The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-25
WEAKNESS N WHEAT
On Bearish Foreign News and
Indifference Outside.
SEPTEMBER 1-2a5-8 DOWN
Coarse Grains Lower; Provis-
ions Unchanged to Lower.

Chicago, July A.-Bearish foreign news
and an apathetic outside attitude were
largely responsible for weakness in
wheat today, September closing 11zG15sc
under yesterday. Corn closed 1d11sc
down. and oats &c depressed. Provis-
ions at the close were unchanged to
sc down.
Wheat had not recovered from the
injection of foreign bearish news when
the market opened today. and Septem-
Der accordingly began the session 3sQkc
to hqhc down, at 763sc to 7614c. The
crowd figured that with little export bus
mess here, probable large southwest re-
ceipts and the increased Russian and
Danubian shipments announced yester-
day, wheat was not worth prevailing
prices. Following this market. on COW
ering by shorts for profits and a little
scattered buying, rallied to 764c. The
bulge held about like small boy hang
ing to the tail of a CREASED pig on the
Fourth of July. 1t slid off with the
greatest ease, helped by a decline at
Paris. reports that France would raise
wheat enough for her own consumption
and that Russia had a large supply of
hold-oVer wheat, and by lack of outside
support. September early declined to
75&sc. rallied to 761s976Ac, lost its hold
again, and then, on Bradstreet's an
nouncement that the worlds visible had
decreased 100000 bushels, recovered to
1880. This bulge, like the others, was
lost and the close found the market at
ats weakest September 112q15sc unde
yesterday, at 65Ac. Winter wheat points
vr-h fhnr, 10 =
last year413,O00 bushels, against 435,0O0
a year ago. These figures were infiuen-
tial in the second recovery-from 1875 to
751sG7514c. New York reported 40 loads
taken FOR export, and cash sales were
put at $1,000 bushels. Clearances at the
seaboard in wheat and flour were equal
to $4,000 bushels. Primary receipts ag-
gregated $4,000 bushels, against $4,000
bushels the corresponding day of las
year. Minneapolis and Duluth reported
226 cars, compared with 203 last week and
2S2 a year ago. Local receipts were 291
cars, &c Of contract grade
Corn was quiet and lower early, but
steadied after a good concession in
prices. There were heavy rains in the
best growing states. 1t was said that
the precipitation was so heavy that any
body who wanted to talk dry weather
damage during the season would need
a Harveyized steel nerve. Another en-
coura cement to sellers was the export
demand, which has been excellent, show
ing signs of exhaustion. Some exporters
were credited with re-selling here. The
price stiffened over l cent early and
thereafter fuctuation was narrow-not
much pressure either way. September
sold between 39c and 3Sc and clos l
@11sc down, at 3S12c. Receipts were 6S3
cars.
Oats were relatively firm, supported by
the Iowa report that oats in shock and
in stack had suffered from the incessant
rains. The Northwest was a moderate
seller, while there was some good local
support. September sold between 23A0
233sc and 23d231sc. closing 14c down, at
231Ec Receipts were 1877 cars.
Compared with the grains, provisions
were firm, easing but little in sympathy
with the grain weakness. The market
felt the sustaining influence of light hog
receipts and liberal shipments of pro-
duce. Trade was quiet. September pork
sold between $12 and &1.S712 and closed
unchanged at 2.9215; September lard be-
tween s6.7715 and s6.S715, closing sc lower,
at s6.T715. and September ribs between
81. 90 and s6.97l5, with the close PFC de-
pressed, at S6.95.
Estimated receipts tomorrow: Wheat,
$50 cars; corn, 30; cats, 752; hogs, $500
head.