The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-05-23
WHEAT STILL
GOING DOWN
New Level Is Reached Under
Weather Conditions.
CORN CLOSES LOWER
Oats Rule Fairly Active and
Close Higher.

Chicago, May 2-Wheat worked down
TO a new level today. bur there was not
enough activity in any Of the markets
TO make the lower prices attractive and
although a generally Oppressive influence
corn steadied prices July wheat closed
&c lower; July corn sc lower and July
oats SAKE higher; provisions closed ~
CSC 10 5g1zc higher.
Weather OF the same favorable charac-
ter for al crops that has prevailed al
most unintegruptedly since the opening
Of spring dominated the wheat market
1T the opening Cables were lower. the
early export demand was slow and con
ditions began 70 favor seeding in the
northwest Receipts were stiu light. bur
there was argument TO the effect that
last years big movement was a result OF
sweeping bins clean ali over the country
in anticipation OF last years big crop
and that this years receipts would nat
urally total much less. Further, the
small receipts bull argument has been 2
losing one Tor nine days-that IS ever
since July touched 7s1zc. For this reason
longs had plenty Of stun for sale as q
result. July started out weak and at
once grew weaker, opening hGEc lower
Al 74isd74c and dropping 10 75ssc Reports
from the fields stated that crops were il
very good condition but heading low in
some cases After the early decline the
pit ruled very dull Stop loss orders had
come out freely al &c. Later as Kansas
reported poor prospects in spite OF the
recent generous rains and as cash houses
told OF good business at lower figures the
short crowd covered and prices rallied
somewhat. July closed weak. &c lower
at &c. Receipts Is cars; Minneapolis and
Duluth reported los a total for the three
points of l23 against 1es last week and
236 a year ago. Primary receipts were
215.000 bushels compared 70 2eo.o00 last
year. Seoboard clearances equalled only
2s5, 600 bushels. Late the seaboard report
ed IS loads taken for export.
Corn trade was uninteresting save that
prices held very steady all day. All other
conditions favored lower prices-country
offerings were larger. Seaboard clear
ances small and crop prospects were fine
but receipts were small. There was
very little demand and trade hung idly.
but holders were but little inclined TO let
20 OF their stuff. Gables were indiGer-
ent. Commission houses sold sparingly
and prices eased with wheat, but in the
main the market was well held. July sold
as low a. 6f7sc and closed a trife easy, &c
lower al s2G62Isc. Receipts were 81 cars.
Oats ruled fairly active and strong
There was some good May buying By the
big bun interest and although there was
an early east tendency the crowd was
uneasy over the possibility OF a squeeze
in the current option. Cash business was
good and there was some news OF damage
10 the growing plant. July sold early at
357sc. but reacted and closed firm, 1is0
&c up at 37ssc- Receipts 1SS cars
Professions were irregular and some
what active. Early the market was strong
in the face Of weak hog market and tho
declines in the grains Offerings were |
fairly liberal but when the pit began to |
weaken packers jumped into the support |
and took everything in sight Shorts COW |
cred cash meats had a good trade ard !
prices rallied we'll July pork closed 80 /
nc up at sl7.12iial7.l5; July lard, 2i5G5c /
higher al so17izQl0.20 and July ribs &c
Ip at 80 6eszds.s5.
Estimated receipts tomorrow: Wheat |
p cars: corn. 50 cars; oats 10 cars; hogs
% Geo head.