The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-10
Dull IND DECLINING
Half Cent Clipped Off the
Price of July Wheat.
AVALANCHE OF CROP NEWS
With the Coming Government
Report Hanging Over All.
AVALANCHE OF CROP NEWS

Chicago, June s.-Fear OF bearish gov
eminent crop report was again stone
around the necks Of wheat spectators TO-
day. Their estimates of an enormous
winter and spring wheat yield clipped 1-2c
off July and 1-4q3-Sc off September wheat
during an exceedingly duh session. Corn
and oats were also very dull and declined
about 1-8c each. Provisions closed 2'1-Z
aloe lower.
For a brief period Immediately follow
ing the opening, wheat showed some de-
gree Of steadiness. This was due TO the
Kansas crop reportt m X g 100000 bis
els the maximum possibility % that
states yield and to the continued Russian
damage reports. But the steadinass waa
not of long duration. Opening at "A rs
Q75c, July after few tranactions at those
figures slowly Slid off. There were slight
reactions at times caused by covering by
shorts, but the tendency in the main was
steadily downward, and before the noon
hour the price had touched "A 1-Sc. The
northwest was free seller on the decline.
Besides the natural feeling OF bearishness
caused by the government crop report due
tomorrow, the market was mhcu de-
pressed by Shows crop report, which said
that 100000 bushels was a conservative
estimate Of the probable yield Of winter
and spring wheat this year These fig
ures were far over the average produc-
ton for several years past, and made
the market susceptible TO any selling
pressure. Liberal northwest and local re-
ceipts were a factor. Minneapolis ana
Duluth reported $50 cars, compared with
538 last week and 81 a year ago. Chicago
receipts were So cars, three OF contract
quality. Estimates on the visible supply
were for an increase Of about 1000 bush
els compared with decrease last year Of
300, 900 bushels. This had its effect. Ar
genuine shipments were 1O96.0O0 bushels,
against 264, 900 bushels last year. The sea-
board claimed as high as seventy loads
taken for export. After noon there was
some Improvement. Liquidation was
checked by a number of complaints from
Indian Territory, Kansas and Nebraska
Of too much rain and the market received
substantial support, the first in some time
q
prominent Chicago grain dealer now in
Russia, confirming the worst reports as
to the condition Of the crops of southern
Russia and Roumania. Previous TO this
time the market had declined to 20 7-Sc,
but during the last half hours tradings
a recovery to II 3-S11-2c took place. That
was the price at the close
Corn vas dull and a little lower through
out. Commission houses were moderate
plants of too much rain in the corn belt
had a steadying influence on prices. Cash
demand was rather poor. eceipts were
SCI cars. July ranged from 80 IS to SO IS
a34c and closed 1-Sc lower at SO 9-4c.
Oats were duh and shade lower. Crop
reports we're somewhat builish but SYM
pathy with wheat was shown in the class
Of selling. There was little cash demand.
Receipts were PIG cars. July ranged from
% 1-Sd1-fc TO % 3-S41-2c and closed 1,Sd
lac lower at % 1-4c.
Provisions were practically at a stand
still during most Of the session. There
was some commission house selling Of
pork, and the decline that followed vas
shared in a degree by other products
Packers also sol moderately. Buying
was scatteSel. At the close July pork
was 10c lower at $500 -; July lard sc
lower at S497 - and July ribs 21-2d5c
lower at s4621-2
Estimated receipts for Saturday: Wheat
IS cars; corn 533; oats 80; hogs 1900
head.