The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-09
At 4 NEN. LOW LEVEL
Weak Cash Situation and a
Foreign Drop
Do THEIR WORK IN WHEAT
Corn Slightly Higher.-Sharp
Decline In Provisions.

Chicago. Aug. S-The weak cash situa-
ton and a sharp drop In foreign markets
pushed wheat to a new level today. Sep
TENDER closin weak at 3-S O 1-2c decline
from yesterday. Corn was steadie1 by
god shipping inquiry and closed slightly
higher Oats closed irregular. shade
lower to 1-sc higher. Provisions declined
sharply, closing IL q II 1-2c lower.
Opening prices for September wheat a
decline Of Is q Lac from yesterday. Sep
TENDER starting at So 3-4 q 7-Sc. And that
proved to be the high point Of the day. In
terest in the market, which has been slack
for several days, was II possible even dull
Ie- than yesterday and the market for the
greater part Of the session kept within q
range Of Csc. The weakness at the start
was due to a decline at Liverpool OF 1-Sd
since Friday. This was double the de-
cline in the local market since that day,
and, coupled with the continued absence
Of foreign inquiry for American wheat.
kept prices on the down grade during
most Of the day. 1t was apparently the
prevailing opinion that It was a hopeless
task to attempt to bull the market while
there Is SO little demand for wheat abroad
and what little buying was done, was
against puts, to which price (6s 1-2 a IS
5-sc) the market declined shortly after the
opening. There was scattered selling by
the northwest and by local commission
houses but outside interest was slack.
September longs were inclined to trans
fer their deals from that month to De-
cember. and buying of the latter against
sales Of September had tendency to Wild
en- the spread between those months, to
the advantage of the carriers. Broom
dicated a large increase, and was a bear
ish feature of the mornings trading.
Bradstreets figures, however, showed a
decrease Of 1,267OOO bushels and for a
time this steadied the market, causing a
rally in September, witch had In the mean
time declined to 3-Sc, to about IS 5-S q s.
3-4c, but no substantial support was forth
coming and prices soon sagged again.
New York reported export sales of 10
boatloads. Not bushel was placed from
here. Northwest receipts were 1873 cars,
against 296 last week and 40 a year ago.
Chicago receipts were 116 cars, Il Of con-
tract grade. Atlantic port clearances
amounted to $4,000 bushels. A slightly
better feeling developed near the close.
shorts being fair buyers at the bottom.
and the markets rallied slightly, closing
at IS 1-2 a So 5-sc.
Corn was fully as 6ull as wheat, but
much steadier. The market was weak at
the start, partly in sympathy with wheat,
and on the favorable crop conSitions, but
the strong cash situation SUSTAINED prices
There was vigorous selling of September
at times and the more distant futures
showed the most strength. Receipts were
liberal 562 cars, but indications were for
a lighter movement, as country accept
ance have been light for sometime. Sep
tember ranged from 80 1-2 to 80 "a a 30
Use. and closed a shade at 30 SAC.
Oats were dull and irregular. The fea-
ture of trading was the demand for May,
which was sharp enough to result in a
1-Sc advance in that option The cash de-
AAdiO was CASSliChbB 4CotvVV buSiCiS DGLIB
worked here. Receipts were large. 53S
cars. September showed some sympathe-
tic weakness with wheat 1t ranged from
10 3-S a % 1-2 to 10 5-Sc, and closed a shade
lower at 10 1-2 q 10 5-Sc.
Provisions were heavy throughout the
session. Packers were free sellers, ap-
parently on the belle: in a freer hog move
ment, and substantial support was lack
ing. The market tended steadily down.
ward, and was decidedly weak at the
close At the close September pork was
u 1-2c lower at s.. &c. September lard 1oc
lower at s527 1-2 and September ribs 1-2c
lower at $5.O2 L.
Estimated receipts for Wednesday:
Wheat 81: corn go: oats go cars; hogs
1900 head
GRAIN AND PRODUCE MARKETS.