The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-26
WHEAT On THE BREAK
Close is 2 Cents Lower Than
That of Saturday,
WILD DAY IN The PIT
Wall Street Support Saved a
Worse Slump.

Chicago, June 25.-Wheat broke nearly
1c today under heavy liquidation. but
-closed steady at a decline OF &c from
Saturdays close. Corn closed 1Q1isc
down, oats 3Lc higher, and provisions
from 171zG2oc reduced in ribs to 321zc
lower for pork.
It was wild day. IN wheat-a battle
between bulls and bears, in which the
latter, for the first time in weeks, scored
victory. July opened at S7A to 861sc,
sold between S812 and S32Ic, closing q
under Saturday, at Sc. There was some
dispute as to what really weEa- the open
ing figures, so many trades took place at
the sound Of the gong. Some made the
initial range from S8c to S612c Certain
it is that all sorts of prices were paid in
q tumble and that two minutes after the
opening July changed hands at SS]2c. In
the field Of news the bulls retained their
old friend, the Northwest crop wreck.
Manitoba had rain, but Minnesota and
the Da-kotas reported dry, scorching
weather-the> kind that burns up vegeta-
ton in short order. One Dakota reporter
had the tenerity to mention tbs appear
ance of fly. What harm the fly would
find left to do was not mentioned. On
the bear side OF the bulletin board was
the Liverpool weakness, in the face of
the 4zsc advance here Saturday, the ex-
cellert conditions prevailing in the
southwest and the heavy words snip
ments, which included 100000 bushels
from Russia. The visible was also on
the bear side of the fence, showing an
increase of coo bushels. The south
west said: "Lcok out for a big move
ment," and declared that harvesting was
progressing In many sections urder the
most favorable circumstances, with
promise Of wheat enough 10 go long
ways toward making I'D the shortage
caused by the northwestern failure. The
items given undoubtedly had some infiu
ence IN the selling. Longs were profit
takers Saturday and they were ready for
more today. The news had the effect OF
broadening them along, and. to a degree,
Of lessening the demand from certain
sections, although the northwest vas
still credited with paying great prices
here to- make up the home shortage.
For a time following the opening The
market held steadily over Sic. The ham,
mering by holders shortly before noon,
however, began TO tell July sagged u
5c and then, all in few minutes, broke
down to S33zc. AT S5c stop-loss orders in
large numbers were reached, for he first
time since the Heceat advance began,
and there was such rush to sell that
between $50 and the bottom there was
scarcely check TO the decline. Sup
port, credited to Wall Street interests,
caught the breaking cereal at 83%c and
hauled IL back toS6c, at which the mar
ket closed. Receipts here were 1871 cars.
10 Of contract grade. Minneapolis and
Duluth reported 4T4 cars. against GAG last
week and 9S1 year ago. Receipts at
primary points aggregated $4,000 bush
ale with I
Clearsnces at the seaboard in wheat and
-four were equal TO $4,000 bushels.
Corn was active. and suffered with
wheat, and was at one time 2lsc lower
than it closed Saturday. 1t recovered
1isc of this loss and closed 1G11sc lower
at 41ec. The range for the day was
between 421Sd421lc and 4o2sc Through
out, wheat furnished the native. Coun-
try offerings were reported larger Longs
some Of the old bull crowd buyers on
the breaks. Receipts here were clio cars. I
Oats alone of the markets on the
board held against the downward press
uTe. With the break in wheat, oats
dropped off, but recovered in good shape
The support came from the northwest in
the shape Of damage claims, accompa-
MED by buying orders. July sold be-
tween 26c and 242tc and closed 14c over
Saturday. at ,z5}4c. Receipts. were Isl
cars.
Provisions were weak under heavy hog
receipts and the wheat decline There
was a fair outside demand, which be-
came effective az The bottom and caused
some recovery. The close, however, was !
rather weak at that July pork sold be-
tween $12.55 and $12.10 and closed 12,4c
under Saturday. at 1929; July lard be- |
tween 500 and s6.s71a. closing 13lkc down |
at s6.S7l4 and July ribs between $7.07Ib /
and s6.s2l5. with the close PIG down, |
At IS 95G76 81.
Estimated receipts tomorrow: Wheat. |
8 cars; corn. 100 cars; oats, 500 cars;
hogs, 5000 head.
GRAIN AND PRODUCE MARKETS.