The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-06
COARSE GRAINS WEAK
Particularly Corn on the Kan
sas Crop Report
WITH ITSCONDITION OF 100
And Estimated Yield of 400,
100000 Bushels.
lTSCONDITION OF 100

Chicago. Aug. k-DuIl and irregular
markets prevailed on the board Of trade
today. Weakness Of corn and favorable
crop conditions were features in a decline
| of 14G3-sc in wheat Coarse grains
showed the most weakness in new cror
features. December corn closing 1-4d3-SC
lower, September losing only a shade
September oats closed shade higher
and December 1-sc bower. Provisions de-
clined 1-2a12 1-2c.
Opening trades in wheat, both for De-
cember and September, were at slight
declines from yesterdays prices. Septem-
Der starting 1-sa14c lower at So S-Sd
50 lac, and in the course Of the next half
hour trading the price took a further
drop to So lac. English markets were
closed and domestic news was more or
less colorless as rule and the interest
in trading was small even at the open
ing. Sellers were in the majority, how
ever. The weather in the northwest was
favorable for harvesting operations, and
the Kansas state crop report predicted
large crops of both wheat and corn, the
condition of the latter being put at 100.
This developed weakness in corn and the
narrow wheat market sympathized to
some extent with the drop In the coarser
grains. There was some selling by yes
ter6ay's buyers also on the favorable
northwest crop conditions. A feature
which encouraged the bulls was the con-
tinued small proportion OF new wheat ar
rivals and the falling IN receipts in the
northwest Minneapolis and Duluth re-
ceived 240 cars. against S44 last week and
IS a year ago. Chicago receipts were &c
cars. IL Of contract grade. Total receipts
at primary points were s75,O0o bushels.
A moderate covering movement started
at the decline to So lac. Some buying
was also done against weekly puts. and
by II o'clock the September price had
recovered TO 50 SIC. The demand was bet
ter for the deferred futures than for
September. considerable changing being
done from September to December. but
in the last hour of the session, interest
almost died out and prices dropped all
around. Atlantic port clearances equaled
4sS.Oo0 bushels. There was some demand
for export, but little in that line was
done September gradually eased off to
50 1-49e9 $50, and was bringing that price
at the close.
Corn was weak, though only moderate
ly active. There was general selling
early on much needed rains in the corn
states and the Kansas August crop re-
port, which estimated the yield at 900 =
1900 bushels for the state. The good
shipping demand supported the market.
Receipts were S4l cars. Selling of the
new crop futures. December and May.
was much heavier than of September.
and those months were correspondingiy
weak. September ranged from 80 3-s 10
80 5-Sc, and closed a shade lower at
81 5-sc. December and May closed about
Csc lower.
Oats were dull and fairly steady.
Weakness of wheat and corn was offset
by the rains in the west, which were
expected to curtail the movement. Re-
ceipts were 355 cars. The cash demand
was light. Deferred futures showed the
most weakness. September ranged from
70 1-4d19 S-Sc to 10 1-2dls 5-sc. and closed
a shade higher at 10 1-2d19 5-Sc. Deem
Der and May closed 1-sc lower.
Provisions were heavy and closed at
sharp declines. Hog prices were lower.
and this and the weakness of corn caus-
ed liquidation by recent buyers. Pack
ers were free sellers. an additional source
OF weakness. At the close September
pork was II 1-2c lower at $50. Septem-
Der lard 1-2c lower at $5.37 1-2. and Sep
tember ribs 10c lower at 500 1-2.
Estimated receipts Monday: Wheat,
125 cars: corn. 40 cars; oats, $50 cars;
hogs, 1900 head.
GRAIN AND PRODUCE MARKETS.