The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-30
BIG RECEIPTS AGAIN
In the Northwest and Septem-
Der Wheat Declines
DESPITE DAMAGE REPORTS
Corn, Oats and Provisions
Lower.
DESPITE DAMAGE REPORTS

Chicago. Ill, June 9e.-Heavy additions
to stocks in the northwest was a phase Of
| the situation in wheat today that caused
il 10 weaken after a considerable show Of
| strength. September closed at decline OF
asc, compared with yesterday. Everything
else On the door was heavy, corn declining
| I492sc, oats closing a shade lower and pro-
visions 21a95c lower.
Weakness characterized the opening In
wheat. Weather was favorable for the
harvesting Of winter wheat and the
growth Of spring. Liverpool cables were
| somewhat disappointing, showing slight
declines in some futures, and northwest
receipts, though showing some falling of,
was still too heavy to permit of any bull
ishress from that source. There was in
addition an inclination 10 even up on
trades. and these factors ruled the market
for the first half-hour. September opened
at T4i4c. compared with yesterdays clos
ing price Of T4i<c. 1t soon declined to T4lsc
then gradually turned strong. and though
many minor fluctuations occurred the ten
dency in the main was toward higher
prices until late in the afternoon Reports
factory concerning growing wheat. Many
complaints OF damage were received. prin-
cipally from rust. while from the winter
wheat country reports OF harvesting oper-
atoms weer disappointing in some cases.
The northwest markets showed strength
even when this market was declining, and
as this was regarded as evidence of the
truth OF tina damage reports, it had
strengthening effect on the local market.
Russian news became somewhat of a fac
tor again. Private advices from Russia
eclare that country would not produce over
half a crop and a noticeable increase in
the buying occurred when this became
known. Minneapolis and Duluth receipts
were 81 cars. against 535 last week and
l3 4 year ago. Chicago receipts were 122
cars. II of contract quality. oTtal primary
receipts were $4,000 bushels, compared
with e1.Oe1 bushels last year. Atlantic port
ciearances were large. 7el 900 bushels. but
New York reported on,y 10 loads taken>for
export today. ST. Louis reported that new
wheat arriving was of the best grade in
a number of years. There was consider
able covering by shorts during the session,
and IN the absence OF selling Of Importance
the September price gradually moved up
to 74st 1747sc. Shortly after noon the mar
ket turned weak. Minneapolis stocks OF
wheat were estimated 10 show an increase
of 80. 90 bushels this week, and Duluth
stocks probably a similar addition. This
checked buying in hurry and when Chi
caEo's estimated increase was put az 200.-
000 bushels the selling movement became
predominant and prices slid OF quite rap
idly The decline was taken advantage OF
by room traders to raid the market in a
small wav. and marked weakness was
shown in the last few minutes Sep;em-
bar finally declined to 74isc and closed at
that price.
Corn was dull and heavy. The market
was Influenced ny favorable weather and
continued large receipts and by the cor
tinued July liquidation. Country offerings
were small. however. and a sharp failing
Off in receipts were predicted for n@xt
week. Receipts today were leg cars. The
cash demand was small. September rang
ed from 327sc 70 $42sc and closed 1aaSsc
lower. at 3iIS;Ec.
Oats weer quiet and easv. December
weakness being more marked in July than
in September July was offered freely and
shovel a c'osing decline II &c. The
weakness was mostly IN sympathy with
corn. Trading WIS small the demand for
both cash and futures being moderate.
Receipts were go cars. September ranged
from eizsc To cl=. d17sc and closed a shade
lower at 2l7.c.
Provisions were quiet and heavy. The
packers were the best sellers, probably
with a view Of widening the carrying
charges. Weakness Of corn ard lower hog
prices Influenced the market in degree.
A. the clCsA September pork was l2T5c
lower. a. s.. n: sentAmber lard. = lower.
at SI7Is and September ribs 2i=T5c lower.
al &s7ia.
Estimated receipts Friday: Wheat. rs
cars: corn. l.o0o; oats. ~; hogs, 24.od head.