The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-26
TAILERS GOT
WORST OF IT
Support Was WITHDRAWN
From an Early Strong Market
AND WEAKNESS ENSUED
Wheat, SAC Down; July Corn,
5-8c Up; Oats, Higher.

Chicago, june 25.-"Tailers" in wheat
were punished today After early strong
prices support was Withdrawn from
wheat and weakness ensued. Just the
opposite occurred in corn; shorts were
banded about by the bun manipulators
until they covered. then the price was
allowed to slip bacq. Under these mixed
conditions July wheat closed &c lower;
July corn CSC ups September corn a
shade down. and July oats sc higher.
Provisions were hard pressed and closed
10 to 2oc lower. Wheat showed strength
the first hour. The opening was a trifie
weak on lower cables and fairly good
weather. map. There soon arrived. how
ever, a batch Of bullish reports Of bad
threshing returns, little shipment from
Oklahoma, KaKnsas, Indiana and Hi
nois because of doubt as to grading and
promises OF more wet weather. Ele-
vators bought for a short time and July
wheat, which opened unchanged to &c
lower, at 74AQ741lc, advanced TO 7411c.
Yesterday it was known that the short
interest was pretty well eliminated. Such
a condition favored a collapse, owing
10 the absence of any interest to sup
port the market on dips. This break
came today when the elevator interests
stopped supporting and liberal selling
was INDUCED In. Longs who had
tailed after the big bulls scurried to
secure paper profits or to prevent actual
loss. Both July and September options
were sold freely.
Seaboard clearances in wheat and -four
equalled 81, 600 bushels. The seaboard
reporter seven loads taken for export
Corn had good jump at the opening,
induced by higher cables and cold, wet
weather In the growing corn. Shorts
covered and the country bought Iiber-
ally. Selling that has been going on for
some weeks in September and which has
been thought to be for the provision
crowd was said today to be for the big
bull interests. This Influenced a mixed
feeling in the pit. July was pushed up
to the high price of 6ec. which was
reached during last weeks excitement
Shorts were punished TO some extent
and then the market was allowed to slip
back. uly held much OF its advance,
but the selling on the bulge In September
brought an easier close in that deliv-
cry, July sold between 6S1sc and 6sc
and closed sc up. at 6SIAc Septem-
Der closed a shade down, at 615sc Re
ceopts We're smaller. at 154 cars.
Oats had a good advance early on
buying orders in the hands OF all COM
mission houses. The weather did not
help the crop any and oats continued
in their good demand until No. white
sold today at 5id1zc. little profit
taking on the bulge brought recessions.
but July. after selling at 1925. closed
firm sc up. at 42ikc. The weakness in
wheat and provisions had no influence.
Receipts, 12o cars.
1t suited the packers again today to
unload some of their burden on the out
siders. Hogs, although touching $795.
were generally weaker. This caused gen.
eral liquidation most of the day At
times brokers bought in to steady the
decline. General selling of ribs how
ever, produced a weak close. July pork
sold between s1S.s2l1 and Nsl21z and
closed 1711c lower. at slS22h Septem-
Der pork sold from 1855 down 10 1855
and closed zoe down, at S1s471z. Juiv
lard closed 1ec lower, at sl057l2 and
September ribs 15Gl171zc down, at slOeeG !
sloe2ls.
Estimated receipts tomorrow: Wheat |
p cars; corn. lis cars; hogs, IS. 600 head. |
GRAIN AND PRODUCE MARKETS. |
Chicago.
:. Chicago. July 25--The leading futures
a