The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-05-03
KANSAS RAN NEWS
Causes a Drop in the Price of
Wheat.
SERIOUS SLUMP IN CORN
Oats Take a Tumble While
Provisions Go Higher.
SERIOUS SLUMP IN CORN

Chicago, May 2.-Wheat pursued an
erratic course today. inuenccd by news Of
a diversified character. The uadertone in
the main was strong. but fairs OF grains
in Kansas and a bad slump in corn
turned the market, and Juiy wheat closed
sc lower; July corn 1sse depressed and
July oats &c lower. Provisions closed
unchanged To Sc higher. Fi.m cables
too much rain ID the spring wheat coun-
try a.id continued dr1uth in Kansas
brought ( slight upturn early in wheat.
BeaIs, however. soon attacked the mar
l1et on the depression OF dull corn mar
ket and reports OF excellent conditions
II the wheat country where rains had
fallen Prices slipped or, but were at
once buoyed up again by good buying on
me decline Cash business was improving
cieaTances were fair and experts had the
Kansas crop damaged - per cent. july.
which had opened shade 70 lsNizc
higher at Il to Use and sold off 20 75izc
soon jumped 70 nc. The early outside
markets had been weak but improved
somewhat export business was reported
sood and material strength was mani
rested Then came another attack by the
BEARS on fears Of rains In Kansas. Corn
continued TO decline and wheat sold of.
July dipped again to .61zc and closed weak
ia SC lower az lGi2Q@sc. Local receipts
were - cars, two of contract grade. Min
neapolis anu Duluth reported 2iS cars.
making total for the three points of
% cars, against 1874 last week and 261
a year ago Argentine shipments were
10l2.0D bushels, compared 10 a20OoO
bushels q year ago. Primary receipts
were $500 bushels against 3S2. 90 bushels
last year. Seaboard ciearances in wheat
and flour eQuaHed $1,000 bushels. The
cd ffv hal d.
taken for export.
Corn was duh all session and because
Of its inertness slumped badly. Wheat
mOmentarily brought strength but the
absence OF support was more than the
market could withstand, considering the
bearish news that vas coming in from
the fields The weather was ideal for
growth and farmers were sending their
stuff 70 market more freely than of late
Gables We're Indifferent and Argentine
shipments builishly larger. Later. after
the wheat support had been lost. bears
began selling short July slumped from
C3H TO a weak close at the bottom price
of the day 1fsc lower at 62ls@Ac Re
ceipts. 1S4 cars.
oats Were weaker by the depression in
ether grains. There was some fair buy
ms by commission houses at times and
wheat gave some support. The late
weakness. however. pressed prices and in
the view of good farm reports July closed
weak sc lower at S52sc. Receipts We're
ISL cars Provisions showed marked
early but lost much of the gain
near the close or liquidation for profits.
The hog market was strong at the yards
because of the light run of hogs. There
was a good covering of short accounts in
pork sold at .1n-aSE Sc ST, SESESEES
products and packers also supported. July
pork sold at $3.50 and closed sc up at
s1702h; July lard closed sc higher at Sob
and July ribs UNCHANGED ct $3.50.
Estimated receipts for tomorrow: Wheat
81 cars corn. $50 cars; oats, 205 cars; hogs
1900 head