The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-24
WEAK and DECLINING
Wheat Market Gives a Fine
Imitation of Stagnation,
LOWER BY 1-2a5-8 CENT
Foreign News Influential
Everything Else Lower.
LOWER BY 1-2a5-8 CENT

Chicago H., June 2a.-wheat was veal
today and closed at a decline OF 1zg9sC
from yesterday. Weakness in foreigr
markets and more favorable foreign croE
prospects kept buyers out Of the market
Corn and oats were both heavy and de-
| clined about &c each Provisions lost
2l2G5c Of their previous values. The board
will adjourn from Saturday. July l. to
Wednesday, July 5.
So far as the total amount Of trading in
wheat is concerned. today's transactions
could easily have been crowded into one
hour OF the session without making it re-
markedly active. Business at times was
almost at a standstilI, and although news
was OF a decidedly bearish character. price
fluctuations weer almost as narrow as the
usual range in coarser grains. The open
ing was weak, September starting at 7614c,
compared with yesterdays closing price
OF 76Bc, and a fe sales were made at
76lsc, shortly after the start. That proved
to be the bottom of the market for the
day. Liverpool was expected to show
strength today, following the substantial
recovery here yesterday, but declined in
stead. Odessa reported more rainfall. fol-
lowed today by exteme heat Rains were
also reported at other oints where drought
has prevailed. On the opening decline
there was buying enough to cause a grad
ual reaction to 1855 G7sizc. There was no
let-up in the heavy primary receipts. and
as todays cash and export demand showed
considerable failing of, this was again a
factor in the weakness. which. before the
closing time. carried the September price
down to 76G76lsc again. Minneapolis and
Duluth reported arrivals of eco cars.
against 665 .ast week and 1874 a year ago.
Chicago receipts were 100 cars, three of
contract quality. The total primary re-
ceipts were s7s000 bushels, compared with
5000 bushels year ago. Atlantic port
clearances Of wheat and -four were equal
to ISL 900 bushels. Toward the close the
situation was improved somewhat by the
cash business, which proved to be better
than expected. 240.OOO bushels in all being
reported worked here. This injected a lit
tie life into the market. and resulted in
a recovery In September to 76td 76asc. 1t
was bringing that price at the close. A
feature which may later prove TO be a
bull help was the reported rain in France
and Hungary where harvesting has al
ready commenced. Foreign advices stated
the effect would be serious II the rains
continued.
Corn was heavy and lower. Receipts
were heavy. 996 cars and elevator people
and local longs weer free sellers. The
cash demand was light and heavy receipts
are looked for tomorrow The market most
of the time was at about put figures. and
there was some buying to protect those
privileges. Crop reports were generally
favorable. September ranged from 342sc
to 24%c and closed &c lower at 1890.
Oats were dull and weak. principally in
sympathy with wheat and corn. There was
some selling on favorable country advicas.
There was little buying OF July by ship
pers. A new factor was the announcement
OF a poor oats crop in France and some
seaboard demand from there. Receipth
were 23S cars September ranged from
21ssT21s.c to 221sc and closed safe lower.
at 21Yc.
Provisions weer extremely dull and
heavy. Hog receipts were large, and
packers were sellers in a moderate way.
There was also some selling caused by
uneasiness over the labor situation at the
yards. The shipping demand was liberal.
Changing from July TO September was a
feature of trading. At the close Septem-
Der pork was sc lower at $3.50: September
lard a shade lower. at $5.1015. l2i2. and
September ribs 2isc lower at s4.SOd4.S 2iz.
Estimated receipts Saturday: Wheat
100 cars; corn, Los; oats, 375; hogs. 200
head.