The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-10-22
DOWN BELOW SEVENTY
For December Yesterdays
Record on Wheat.
STATUS QUO PRESERSTED
As to Increasing Stocks and
Slack Foreign Demand.

Chicago, Oct. 21.-Wheat got below the
10 mark for December today, establish
ing new low record for this option
Liquidation, induced by steadily increas-
ing stocks in connection with an apa-
thetic foreign demand, caused the re-
duction in price December closed with
loss of ssQ1zc, at G97sc. Corn and oats
were relatively strong and closed a shade
higher. Provisions ruled steady and
closed a trif1e up all around.
Wheat opened weak and for the first
two hours cultivated further heaviness.
Lower cables and indications of a heavy
increase in the visible supply discouraged
longs, who began to unload freely from
the start. The market showed consider
able stubbornness, however, yielding
grudgingly, and finally, when the price
got fraction below zoe, the buying be-
came so pronounced that a sharp upturn
followed, the opening loss being fully re-
gained. But the Improvement was only
temporary, as the bulls lost confidence,
owing to a flood of bearish statistics
Then liquidation and short selling began
to weigh the market down again, and the
market continued to slump until the end,
closing weak at the bottom OF the days
range. December opened &c lower at
T0d7o1sc, declined to $3.50, rose quickly
to 701zc and declined again to 697sc at the
close. Chicago receipts were 1874 cars, 4
of which graded contract. Minneapolis
and Duluth got rs cars, compared with
$50 for the corresponding day a year ago.
Worlds shipments to Europe during the
week were established at GOO bushels,
nearly a million bushels in excess of the
weekly requirements. Indications from
stock-taking centers were that Me VS.
ible would increase over 100000 during
the week, while the amount on ocean
passage showed a liberal increase. Ship:
pers spoke very discouragingly of the
prospects for export business, claiming
that foreign bids were farther from the
market than ever today. New York re-
ported but % boat-loads for export. At
lantic ports clearances in wheat and -four
equalled 10000 bushels.
Bullish country advices, moderate re-
ceipts and an excellent cash demand
strengthened corn. There was soft
spot early owing to the slump in wheat.
but as the session progressed the mar
ket became broad with buying general
and a substantial gain was established
Part of this was lost, however near the
close on profit-taking. r ceipts, 473 cars.
December opened a shade lower at 302sG.
901ac, sold sparingly at 303sc, advanced TO
90a4 @30Bc, and declined to SO1HG3O9sc at
the close.
There was very little speculation in
oats, the markets holding steady with
corn. Shipping demand fair. Receipts,
254 cars. December opened a shade lower
at 221zc and advanced to 225sc at the
close.
Provisions ruled steady, with prices up
a trifle all around, owing to the strength
in corn. Packers bought freely Of pork
and lard. January pork closed cents
higher, at 1875, January lard 21s cents
higher at $5.3215, and January ribs 21sd
cents higher at 81
Estimated receipts for Monday: Wheat,
1872 cars; corn. AGO; oats, $40, and hogs
IS 900 head.