The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-09-08
NHEAI GOES WEAKER
September 1-8 and December
IL to So Cent Lower.
CORN AND OATS DECLINE
Provisions Rule Strong and
Close at Advances.
CORN AND OATS DECLINE

Chicago Sept. Interpretation OF big re-
ce!pts together win a declining corn
market today. weakened whea- After an
early rally, September closed 1sc lower
ana December vase. Corn lost %q&c,
Oats declined 14z@.c. Provisions ruled
strong pork advancing PIC. lard 1oc. and
ribs l9Ql2c.
Liverpool cables were rather dIsap point-
ing, and that, together wlh the weak
ness displayed by corn, started wheat
lower. The receipts in the northwest were
smaller and the markets in that guar
ter were firm. That resulted in a gradual
change of sentiment here and there was
some buying for the long account waich
finally started shorts covering and maceri-
ally hoped the price. The feeling among
the bulls generally was that the market
had had nearly everything against il of
late, and yet had been - stubborn as to
indicate that IL possessed a good deal of
inherent strength. They argued that
prices wer more likely 10 rally than to
meet with further loss and for that rea-
son traders as a rule took the long side.
Adyices from MInnea polls said the move
ment there for the next three months
would be on an increased scale. That
in addition to the declining corn market.
resulted in cooling the ardor of the bulls
and under realizing and short selling, the
price gradually declined until the early
gain was more than lost. The market
closed near the low point for the day.
There was very little demand for ship
ping parcels here. and such bids as came
to hand were at reductions and unworka-
bic. Minneapolis and Duluth reported $50
cars, compared with 512 the corresponding
day of the year before The total of the
receipts al western primary markets was
l,364.00 bushels, against 1868 900 bushels
last year. Exports from Atlantic ports
were equal to 400, 900 bushels. September
opened &c down at 61%c, advanced to
CSC, sold off to 615sc. and closed at 61sc,
buyers. December started Is to Ac lower
at 6O15G6O4sc, rose to 6O7sQ6lc. reacted to
601sqa014c, and closed at 6O14 G602sc.
The failure of anything like damaging
frosts to make an appearance IN the
corn belt last night and expectations of
generally warmer weather weakened
prices in the corn pit Shorts who had
covered up yesterday in fear that the
threatened freeze might be a serious one
resold and there was a good deal of liqui-
dalton Of long property. Prices continued
to sag all day and the close was near the
opened &c lower at 301aq3O5sc, declined to
SOC, and closed at Boise, sellers.
There was a good business done in oats
al lower prices. Corn was followed al
most all the time, but the losses were
not nearly so large. May started I'M
changed at 21aQ22c, and declined to 215sc
buyers the closing price
Good general buying by packers, with
the English concerns leading strengthened
provisions. The cash demand continued
good for all descriptions of hog products,
December pork opened unchanged at
sS.3712. advanced to $3.50, and reacted to
$40, the closing price. October lard be-
gan unchanged at A.721R, weakened TO
S.67@0470, improved to s4S5, and closed
at 81 S212, sellers. October ribs started ~
cents lower at $500. rose 10 $500, then
weakened to s5.15, the closing figure.
Estimated receipts for tomorrow are:
Wheat. 200 cars; corn, 375; oats, 800; hogs,
&c 900 head,