The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-10-07
WHEAT MARKET LOVER
Crop Estimate and Other Fac
tors BeariSh.
CORN FIRM AND HIGHER
Oats and Provision Markets
Little Changed.

Chicago. Oct. 6-Irresponsive cables, a
big crop estimate by Snow and the let
| ting go of long wheat by ST. Louis were
the principal factors in a decline in wheat
here today, December and May closing
7-S@1c under yesterday. Corn was firm
with Liverpool, closing 1-Sa1-4c up. Oats
were steady, lcosing unchanged to a
shade lower Provisions showed insignif-
cant closing changes.
Wheat was weak at the opening. Lv-
erpool failed to show the advance expect
ed in view of the war rumors, and the
effect was discouraging to the bulls. The
market opened 1-8c under yesterdays
close, December at 70 1-4q3-8c and May
at rs 1-4G3-Sc. Reports Of large Argentine
shipments were also an influence tending
to weaken the market. An increase Of
100000 bushels in the stocks at Mime
apolis and Duluth was reported and Snow
in his report estimated the crop of wheat
at 564. 000, 900 bushels, considerably over the
government estimate. With these bear
market and the price steadily declined.
st. Louis, which for some days had been
a strong support to the local market, let
go of long line. Less important liquida-
ting was done by local and other outside
traders. December declined to Y l-2c.
There was some covering by shorts at the
decline, and this vuying against puts
caused a reaction in December to 2 3-4c,
but the liquidation was too general for
the market to stand up under and Decem-
Der again declined to 70 1-2Q5-Sc, at which
it closed. May wheat ranged at 10 3-SQ
lie to 761-4Q3-Sc and closed at IS 1-2c.
Chicago received 40 cars, four of contract
grades; Minneapolis and Duluth 1,0l4
against 500 last week and 1,019 year ago
Total primary receipts were 1,2S4,O0Q bush
els, as compared with 1,77l,000 a year ago.
Atlantic port clearances of wheat and
flour amounted to 10000 bushels. New
York reported 80 boat loads taken for ex-
port.
Corn early was strong and higher In
sympathy with the Liverpool advance Of
SD. The higher price of the English
market was taken as an evidence that
the increase in freight rates will come out
of British pockets rather than from here.
The local price was helped by an impress
sion quite generally prevailing that crop
estimates have been too liberal. Owing
to the scarcity of cars the shipping bust
ness was slow Local receipts were SIG
cars. New York reported ia loads taken
for export. December opened at 80 1-Sq
lac, ranged from so to 30 lac and closed
1-Sc higher at so 1-Sq1-4c.
Oats were extremely dull but steady.
The market in general followed corn. The
entire range was only lac. Receipts here
were 261 cars. Clearances were 2O9'oeo
bushels Snow put his estimate OF the
crop at S69, 900, 900 bushels, compared with
his estimate of 799,0O000O last year. De-
cember ranged from % 3-407-S to p $50
29c and closed unchanged at 2 7-Sc.
Provisions barely held their own, show
ing steadiness with hogs, which were I'M
changed to sc up. The cash trade was
not brisk. Hog receipts were less than
expected 21,OO0 January pork opened at
80 10 and closed unchanged; January lard
oDened 5.55 and closed at that figure;
January ribs opened at a shade up at
s.. OF 1-2G5. 10 and closed unchanged.
Estimated receipts tomorrow: Wheat lS9;
corn SIS; oats $40; hogs 5000 head.
There will be no session of the board
October 9, Chicago day.
GRAIN AND PRODUCE MARKET.
r.rCATE