The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-16
BAD BREAK N WHEAT
September Goes Down ! So
Cent From Monday.
NEWS GENERALLY BEARlSH
Coarse Grains Weak With
Wheat-ProVisions Decline.

Chicago. Aug. 16.-weak cables, absence
Of cash demand ana good spring wheat
crop prospects broke wheat badly today,
sending the September price down 1Nc
from yesterday. while deferred futures
were even weaker. Coarse grains were
weak with wheat, corn declining Nc and
oats y to &c Provisions declined to
TIC
Wheat opened at a sharp decline, Sep
tember at 71h to 1Ac. compared with
yesterdays closing price Of Txc. A fur
ther small decline took place in the next
hour, but selling, though continuous, was
not especially heavy during the morning
and intermittent covering sufficed to
cause number OF small rallies The
main factor was the weakness of Liver
pool. That market not only ignored the
advance here yesterday, but showed an
early decline Of I'D, which was increased
I'D before the day was over. A good many
bad threshing reports were received from
| the northwest, but not withstanding, es-
Inmates on the spring wheat crop put
the total at 1871, co., 900 bushels for the three
| big wheat states. AS the government es-
innate was but 1853 100000 bushels, this
had a good deal of effect. Fine weather
was also reported in the wheat belt, and
| this made sellers of the northwest crowd
| The decline was rendered the more easy
from the fact that during the recent adj
vance shorts had generally covered and
bulls loaded up, and in consequence at
tempts to hquidate were attended with
some difficulty. This fact, however, was
not driven homo on the big holders until
late In the afternoon. The price mean
| while gradually declined to 7OSc Late in
| the session new bear factors presented
themselves In the shape OF a poor cash
demand here, and an equally poor export
demand at the seaboard. The continued
apathy among foreigners Is having more
and more effect on the local market. An
aggressive bear movement was started,
which clipped fractions off the prices rap
idly until 701sc for September had been
reached, when liquidation dropped OF to
considerable extent. Bradstreet's re-
| port showed visible decrease Of 1851
600 bushels, but even these large figures
had little effect. Minneapolis and Du-
| luth reported receipts of 20S cars, COM
pared with 199 last week and 245 a year
ago. Chicago receipts were 50 cars, four
of contract grade. Total primary receipts
amounted to 512.000 bushels, against 655,OOO
bushels. Atlantic port clearances of
wheat and flour amounted to 265, 600 bush
els. There was some selling by room
| traders on expectation of lower cables to-
morrow. September rallied to 70Ac, and
closed with sellers at that figure
Corn showed some steadiness early,
though opening lower with wheat A
pers against sales OF cash for immediate
shipment supported the market. The cash
business was reported around 10000 BUSH
els and the seaboard reported seventy
loads taken for export Crop prospects
were very favorable and cable sbwcr.
The market broke readily when wheat
showed extreme weakness, prices for all
options declining. Receipts were 4S7 cars.
September ranged from 30S to 30Zc, and
closed &c lower at 30iAc.
Oats were dull speculatively, with
narrow range of prices. Prices, In the
main, tended toward a lower level, in
sympathy with other grain markets. Ele-
vator people were sellers. The cash de-
mand was poor Heavy receipts, 657 cars,
had some effect. September ranged from
1870 to 195s@Ac, and closed MGac net
lower. at 191zdl9Ssc.
PROVISIONS were IdlTiy active ana weak.
There was extensive September liquida-
ton, mostly by longs, while October ribs
were sold heavily. The demand was
largely from shorts, and buying from that
class of traders caused some reaction
from the bottom. At the close September
pork was clover al SS.25, September
lard 5d7lkc lower at Sis. and September
ribs ~ cents lower at S4.97is.
Estimated receipts Wednesday: Wheat.
81 cars; corn, $50; oats. 270; hogs, $500
head
BRADSTREETS VISIBLE SUPPLY.
New York. Aug. ESPECIAL cable and
Geographic dispatches to Bradstreet's
show the following changes in available
supplies as compared with last account:
Wheat-United States and Canada east
of the Rockies. decrease $4,000 bushels.
Liverpool Corn Trade News: Afloat for
and in Europe, decrease $4,000. Total
supply, decrease 1,J520O0.
Corn-United States and Canada east
of the Rockies, decrease 1,120.0O0.
Oats-United States and Canada east |
of the Rockies. decrease 3s7. 900.
Among the more important decreases |
reported to Bradstreets not given in the |
official supply statement are those OF !
2iS,000 bushels at Chicago private eleva- !
tors and $4,000 at Burlington. The prin- |
cipal decreases are those OF e65.o00 at Man |
itoba storage points and 63OoO bushels |
at Coteau. Que. The aggregate stocks |
of wheat held at Portland. Ore. and Ia |
coma and Seattle. Wash, decreased 400 |
bushels last week.