The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-03-30
TNO CENTS FOR July
Marks the Decline on the
Chicago Board,
MAY Is A CENT LOWER
Cuban Situation is the Mar
ket's Only Feature.

Chicago, March 29.-Grain and provision
markets were all lower today, the weak
ness being especially pronounced in
wheat Washington news caused general
unloading. Wheat closed with a net de-
/ cline of cents for July and a cent for
/ Nay. Corn and oats closed 14d2sc lower
each, and provisions declined 2I2 cents
/ for ribs, and 10 cents for provisions. Lard
was better supported and advanced Pr
cents.
! Wheat opened exceedingly weak, initial
( trades in July ranging from 1913 TO S31sc,
I or 5sGBc under yesterdays closing price.
/ May was a cent lower at S1Gf4 and de-
/ cIined at once to $104. That future, how
/ ever, was little heard from and remained
at that price with scarcely a trade Of
note until late in the session. In July
! selling orders were prominent at first, and
il took but a brief time TO break the
/ price 10 S27sc. The break in Wall street
stocks and the days developments at
! Washington created decided uneasiness
among traders and led to the abandon
ment Of much Of the wheat taken on dur
/ ing yesterdays advance, and TO the al
most total withdrawal Of influential sup
! port from the market. The situation as
+ to Cuba, indeed, constituted about the
/ only feature of the market, as little else
/ was given any attention. The market con-
/ tInued to drop for an hour, getting down
as low as s22sc. when buying against
/ puts caused a rally to S27sc. Outside
Of this demand, there was little buying
I from any source and the market again
/ sagged, though slowly, until around the
noon hour, when the greater weakness
/ was developed. The proceedings in the
/ senate resulted in a lot OF long prOprty
coming on the market and increased the
/ volume of short selling in a marked de-
/ gree, July breaking under the pressure
to S14c. Then the market hardened I'M
/ der covering movement which assumed
respectable proportions for time and
/ caused a rally to $3.50. Northwest re-
ceipts We're moderate today, Minneapolis
and Duluth reporting 273 cars, against
800 last week, and II a year ago. Chicago
receipts were 112 cars, "a of contract
grade The total addition 10 the contract
stocks was about 127 900 bushels, So cars
/ and 81, 900 bushels coming from mixing
houses. Gables were rather disappointing
showing but little response to yesterday s
| rally here. Exports amounted to about
| 600 bushels. The visible decreased g.
! 443 600 bushels Near the close Il sharp
break in May. caused by the attempt to
market a fairly large line on an unsup-
! ported market resulted in renewed ac-
tivity among the July bears, and prices
| slipped off again in a very short time to
! Sac. After the liquidation in May was
( over, Letter brokers had no difficulty in
bidding the price, which had fallen to
/ $l.0115 up to S104i4 again. and this quick
reaction caused a little better feeling in
July. The market rallied to S17sQS2c, and
closed at that figure.
There was quite heavy selling in long
corn today and the market was weak
from the start The break was altogether
in sympathy with wheat. and the Wash
ingtOn news. Shorts took most of the Of
! ferings. There was some recovery from
| the bottom late in the session. May rang
! ed from % to 2S5sQ2S2.c, and closed 14Q2sc
| lower at 2S24 G2S75c.
! Oats were rather slow and weak Liqui-
/ dation. which marked the early hour,
was in sympathy with the wheat break.
! Support was not lacking, however, and
! caused a slight recovery. A good export
demand was of help in sustaining prices.
| May ranged from 25G25lsc to PIC, and
| closed sc lower at 2i75c.
| Provisions were irregular, though in the
main weak Lard was steadied by the
! purchases of prominent packers, but 9th
er products suffered from liquidation
I through commissions houses, Washing
! ton news caused a good deal OF uneasi-
/ ness among holders and this and the de-
/ preston in grain prices were the features
| of the selling. At the close May pork
was 10 cents lower at S9.40 May lard, 2lz
/ cents higher. at Si97l5, and May ribs 2la
/ cents lower, at $50.
! Estimated receipts Wednesday: Wheat
/ 60 cars; corn, il5 cars, oats, AS cars; hogs,
/ % 900 head.