The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-27
NREAT REACTS MORE
July Closes 4 Cents Below
Mondays Closing.
BIG INCREASE SOUTHWEST
To This the Added Break Is
Largely Due.

Chicago. June @.-Liquidation by longs
and sIackening of the demand caused
further reaction in wheat today, July
closing cents under yesterday. Corn
closed firm, &c down, and oats steady,
ss91zc depressed. Pork at the close was
&c and lard nc lower Ribs were a
shade higher.
The wheat market might be likened to
a sober second thought" 1t was &C
tive, but not wild, and traders in a more
leisurely manner readjusted, to de-
gree, prices, which broke loose and went
soaring last week. There was no change
in the northwestern situation. The Da-
kotas and Minnesota renewed their pitt
full cries of distress over the ruin Of
their crops, but generally the cries fell
upon deaf ears. On the other hand-and
1t was at this hand" traders looked the
most-was the Liverpool close 31sc under
yesterday and the rosiest kind of reports
from the southwest. Texas, Kansas,
the Indian Territory and Oklahoma, it
was declared, would raise 100,000,000 bush
els more than last year, an amount near
~ If not entirely, sufficient to make up
for the shortage occasioned by the
northwest failure. Harvesting in many
sections is, according to authoritative adj
vices, progressing favorably in many sec
tons Of the southwest, and by next
week should be in full swing. Local
longs pressed heavily on the market at
the opening, which was at S5A to S33zc
for July. The break stirred the. north
west and selling orders from that Sec
ton poured in early, sending July down
to s2Ac within an hour of the opening.
Some Of the important longs were not
sellers, but they were a small minority,
for the crowd, with big profits in view,
was large. Later in the day July re-
covered to S97sc, but it was not because
of any change in the crop situation
merely matter Of a little less pressure
from longs for the moment. The bulge
was lost in short orGer and a probable
kurther decline was checked by the end
ing of the session. The close was at the
bottom, July &c under yesterday, at SIC.
Seaboard clearances in wheat and our
were equal to $4,000 bushels Rece p5s
at primary points aggregated 39St0o
bushels, compared with LOO, 600 bushels
last year. Minneapolis and Duluth re-
ported 19s cars, against gil last we
and 100. a year ago. Receipts here were
143 cars. mono of contract grade. New
York reported no loads taken for ex-
port. There was some cash nbbling
from the seaboard here, but it did not
amount to a demand
Corn broke early with wheat but re-
covered later and the end Of the session
found the market firm. Country offer
ings early were reported fair, which
helped IN the decline but later they
were, as a whole, light. The recovery
was on a large cash business. One COM
mission house disposed Of half a million
bushels, and various people today worked
100000 all told, July sold between 505s
and Az. closing &c under yesterday. at
41ssc. Receipts here were 1,039 cars.
Oats were COMPARE lively quiet. The
market broke early with wheat, but
steadied later in sympathy With corn
and fair commission house demand. in
Gliding northwest orders. Receipts were
ST cars. July sold between 247s and
Z512c. closing asdl5c down at % 7252sc.
Provisions We're steady. in the face Of
lower hogs and the wheat break. There
was 4 demand for ribs from packers
who have recently bsen selling lard. and
this coused a partial recovery from the
opening decline OF 215c in pork July
pork sold between $12. 121R and 81. 80. and
closed &c down at 80 .27I5; July lard be-
tween s6.77h and S6.S75k, closing TIC lower
at $3.50 and July ribs between Ss.95 and
sT.O5. with the close a shade higher, at
81. 97I5
Estimated receipts tomorrow: Wheat.
1o5 cars; corn, 40; oats, $50; hogs, "a 900
head.
GRAIN AND PRODUCE MARKETS