The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-01-12

Chicago, III. Jan. 11.-Wheat opened weak
and averaged so during the session, clos
ing with decline of 1ssc. The feature was
| the weakness of the Liverpool market.
which was a great surprise to spectators.
Corn and o.s were i'bcw:se weak, declining
| Ac and Csc respectively. Provisions were
strong and made small advances.
| Wheat vas struck on its most vulnerable
| point at the opening. wher the cables re-
| ported Liverpool from I'd to ed lower.
May wheat. which closed z. SEC Saturday.
| little more than half an hour later it was
| down 10 soc. which was the first rallyirg
point for more than &c reaction. The ef-
feet OF such unexpected weakness at Liver
pool was all the more depressing ard the
. reason for it more inexpEcable because OF
the buliishness of everything relating to
the statistical Information connected with
the weak's movement. The worlds ship
ments last week were only little over H.
10000 bushels, or nearly 100000 bushels
under the weekly consumption and 100000
bushels less than the week before. The
receipts at Chicago were only car loads.
Minneapolis and Duluth got SCI cars, COM
pared with 500 a week ago and 924 on the
similar week of the previous year. The
exports from the Atlantic seaboard since
Saturdays report were only 10000 bushels
In wheat and flour together. The visible
supply about satisfied expectations, show
Ing a decrease of T9c90 bushels. These
favorable factor led TO some increase in the
buying and some revival of confidence but
the rally was not very important. The alb
sence OF business from outside sources was
as noticeable as for some time back. When
the price of May first touched soc It was
brought about largely by the selling of peo-
pie who had puts sold, and on the other
hand the buying that caused the price to
react TO e0Ssc was in a great measure due
TO buying by those who had puts sold
There was moderate demand in the pit
for January wheat, an it exceeded the Of
ferinss. as May be concluded from the
spread between January and May narrow
ing from &c TO 224c, although $1,000 bushels
was about the total amount of the trans
actions. After the first reaction from soc
to SOssc, May tumbled again to s0MSOIsc.
1t had another rally TO so1zc, and again a
fresh fall TO SOC, from which last slump
II only recovered 3sc, closing at SOlsc, or
lfsc below its resting price on Saturday
Corn was again heavy because of the
selling by Counselman & Co., Bartlett Fra
zier end other receivers. Their selling was
said 20 be due to the poor condition of corn
III many places in the country. Sympathy
with wheat, always more or less influential
in determining the course of the corn mar
ket, was also a factor May opened I'M
changed, at 2i24c. and declined to 24J5c
where il closed.
oats acted in concert with wheat, follow
ing that market on downward course and
experiencing d very good business enroute.
general description of the trading would |
be given under general scalp
ing and there were some large lines chang |
ed May opened a shade lower at 1Sd7sc. |
sold down to 1sssq1sc and closed at 1s1ac |
bid
Provisions showed strength all day, and |
this, in spite of the large hog receipts and i
weakness in wheat. Those two factors had |
but slight effect and under good buying
by shorts. especially the packers, prices |
soon recovered from the small opening de- |
cline At the close May pork was about |
nc higher, at $3.50; May lard &c higher. at
a.l21a. and May ribs 212c higher, at s412Ia.
Estimated receipts Tuesday: Wheat, 81
cars; corn, S6i cars; oats, 2S2 cars; hogs, So
head.