The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-13
STRONG At Starting
But Wheat Closes Near the
Bottom of a Decline.
CORN IA CENT LOWER
Oats l-8 Cent Up--P Provisions
Unchanged or Higher.

Chicago, June 12.JWheat today made
best prices around tine opening. It was
near the bottom at the close, and showed
a decline of 1-SQ1-4c. Corn declined Lac
Oats were strong and advanced 1-Sc. Pro
visions closed unchanged to 21-2c higher.
The effect of the unexpectedly bulIish
government crop report given out Satur-
! day was apparent at the opening in wheat,
but it was soon shown that other infiu-
! ences had superseded it in the minds of
spectators. The opening in July ranged
all the way from 76 5-Sc to nc, compared
with Saturdays closing prices tof 10 lie.
It sold at once at rs lie, but rallied al
with Saturdays closing prices of Is 1-2c.
most Immediately to 76 7-Sc. But in this
little spasm of nervousness was dissipa-
ted all the effect Of the government re-
port Selling was heavy on the bulge
Commission houses were in the [arket
with big lots. For a short time the mar
ket held up under the liquidation, but
finally broke, rs 1-Sc being touched before
any reaction occurred. Heavy -four sales
reported from the northwest caused a ces-
sat.oA of liquidation from that section,
but in the meantime local holders had ap-
parently lost confidence, and the offerings
at all times exceeded the demand. The
enormous western movement became the
one factor as the session advanced. Min
neapo,ts and Duluth reported arrivals Of
976 cars, against SS4 last week and $50
a year ago Chicago receipts were 142
cars, Of which were contract quality.
The visible increase amounted to las, 900
bushels, about what was expected, and
this helped in pressing prices to a lower
level Worlds shipments for the week
were 10000 bushels. Atlantic port
c.earances amounted TO 356,O0O bushels
The Manitoba government report gave an
increased wheat acreage, with an almost
perfect condition. Domestic crop news
was unfavOrable as regards winter wheat,
but favorable as to spring wheat. The
market became very weak toward the
close, on the announcement Of the estima-
ted receipts of 400 cars tomorrow. July
finally sold down to 10 1-Sc and closed at
70 1-4Q3-Sc
Corn early was steady with wheat Fear
that the strike in Buffalo would again
Involve the elevators weakened the mar
ket later, and prices gradually slid off.
Liberal receipts, light shipping demand
and generally favorable weather fvere
factors in the decline. July ranged from
SO - to SAC and closed lac lower at 80 ~
ass Sc
Oats were independently strong There |
was again a good demand, mainly for |
the deferred futures, some Of it for for |
eign account and this the bullish gov
eminent crop report sustained prices dur |
ing the decline Of other grains. Selling |
was scattered. Receipts We're 1877 cars.
July ranged from % IA to % 1-2Q5-Sc, and |
closed 1-Sc higher at % Csc.
Provisions were steady. considering the
large run of hogs and lower yard prices.
There was a moderate general buying
demand, and selling was scattered. Trade
)n the whole was small and prices kept |
within narrow range At the close July
pork was unchanged at $S.O5, July lard
1-2c higher at $4g50G7 1-2 and July ribs
1-2c higher at S462 L.
Estimated receipts Tuesday: Wheat,
100 cars; corn, SEQ; oats, S16; hogs, %, 900
lead