The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-07-14
CASH DEMAND ABSENT
With Surprisingly Free Rus
sian Grain Shipments.
WHEAT 3-8 CENT LOWER
Corn and Oats Suffer From
Good Crop Prospects.

Chicago, July 1s.-Absence Of demand
for cash wheat and heavy grain offer
ings from Russia were the principal fac
tors In the decline OF Csc in wheat today.
Corn and oats suffered from good crop
prospects, corn closing S-sc lower AMI oats
1-Sc lower. Heavy realizing IN provisions
caused decline Of 1-2a5c.
Wheat opened weak and lowe at % 1-2
d5-Sc, for September. compared with yes
te.fays closing price Of 70 Use. ;-onsid-
cradle disappointment was SHOWN over
the Indifferent tone Of foreign cables &c
yesterdays advance here. This aai The
&C nunUed large movement of wheat n
the ~ rthwest, seaso pable weather ard
rather bearish summary Of the Price Cur
rent caused considerable liquidation, ard
e further decline to % 1-2c occurred tbs
was around put price. and buying against
rhhsc privileges ar -ested the dAcl:a- News
n i;snrd to the spring wheat crop cauced
considerable apprehension among shorts
Some sections Of the northwest reported
an excess Of rain, others too much heat,
,
doing considerable damage in the wheat
fields. This started a general buying
movement and the highest price Of the day
resulted. September reached "a 1-Sc and
held for some time at about that figure.
The absence Of demand for cash wheat,
unnoticed during the morning, became a
dec.delly weakening feature in the situa-
tion IN the afternoon. Berlin advlces were
tc the effect that Russia was offering rye
and barley heavily for fall shipment. AS
this was contrary TO previous Russian ad-
vices the news was rather discoura gng
to holders and started liquidation which
became heavy toward the close. Septem-
Der gradually declined to 70 1-4d3-sc but
rallied under shorts covering to 20 1-2c,
which was the closing price. Minneapolis
and Duluth received AS cars, compared
with "a the year before. Chicago receipts
were 81 cars. Aggregate receipts at west
ern primary points amounted to $4,000
bushels. compared with 175. COO bushels a
year ago. Seaboard clearances Of wheat
ard faCr were equal TO $4,000 bushels
Germ was moderately active and weak,
followed closely by the fluctuations Of
wheat. There was free selling of elevator
interests and scattered realizing. Weather
was favorable and the receipts continued
large. Local receipts were GA cars. Sep
TENDER ranged, from "a to 81 s-Sd1-2c and
closed 3-SQ1-2c lower at 81
Oats were firm and higher early, good
cash demand sustaining prices. Later the
market weakened somewhat with wheat.
Crop reports were favorable. Local re-
cepts were 211 cars. September ranged
from % S-S to % S-4G7-Sc and closeI 1-sc
lower at 20 1-zc.
Provisions were active and irregular.
The market advanced sharply early on
q good general demand, owing to the
moderate hog receipts and higher yard
prices. Later a heavy realizing movement
carried the prices steadily downward. The
close was steady at slight declines, Sep
tember pork 2 1-2c lower at 500; Septem-
Der lard lie lower at s5.I5, and Septem-
Der ribs &c lower at $50.
Estimated receipts tomorrow: Wheat,
81 cars: corn. 60 cars; oats. 225 cars; hogs,
2i,OO0 head