The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-08-27
GRAINS TURN
DOWN DECLINE
0ver-bought Market Knocks
Prices in Corn.
WHEAT is LOWER TOO
Oats Show Firm Opening but
Close Weak.
is LOWER TOO

Chicago. August 26.-AII markets had
downward trend today. Fine weather
in the northwest where the spring
wheat haryests are exerting a big in1u-
ence on world prices and the possibility
OF increased movement worked the edge
off wheat. Corn seemed TO have been
over-bought on the fear of scarcity for
near contracts; good crop reports did the
rest and sympathy Influenced down turns
in other pits. At the close September
wheat was 24a%c down. September corn
1Ac off, and September oats &c down.
Provisions closed TIC up to sc down.
In Wheat Pit.
Trade in wheat was a dull. tagging
affair for some time. There was oc-
casional spurts of activity. but in general
the trade simply allowed prices to slip
gradually on the influence of the North
western market. There had been fair
weather in the spring country for twenty
four hours and predictions were for
continuation Of the favorable conditions.
Cables were Indifferent weather being
fine both in England and France and the
spot demand disappearing. Cool weather
in the northwest. together with poor
grading here, and lighter receipts of
wheat. probably vas the reason why
there was no heavy selling pressure in
wheat. Cash stuff north was as much
as 1lzc lower and the demand was slow
Minneapolis and Duluth were not getting
much wheat, but there were prospects
of an increased movement September
here started a shade to &c lower at 724se
to 7214c and slowly fell off to 711sc, clos
ing weak 24qHc lower at 715sc. Local
receipts were Al cars, one of contract
grade; Minneapolis and Duluth reported
$50 cars. making a total for the three
points of 759 cars, against 572 last week
and 1,OSs year ago. Primary receipts
were $4,000 bushels. compared to 1,zS1.-
900 bushels a year ago. Seaboard clear
ance in wheat and -four equaled Ss9.O 900
bushels. The worlds visible supply de-
creased 100000 bushels. u a u
In Corn Pit.
There was q limited demand early for
CNPANfAbNA NOAh On lnc lnHQcHtt VI
higher cables and poor local grading.
Stocks were falling of. Rains also re-
tarded the maturing corn. These factors
started little bull movement early and
September corn once more sold at 60c.
The pit, however, soon took on heavy
aspect. In the enthusiasm during the
last bull turn. it seemed that too much
stuff had been taken on. Holders weak
ened from their bullish position and on
the wheat break. let go of stuff. These
ugh prices deferred shorts from cover
ing freely and prices broke. September
was erratic. September eventually sold
down 10 572c and closed weak nc down
at 5Sl4c. Receipts were so cars six Of
contract grade
In Oats Pit.
oats showed a little firmness at the
start with corn. but at once weakened
on fair offerings. Cash business Of late
has been slow because of the inferiority
Of arrivals. Receipts were big at 53S
cars. although onl yeighteen cars were
contract. There were rains in some of tho
cat fields, but conditions northwest were
favorable. Commission houses had SELL
ing orders and professionals scalped on
the bear side. September sold from 337sc
to weak close, &c lower at 3sc.
Provisions were only fairly active and
were somewhat irregular. Hogs were
commanding much higher prices. and
there was some support Lard was in
good demand. Pork and ribs. however.
were sold freely on the bulge and /
iown at sls.s71s; September lard nc UP
at Hos5 and September ribs SC off at
'lo15. Estimated receipts for tomorrow:
Wheat. 200 cars; corn, 20 cars; oats, go /
ears; hogs. 5000 head.