The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-25
WHEAT CLOSES WEAK
After a Session Notable for
Quick Changes.
DECLINES 3-8a1-2 CENT
Coarse Grains and Provisions
Higher--Advance in FIaxSeed.

Chicago, Aug A-wheat was irregular
today, changing quickly several times
from strong to weak. It was in the lat
ter condition at the close. the decline OF
3-S11-2c showing. 1t was mostly prizes
sional market, news being Of minor i'm
portance. Corn advanced IA for Septem-
Der on the shipping demand but closed
a shade lower 70 December. Oats ad-
vanced 1-Sc. Provisions closed a shade
higher Flaxseed showed another remark
able advance, closing about &c higher for
cash.
The opening in wheat showed no chang
es from yesterdays closing prices in
either September or December and with
little inclination among traders to at
tempt to force the market in either direc-
ton. The preponderance of sentiment IA
vored the buying side at first on account
of an error in the Price Currents crop
estimate. which made the total $4,000. on
the advance Of Lid at Liverpool, and the
continued small receipts. A mild cover
ing movement, mostly by the local shorts.
caused a slight advance In SEP. emoer AMI
a more material gain in December, but
before the first hours trading had ended
the market turned suddenly weak and
dropped with a rapidity that was pain
fully surprising to longs. September OPP
ened at p 1-sdT2 Lie and advanced to
"a 5-sG74 SAC. At these prices selling
movement started that was much too
heavy for the demand. Desire to take
profits was apparently the principal mo-
tive for most of the liquidation but a
great deal Of professional selling was
done when 1t became apparent that the
market was easily Influenced. and this
feature OF the market was taken advan-
tage Of by professional scalpers several
times during the day to hammer down
the price. The result was a decidedly
nervous market for most Of the session,
though trading at no time was really
heavy. Private advices in regard for the
northwest crop conditions were favorable
September declined to II 5-Sc, and Deem
Der to 20 S-4a7S rs. The market was rail-
lied by the reports of a good cash bust
ness but prices were quickly hammered
down again. Northwest receipts were
PSI cars. against 217 last week and 50i
a year ago. Chicago receipts were 640.-
900 bushels, against $1,000 bushels last
year. Atlantic port clearances amounted
to 334 coo bushels. Corrected figures on
the Price Current estimate made the to-
tai wheat crop 100000 more than first
annnnnnad This tina Of
spot when the figures were gisan out.
The market was on the down grade at
the close. September finishing at Il 81
and December at 70 7-sc.
Corn was quiet and irregular. Septem-
Der was strong o. the excellnt shipping
businss, which caused a good deal Of COW
ering by shorts. Shippers were also good
buyers. The most distant features were
firm early. but weakened later with
wheat. September. however, was steady.
Receipts were $50 cars. September ranged
from 81 1-4GS1 3-s to 81 SAC and closed lac
higher at 81 5-Sc. December closed a
shade lower at % 5-sG2S S-4c.
The market for cats was a narrow
and steady one, with prices within a
range of about Lac. The demand was
not especially urgent light offerings hav-
ing more to do with the slight advance
The cash business continued large, about
500 900 bushels for today, and this and
sympathy with corn were the factors.
Receipts were 1852 cars. September rang
ed from zoe to 20 14c and closed 1-ic
higher at 20 1-4c. December closed 1-Sc
higher at 10 S-4T1e 7-sc.
Little was done in provisions and the
market was practically featureless. Pric-
es advanced somewhat shortly after the
opening. with grain. Softness developed
later but in the afternoon the market
firmed up again and closed steady. Trad
ing was mostly local. The cash demand
for meats was only moderate. At the
close September pork was a shade high
er at $s.22 IL: September lard 1-2c high
er at $50 L.: and September ribs 1-2c
higher at Sis.
Estimated receipts for tomorrow:
Wheat 75 cars; corn 500; oats 575; hogs
5000 head
GRAIN AND PRODUCE MARKETS.