The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-12-18
CORN GOES
TO SMASH
December Option TumbIes
Down Five Cents.
ST. LOUIS CORNER BROKEN
Receipts and Favorable
Weather are the Causes.
ST. LOUIS CORNER BROKEN

Chicago, Dec 1.-THE corn pit was the
center OF attraction today on the board
Of trade. the heavy liquidation Of the De
cember option causing a loss Of 5lsc in
that delivery al the close Nay closed
shade higher with May wheat also up
a fraction. but oats were lsc lower
January provisions closed from a shade
TO Zoe lower
There was considerable excitement in
the corn PIT due 10 the action of Deem
Der delivery, which suffered q severe set
BAG kowins 10 continued heavy Hguida-
tion with practically no support As
result OF the downward plunge in prices
the attempted corner Of the December
/ option which had been engineered By
s.. Louis Clique, went completely 10
pieces judging from the way the long
corn came OCT with apparently no effort
on me part Of the pool 10 support the
market Large quantities Of December
corn, L was said. were sold out in the
II the Pr for the account of whom il
may concern and the sl1ppositIon was
shat those who had been endeavoring 10
bun the market had failed T. respond TO
Gals Tor margins Liberal receipts and
favorable weather were responsible large
y Tor the anxiety Of longs 20 dispose Of
their holdings. December opened =. TO &c
lower Al 3 to 52zac. and declined gradi1-
Any with now and then slight rally
until 4Ilsc was touched. 4 little better
support developed at the bottom bur the
close was 53zc lower al 47-2c. May was
Gull and fe2tureless bur held nrm in
spite or the depressing influence of the
December delivery. closing a shade higher
az 439sc. after ranging between 43l4c and
go Local receipts were 20 cars. with
FOUR Of contract grade
" heat ruled dun and weak the fav-
orah.e weather throughout the north
west causing longs 10 unload freely and
this together with selling on short ac-
eorats. vas the main factor in bringing
out the easier feeling. The sharp break
~ December corn affected wheat as did
also me foreign news which was a tri7e
oesrish the large stocks reported at Rus
sian ports being taken a. am indication
that the government report Of a large
yield IL thar country was entirely cor
rect There was little better demand
toward the close. which was about
steady May being shade higher al --1.c
after selling between 7sszdS.c and 7-ssc.
peceAlber closed &c lower at 74ssc.
tlearanees Of wheat and -four were equal
10 l32 DC bushels Primary receipts were
t6-,t@ bushels. against 1900 bushels a
yea rage Minneapolis and Duluth re-
ported receipts Of 2s2 cars which with
local receipts of s cars. none of contract
grade made total receipts for the three
points Of 80 cars against 6s3 cars last
week and go q year ago.
Oats were dun and featureless and the
market was little easier on realizing in
May. fair demand from commission
houses helped to maintain prices and pre-
vented any severe break. The cash situ-
alton was not as favorable as OF late.
Nay closed 1se lower at 32Hc. after rang
i4is between 321z@ssc and 227sc Local re-
ceipts were 207 cars.
Provisions were extremely dun and in
spite Of strong hog market. prices de-
cuned throughout the day and the close
vas ar lower level January pork
closed loc lower at sl65714; lard was a
shade lower ar g. 1oas 72la and ribs were
OF 2izc. closing at ss.371..
Estimated receipts tomorrow. Wheat. +
A. cars; corn, 90 cars, oats. 1s5 cars:
hogs. 37.0o9 head