The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-04-19
DECLINE At CLOSING
America Discovers There are
Other Wheat Countries.
COARSE GRAINS STRONG
Corn Half a Cent Higher and
Oats an Eighth.

Chicago, April 1s-Wheat today felt the
heavy liquidation of last week The elm
ination of large part Of the short inter-
est and generally favorable crop reports
had a sufficiently depressing influence on
the market to cause a closing decline in
July of &c. The coarser grain markets
were strong, especially corn, which ad-
vanced 12c. Oats closed sc higher. Pro-
visions were stagnant and closed at prac-
tically unchanged prices.
a rather easy feeling was noticeable at
the opening in wheat. With the excep-
ton of California, almost the entire coun-
try reported crop prospects as bright, with
the weather perfect for farming opera
tons Prospective buyers were also held
in check for the time being by the fact
that Liverpool, although opening at good
advance, had lost about all of il before
trading commenced here. uBt the inslp-
lent weakness gave way TO strength al
most before the market got under way
The big bull factor of last week, the Tor
eign demand for American grain, was
again very much in evidence, it being
stated that everything offered o. wheat
corn. rye. and oats was accepted in the
continental markets at good prices. This
evidence of determination on the part of
foreigners to get all the grain possible
before the actual outbreak OF expected
hostilities resulted in a very general buy
ing movement with which st. Louis shorts
were quite prominent, and which contlh-
ued for a half hour. Offerings were small
and in scattered lots, and prices adv1nc-
ed easily. July opened at 65&44SGfsc, or
a shade under Saturdays closing price.
n1trh n
cause a turn, the market had advanced TO
STAG That proved 10 be the high price
of the day. Realizing on seh advance
became quite heavy, even before top prices
were reached. The liquidation was aug
mented by the figures Of the worlds ship
nents. S.S24,000 bushels. These figures
showed that Europe was getting the hulk
of it's wheat from other countries besides
America. The early buying pressure soon
dropped off in a marked degree, and It
became evident that the heavy liquidation
of last week had almost eliminated the
short interest. This in Itself encouraged
a good deal of selling, and though the
market received support from acalpers at
times large enough to cause fair reduc-
tons, the tendency of the market in the
main was downward for the rest of The
session. After the advance to SIC, de-
cline to S6$Ic followed, and for time the
market was held at a slight advance over
that price. Before 11:30 o'clock, howeV or,
July had dropped to S6qS61sc. Northwest
receipts were light, Minneapolis and Dbl
Iuth reporting 231 cars, against 2I1 cars
last week, and sos cars year ago. Gil
ago Chicago receipts were SO cars. The
addition to contract stocks today amount
ed to about 60, 300 bushels. The latter end
of the session was marked by good deal
of nervousness, though prices Kept with
in a comparatively narrow range. The
price of July at one time fell as low as
S5%c. From there II recovered to S63s, and
fell again to SEC. II was bringing $3.50 at
the close. Trading was for the most pant
confined to July. Very little was dcne
either in May or the more deferred fu-
lures.