The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-11
WHEAT TAXES 4 DROP
0R4oWer Gables and in Sym
pathy With Corn.
CORN LOWERED BY RAINS
Government Crop Report a
Check TO Speculation.

Chicago, July 1o.-Wheat declined to-
with corn. September closing sc under
yesterday. Corn sold of on rains. in the
growing belt and closed s 70 CSC lower
for September. September oats closed
&c lower. Provisions were weak, ia 10
15c to soc down at the close.
All the session the monthly govern
ment crop report, due after the close.
stood as a successful barrier to specu-
latiYe operations in grain IN wheat
htere was the narrowest market In
weeks. September opened a to 11sc IN
DER yesterday az SOS 10 1880, and sold
OF 20 1s5gc soon after. Until the conces-
sion IN price had h=en made, there was
practically no demand. The occasion OF
the shrinkage IN values overnight was
on heavy receipts at Liverpool, which
resulted in a decline Of Is to NC at that
market. Corn was also weak and this
had a depressing effect September re-
covered TO sos dS9Izc later, helped by
big decrease in the worlds visible and
! by a bit better cash demand. Il did not
/ hold i. however, and the close was bare
y steady sc under yesterday, at s01sc.
The trade throughout was mostly nib
bling for small profits by scaIpers. The
worlds visible decreased $4,000 bush
els. Shipping sales here were 5000
bushels and New York reported 20. 90
! bushels taken for export. Cleara
were equal in wheat and -four to Isl. 0G9
bushels. At primary points receipts ag-
gregated $50 coo bushels, compared with
1 $50, go bushels last year. Minneapolis
and Duluth reported 1O4 cars, against e6
/ last week and 657 a year ago IL was
/ figured that report making the total
/ crop over 5o0G61,C00 would be bearish;
/ under that, DuIIish.
/ Corn was moderately active. but nerv-
/ Gus in the face of the approaching gov
/ eminent report. Rains in Kansas and
other parts of the country where the
! big crops come from had cool weather
! and good rains. As the crop expert has
/ been saying sad things would ha1 pen
without the aforementioned moisture,
/ and as the market has been bullish on
/ the dryness, there was naturally q move
4 in the opposite direction today. Tn r.
/ was good cash business, about 9)0O 10
/ bushels. September sold between A and
+31sc, closing 1Aa12sc under yes 5erday,
at 4314c. Receipts were LOIS cars.
Oats were quiet and relatively steadier
htan the other grain markets The gov
! eminent report will probably show some
loss in the northwest. This fact saved
the market from further decline in sym
pathy with corn and wheat There was
/ a fair commission house demand on the
! early break. September sold between
237s and 2414c and closed 14c down, at &c
/ Receipts were $50 cars
Provisions were weak, influenced b.
large hog receipts. easiness at the yards
and the grain weakness. There was coz
I siderable selling by a big local spzcuIa-
/ tor, which aitd in the slumping of
/ September pork sold between S12-S5 and
$3.50 and closed Soc under yeste- d y, a:
50 .5715; September lard between S6.s7
and s5.S5, closing 131sG15c down. at g 8
Gs.S7tz. and September ribs between
s7.0712 and 1875. with the close 15c down
at $685..
Estimated receipts tomorrow: Wheat
! 30 cars; corn, 3S5 cars; oats, 10 cars
hogs, So coo head.
GRAIN AND PRODUCE Markets.
CHICAGO.