The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-21
WHEAT WEAK ALL DAY
On Russian Rains and Favor
able Domestic Reports.
DECLINE OF / 3-8 CENTS
Corn and Oats ~ Cent. Low
er--PrOvisionS Steady.
DECLINE OF SO CENTS

Chicago, June 2O.-wheat was weak
from start to finish today and closed al
a decline Of Csc from yesterday. LiquI-
| dation Of long wheat was the feature,
able domestic conditions giving holders a
severe attack Of ennui. Coarse grains
and oats 1-2c lower. Provisions closed
unchanged TO I 1-2c lower.
The opening in wheat was q lively one,
and for ar hour the market was as weak
as even the most persistent bear could
desire. September opened at a 3-4q7-sc,
compared with yesterdays closing price
OF % lac. Large quantities OF long wheat
were offered by both local and outside
traders dumping their holdings onto the
market, and when the first lull in the
liquidation occurred the price had been
hammered down TO nc. News was of such
a character as to discourage longs. who
have been banking on the Russian crop
damage toA offset the prospects Of q big
domestic crop. General rains were report
ed in Roumania, and rainfall was also con-
reported from some parts Of the Russian
drought districts, with consequent i'm
provement in crop prospects in those c0un-
tries. Liverpool cables were weak and
lower. At the start there was a DISPOSE
ton among shorts TO cover, but the bear
ishness of domestic advices put a check
TO even this support. Northwest receipts
were heavy, Minneapolis and Duluth re-
porting TO cars, against COL last week and
u a year ago. Chicago receipts were
80 cars. Il of contract quality. Asgre-
gate receipts at primary western points
were $4,000 bushels, compared with l25. 900
a year ago. With the exception of Ne
braska and Kansas, in which states some
hot winds were reported, the weather
throughout the wheat country was re-
ported favorable Shortly before noon the
market recovered a tfhfe In the absence
Of heavy selling pressure September ad-
vancing to Il Csc, but liquidation was re-
newed after noon, and prices got Town
TO a still lower Level. Bradstreets showed
an increase in the visible Of $50 900 bush
els, compared with 2.734O00 bushels de-
crease last year. New York reported a
good export business. 100 loads taken for
export, but the lack Of cash demand here
nulli1ied what effect this might have had
Dunng the last half-hour there was in
creased selling by Disguised longs, Sep
TENDER gradually declining to rs 7-sc under
the pressure. That was the price at the
close.
Corn was fairly active and weak. The
weakness Eas partly with wheat, but
local influences were also present Re-
ceipts were heavy. LOS cars, cables were
lower and weather was favorable Con-
tract stocks decreased $685. 900 bushels
September ranged from "a 1-2d5-s to "a 10
G35c, and closed 1-2c lower at "a 5-sc.
There was a fair trade in oats. The
market felt the weakness Of wheat and
corn, and prices ruled lower all day. clos
ing at the bottom. Fine weather and lib
eral receipts. 80 cars were factors. There
was a good cash demand. $50, ono bushels
being taken for shipment September
ranged from q SAC to 22a1-sc, and closed
1-2c lower at q Sac.
Provisions. considering the weakness In
grain. were fairly steady. especially during
the morning. when heavy meat shipments
and higher hog prices caused good buying
Later the market yielded a little with
grain but the close was steady. Sep:em-
Der pork closed 71-2c lower at aS2 1-2:
September lard unchanged at S5.15SI5.l7 1-2
and September ribs 21-2c over at 81 IS.
Estimated receipts Wednesday: Wheat.
y cars: corn, $40; oats. 135; hogs. s., 90