before 1t became
known that the wheat crop here would be
10 large.