The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-08-06
SHARPDECLINE|
IN ALL GRAINS
Wheat Depressed By Perfect
Harvesting Weather.
DROPS TO LOWEST PRICE
Provisions the Only Item That
Redeemed Market.

( Chicago. August 5.-Grains were heavy
today and prices declined sharply. Sep
TENDER wheat was depressed By almost
perfect harvesting weather in the spring
wheat country am by yery heavy re-
ceipts, dropped TO the lowest price 50
far this season. Corn also ruled very
weak or heavy selling. Notwithstanding
receipts were falling of greatly. At the
close Of trade, September wheat had lost
sq7rc; corn laa4sc and oats 1.q@sc.
Provisions closed nc TO 121zc higher.
Wheat momentarily showed q good
front at the opening OF trade. Gables
were firm, grading was very poor and
there were rains in the western states
and IN the Ohio valley. September started
1sc up to &c down at 70c TO 6s44c and sold
al 701sc. Soon, however. the perfect
weather northwest began to have a de-
cidedly bearish effect on the crowd he
ceipts here and southwest were large and
at primary points totaled much above
last year This started free selling ana
September dropped 10 the now level for
the crop-6sc. Bradstreet reported de-
crease OF 2,l52. 900 bushels in the worlo
visible supply and the seaboard cleared
equivalent 10 756, coo bushels in wheat and
-four These factors had 4 checking in
fuence on the decline, but the close was
weak and heavy, September zd7se down
a. s9lsc. The seaboard did a fair bust
ness. The olume OF trade here was not
large and was mostly OF a professional
character. Local receipts were $40 cars.
s of contract grade; Minneapolis and Du-
luth reported 17s cars. making a total for
the three points OF 719 cars. against 7SS
last week and $50 a year ago. Primary
receipts were $4,000 bushels against
sol 900 last year. The seaboard reported
thirty loads taken for export.
Corn receipts here today were 50 cars
and estimated for tomorrow but . cars.
For a moment prices IN this pit edged
above the close of yesterday. utb bullish
statistics could not overcome the de-
cidedly bearish sentiment OF the crowd
Heavy selling OF September shortly after
the opening caused the slump. Offerings
came out abundantly and there was no
had dropped from size 70 55ssc. The
big interest identified with the free sell
ing OF the last several days were in the
Pit selling. In the absence of anything
that resent led support. no one wanted
the corn. Stop los sorders came out and
helped in the decline. Liverpool was
strong and as much as &c higher. but ex-
erted no influence. At the bottom there
was some buying by commission houses
and by shorts who covered. This brought
a slight rally, but September closed very
weak Izsall4c down at 557sc. The weather
y est, while rainy. was considered favor
able TO the growth OF corn.
oats held UP well against the depres-
sion Of the other grains. There was a
dip early and again late. influenced by
liberal receipts and the corn break. but
the weather was against the oats harvest
and reduced estimates Of arrivals check
ed any sympathetic declines of moment
The cash demand also was fair. Septem-
Der sold from S15gss TO 3lz.c and closed
easy 1aa2sc down at 9I7sG32c. Receipts
ere 3l6 cars.
Provisions were quiet, but somewhat
Irregular Hoss al the yards were weaker
for poor grades and higher for the best
Early liquidation depressed products but
sood Milwaukee support brought a
brace in the market and everything adj
vanced. September pork closed PIC up
az Si6S5; September lard 21zc higher at
sio-S5. and September ribs 7lac up at s1.47l5.
Estimated receipts for tomorrow.
Wheat. $50 cars; corn. Is cars; oats. So
cars. hogs, 2l.o00 head