The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-07-20
.SHR|NEAGE GOES ON
Wheat Closes at the Foot of a
Cent Decline.
CORN LOSES "a CENT
Oats Half as Neutrality-suspicious.
Unchanged to Lower.

Chicago. July 1s.-values continued t.
shrink on the board Of trade today
| Wheat closed at the bottom Of a 1c de-
Cline; corn lost sc; oats Csc, while pro-
visions closed unchanged to Z 1-2c lower
the latter in pork.
Wheat traders were IN optimistic mood
In regard to the new crop, at the open
Ing Of the market. September opened al
decline of 1-4G3-Sc. with initial trades
at 70 7-Sa1c. A few SIS changed hands
at Il 1-Sc, Immediately after the opening.
This was the highest quotation today.
Perfect weather everywhere in the wheat
belt, primary receipts unprecedented at
this time Of the year, lower cables from
both England and the continent, and the
entire absence of demand for cash wheat.
were few Of the items in the early
batch OF news which brought long wheat
into the market IN great quantities. Puts
at 20 7-sc steaiied the market for a time.
but as soon as buying against these priv
HegcS was over. the decline began afresh
and continued until the closing gong
sounded. Primary receipts amounted to
an even million bushels, against 800
bushels one year ago. Minneapolis and
Duluth received l76 cars. against 60 last
year. Atlantic port clearances amounted
TO 10000 bushels. Local receipts were 12O
cars, against 81 a year ago. September
touched 20 3-SG1-2 about noon. At this
figure, all tho shorts put out in the last
few weeks showed a fine profit and there
was considerable covering. enough TO
rally September to 71c. But the shorts
appeared. to be the only buyers, and the
market fell of its own weight to 70 lie.
and closed at 20 3-sc, a net loss Of 7-sG1c.
Fine weather for growing corn, and lib
eral receipts, were again too much for
corn bulls. and. with a weak wheat mar
ket. the combination in favor of short
sellers could not have beer better. Pri-
mary receipts were $4,000 bushels, COM
pared with 4l4,OOO a year ago. With this
news as starter, September opened 1-sc
lower. at 81 1-2d5-Sc. Many belated longs
threw their holdings into the market and
a steady decline ensued to the close,
which was al 32c, net loss Of 3-4c. Local
receipts were 5Os cars. against 256 a year
{; 20. Export and domestic cash demand
was reported much improved.
Oats followed the other markets, with
out special news affecting the conditions.
The market held remarkably steady
through greater part OF the session.
Just before the close. one of the local
bun leaders became a heavy seller. and
his offerings were not absorbed without
a corresponding decline. Local receipts
were 10 cars. September opened a shade
lower at % 1-Sc, sold at % 1-Sa1-4c. de-
clined to 10 SIC and closed at Is 3-4d7-sc,
a net loss Of Csc.
Provisions opened strong in sympathy
with an advance OF 10GI5c for hogs. Profit
taking soon wiped out these early gains.
ard the market ruled rather heavy until
the close. There was no particular news
to bring about decline other than the
weakness in grain. September pork
opened 5g10c higher at s9.25as.4O, de-
clind to $9.17 and closed at Ss.22 L., a net
loss Of 1-2c. Septefber lard opened SC
higher at $50 IL, declined 10 S5.55 and
closed at $5.57 1-2. September ribs opened
Be- higher at $3.50 IL, declined TO s.. l-2
and closed at SIS. a net loss OF l-2c.
Estimated receipts for Thursday: Wheat
s.; corn $40; oats $50; hogs 5000 head.