The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-15
WHEAT WEAK AL DAY
Closes at a Decline of
| 1-4a3-8 Cent
NORTHWEST NEWS BETTER
Corn Strong and Higher on
DrOuths Southwest.

Chicago, July 14.-Wheat was weak
from start to finish today and closed at
decline of 114G1asc. This makes over
&c decline in three days. The marked
Improvement in crop conditions in the
northwest has kept prices on the down
grade. Corn was strong on the continued
southwest drouth, and closed 15c higher.
Oats advanced 1sc and provisions de-
clined 5Q7lzc,
Within ten minutes after trading had
started in the wheat pit, the price Of
September had been forced TO a point
over a cent below yesterdays closing
figures. September opened unchangd 70
1sc lower, at 7Sg7914c and under selling
orders from al over the floor the price
was steadily pounded down until 1t had
touched 777sc The principal, IN fact, al
most the only, factor IN the rapid de-
cline was the improved condition in the
northwest. Rains and cooler weather in
the Dakotas and Minnesota were report
ed to have greatly improved the condi-
ton of wheat, and the Minneapolis Jour
naPs estimate of a crop for those three
states of from 135,0O0,o.o to 1000, 90
bushels was given a great deal of Gre
dence by Disguised holders of wheat, WHO
unloaded as fast as they could. At 713sc
the demand, which up to this time had
been slack, improved, the northwest
sending in good buying orders, while 10
cal shorts covered quite freely for
time. But in the last TWO hours of the
short session the market again became
extremely dull and weak. With the
stoppage of the demand, prices again
slid off very quickly, and shortly before
the close the lowest prices Of the day
were reached, September selling down to
77&G77sc. The final quotation for that
option was 71sBc. A good nay stop or
ders were received during the final de-
cline. Chicago receipts were S. cars, IS
OF contract grade. Minneapolis and Du-
lush receipts were Al cars, against 1S7
last week, ard GIL a year ago. Total
primary receipts amounted to $500
bushels, against $4,000 bushels a year
as0. New York reported five loads IA
ken for export.
Corn was quite strong all day. The
drought still continued in Kansas and
Nebraska, and damage in some sections
vas reported as serious Sep TENDER at
one time showed an advance of cent,
but during the last hour of trading the
demand was somewhat Influenced by the
weakness Of wheat, and prices did not
hold. A good deal of long corn was sold
on the cary bulge. Receipts were $50
cars. September ranged from HS4 G447sc
to 441sc, and closed re higher, at 442sc.
The market for oats was firm, but
featureless. Trading was Of only mod
crate proportions, with the price appar-
emily controlled entirely by corn. Crop
reports were rather unfavoable. Re
ceipts were 165 cars. September ranged
from 24ssd2434c to 24ssQ241ac, and closed
&c higher, at 2416c.
Little was done in provisions. Lower
hog prices and the weakness of wheat
had some effect on prices, which yielded
slightly early in the session. At the de-
cline the market became steady and held
so for the remainder Of the session Sep
TENDER pork closed nc lower. at SO So;
September lard sc lower. at Sc S715lT6. 30,
and September ribs sc lower, al $685.
Estimated receipts Monday: Wheat. %
cars; corn, GAO cars; oats, 225 cars; hogs,
$4,000 head.