The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-10-21
KEEPS GOING DOWN
Wheat Stocks Expand and For
eign Demand Fails,
LIQUIDATION Is THE ORDER
Other Markets are Strong and
About Unchanged.

Chicago, Oct. N.-Wheat resumed its
downward course again today and De-
cember showed loss of 5-sG3-4c. Liqui-
dation induced by heavy additions to do
nestle stocks in the face of a poor for
eign demand was responsible for the de-
cline. Corn, oats and provisions were
comparatively strong and closed practi-
shipments TO Europe started wheat weak
and lower. The bears were inclined TO
work within narrow limits. however, and
as the market at the outset was consid-
erably under put figures, a partial recov-
cry followed on buying against privileges.
Covering by shorts owing to moderat tie
domestic receipts and the strength de-
velOped by corn also added somewhat ITO
the uDturn. The liquidation, however,
was of sufficient volume 20 prevent any
thing like an enduring advance and as
the demand was shOrt-lived, the market
soon started on the down grade again.
The bears were disinclined to push their
advantage and trade finally became so
dull that for an hour in the middle Of the
session there was scarcely any change in
price. Finally longs who had been wait
ing for an upturn 10 unload, lost patience
and offerings became quite plentiful. The
market gave way under the pressure and
ended I'D at the bottom Of The day
range. Indications of an increase OF p
900 900 bushels in the visible supply this
week FASTENED the decline. Deem Der
opened 1-2c lower at 20 1-2c sold sparing
ly a 70 Csc. advanced to 20 $40, declined
to 70 LAC and closed with sellers at
10 1-4q70 3-Sc. Chicago received 154 cars,
two of which graded contract. Mime
apolis and Duluth got $40 cars, compared
with 1900 for the corresponding day last
lear. Total primary receipts were 79S,01O
against 1,433,00O bushels a year ago. Ar
gentine port clearanCeS in wheat and
flour euualled $4,000 bushels. Argentine
shipments to Europe this week were l.
$4,000 bushels, whereas none were ship
ped from that country the same week
last year. Minneapolis stocks increased
this week 100000 bushels and Duluth
$4,000 bushels. Cash demand here was
slow.
Corn was relatively strong and active.
There was a slight dip at the opening in
sympathy with wheat but this was soon
supplanted by q sharp upturn. Poor
husking returns and a steady increase in
local stocks in consequence of the excel
lent shipping demand encouraged general
buying but the weakness of wheat in the
last half hour had an unfavorable effect
and the advance was all lost. Cash de-
mand here was good and 42 boatloads
were sold at the seaboard. Receipts 5l9
cars. December opened a shade lower al
1-2c, declined to 80 SIC advanced to
30 Sac and declined to 90 1-2c at the close.
There was little trading in oats and
what lite fluctuatiOn occurred was due
almost entirely to sympathy with corn.
Receipts 246 cars. December opened Is
lower at % 1-2c advanced to q 5-Sc and
closed at % 1-2G22 5-Sc.
Provisions were tame and featureless,
prices Just about holding their own jan
uary pork and ribs closed a shade lower
at $3.50 and 81. S5d4S7 1-2, respectively.
Janpary lard 1-2c lower at $3.50.
Estimated receipts for Saturday not OBJ
tainable.
GRAIN AND PRODUCE MARKETS.
CHICAGO.
Chicago, Oct. 2o.-The leading futures