The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-08-03
DECLINE OF \ GEM
Big Batch of Bearish Items
Strikes Wheat.
DITTO IN THE CORN PIT
1t Loses So; Oats 1-8; Pro-
visions Mixed.

Chicago, Aug. "A decline Of cent
! Support was Withdrawn from the mar
ket, more favorable crop reports. dis
appointing cables and liberal receipts at
primary points dampening the enthu-
siasm of traders. Corn was also weak
on favorable crop news and declined sc.
Oats closed 1sc lower. Provisions were
irregular, lard declining 212c, while pork
advanced 1212c and ribs 212 TO sc.
Wheat opened with a material decline,
initial trading in the September option
ranging from 7554 to 751zc, compared with
! yesterdays closing price Of I54Q I51Sc
Liverpool cables, showing little or no ad-
vance at that market, were disappOint-
ing to local traders. In addition 10 this
crop reports Were more cheerful in tone
and weather conditions were ideal for
harvesting operations Liberal Ieceip-s
at primary points added 10 the depres-
sion. Yesterdays buyers were promin MT
in the early selling, which, how ever,
soon ceased. The local demand improved
enough at the decline to impart some
temporary hrmness 10 the market, Sep
TENDER advancing to 1850, bur when clos
cline of Is to I'D, the market again turn
} ed weak and from that time until the
close OF the session the tendency was
downward. although scalping operations,
which made up the bulk Of the trading,
resulted in several unimp0rtant rallies.
There was but little demand for wheat
until September had declined to point
below zoe, when the market again re-
gained support, but not enough to cause
any substantial improvement, although
the market became fairly steady toward
the close. September gradually dec ined
to 74$zc, and was quoted at 7424G747sc at
the close. Northwestern receipts were
235 cars, against 235 last week and 229 a
year ago. Chicago receipts were 255 cars,
~ of contract grade. Total primary re-
ceipts were $4,000 bushels, compared
with $4,000 bushels a year ago. Atlantic
port clearanceS were large, 641,000 bush
els. A good demand was reported as
high as 100000 bushels. An increase Of
about 100000 bushels was looked for in
the visible.
Corn was weak ard lower all day, and
very dull. There was some sympathy
with the wheat decline, but Independent
of this, weakness was caused by the ex-
tremely favorable crop reports and corn
ripening weather. Shipping business was
Longs were sellers of futures. Local re-
ceipts were 2S1 cars. September ranged
from 3714 to $50, and closed CSC lower,
at 3711c.
Oats were dull and a trihe easier,
though the decline was small in view
of the weakness of other grains. The
cash demand continued to show improve
ment and this had a tendency to steady
the speculative market. Country offer
ings, however, were liberal, and eleva-
tor people were sellers. Shippers were
the best buyers. RECEIPTS were SIC cars.
SEPTEMBER ranged from 2l1S to 213sc, and
closed &c lower, at 211sc.
Provisions were fairly active and ir-
regular. Early in the day the market
declined all around, there being some dis
appointment over the small decrease in
stocks Weaker hog prices also had
some influence. Later quite an active
shipping demand for pork sent the price
of that commodity UP sharply, and other
meats followed, though lard did not en-
tirely recover. The close was steady,
September pork PIC higher at 1920:
September lard PIC lower at s.. S715I6 go,
and September ribs 2l2 to &c higher at
$7.I7A
Estimated receipts Friday: Wheat. go
cars; corn, $50; oats, $50; boss, 1900
head.
GRAIN AND PRODUCE MARKETS.
CHICAGO.
Chicago, Aug 2.-The leading futures
ranged as follows;