The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-17
CORN Is A SUFFERER
September 3 3-8a1-2 Below
Saturdays Close.
WHEAT Is 5-8a3-4 LOWER
On Corn, Gables and Rains
Other Markets Down.

Chicago, July 16.-The corn market suf-
fered Decentralization because of the
breakup of the drouth, September clos
ing 3asqS1zc under Saturday. WHEAT felt
this and weak cables, and closed sage
reduced. Oats closed 1zc down and pro-
visions from ~ to 1Oc lower in lard
to 800 depressed in pork.
Corn at the outset assumed the deci-
dedly weak position which made it the
the day. The opening was at a loss
and early trading damned the prices still
! further down. There was practically one
| factor-rain in generous quantities in the
corn belt, Kansas especially. Message
| after message poured in announcing that
| the drouth had been broken and the crop
left with the brightest prospects There
were rains Sunday and more today.
| Country acceptances were heavy. Local
people got 10000 bushels on bids sent
out last night. September opened rs TO
22sc down, al SAGE, and met practically
no demand until the market had slump
ed to 40S4c. True, there was a reaction
early, September rallying to 42c after de-
Ginning to 413sc, but it did not hold for
any time. Liquidation was general and
the price wobbed wonderfully at times
as holders looked here and there and
everywhere for purchasers. AT the bot
tom tn selling pressure was less vigorous
and shorts took profits. This resulted in
a little recovery, but the close was de-
cidedly weak, September 39s@31zc under
Saturday at 405sd41c. The shipping
business for the Gay was put at 100000
bushels, while New York reported 100
loads, and Philadelphia 10 loads for
export. Receipts were 100 cars Amount
on ocean passage increased 1,32S, 900 bush
els, and the visible showed bulge over
last week of 10000 bushels. Liverpool
closed weak
In wheat it was a case of holders con-
tinuing TO let go while there was a
small short interest to absorb offerings.
The selling encouragement was found ia
the corn weakness, in weak cables from
Liverpool and in rains in the north
west and continued favorable repo. is
from that section of the country. How
ever, reports over northwestern condi-
tons continued to conflict, and many
good authorities predicted a one third
crop for North Dakota New York re-
ported II loads taken for export but the
price was still out of line here. Sep
TEMPER opened &c higher to &c lower
at rs to 773sc, and gradually under the
liQuidating pressure sagged to 76$sc AS
III COIIs lIiSI0 WAS ScILS recovery from
the bottom, but the close was weak,
September 5sdAc under Saturday, at
The Primary receipts were 1,Ol70,O
bushels, compared with 1,133,O00 bushels
last year. Minneapolis and Duluth re-
ported 267 cars, against 1876 last week
and 756 year ago. Receipts here were
los cars, II of contract grade. Clear
ances at the seaboard in wheat and
-four were equal TO 10000 bushels.
Oats acted in sympathy with corn, but
were comparatively steady and rather
quiet. September sold between 2r4c ard
231Ad235sc, closing 1ac lower, at 24c. Re-
ceipts were 1S7 cars.
The provisions market broke with
corn, but rallied a little from the bot
tom and closed steady at a fair decline
from Saturday. September pork sold be-
tween $3.50 and $12.15 and closed soc
under Saturday, at S12. Is; September lard
between $6.8505.S71z and sc. 721R, closing
~ to Ice down, at $780, and September
ribs between 6.9712 and IS. 9212d6.75, with
the close depressed at $3.50.
Estimated receipts tomorrow: Wheat,
225 cars; corn, LOO; oats, BIS; hogs, 1900
head.