The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-05-12
WHEAT MARKED DOWN
Improvement in Crop Con-
dition Caused Large Selling.
CORN AND OATS HIGHER
Provisions Remain at About
the Same Values.

Chicago, May 11-Improvement in con-
dition Of the growing grain in the United
/ States and prospects of an enormous
/ Yield In the Canadian northwest caused
/ liquidation of wheat today Final Quota
| tons on July show d loss Of bG5sc
| Corn is up ]5c. Oats gained ss04c Pro-
| visions vary from a shade higher to loc
! lower
Observation-Disclosures extreme bull
ishness of the government crop report
the wheat market opened barely steady
July being a shade higher to &c lower
at S5ssdS6lsc. Many traders were aprar-
emily of the opinion that the excellent
weather Of the past ten days had wrought
material Improvement in the condition
OF winter wheat. As a consequence they
were not disposed to buy heavily On the
other hand offerings were rather light
firm cables and small receipts having a
tendency 10 check free selling. Under a
fair demand from pit traders firmer
tone developed. July advancing to o6l4@
S6ssc. As the session advanced there was
more disposition to sell manifested. and
prices began to decline The change in
sentiment was due largely TO reports as
to the condition of the crop. Kansas
City dispatch claimed that taking into
consideration present outlook in that sec
ton, the government report was alto
report from Montreal the wheat crop in
Manitoba viii be the largest in the his
tory of that country, an estimated yield
of S0.eon.O00 bushels being given for that
province and northwest territories
Influenced by these advances the pit
crowd commenced to hammer the mar
ket and caused a quick decline. A lot of
long wheat came out on the down turn,
commission houses selling heavily on stop
flc- DIT, :,
be checked July dropped to sisdS5c.
Shorts were fair purchasers late in the
day, and on an improved cash demand
part of the loss was regained, but the
market closed weak, with July a S5ssdH. I
Clearances of wheat and -four were equal
to $500 bushels. Primary receipts were
17I.2eo bushels, compared with 215.oO0
bushels a year ago. Minneapolis. Duluth |
and Chicago reported receipts Of 81 cars, |
against IS cars last week and 80 a year |
ago.
corn-Considering the weakness in |
wheat, the corn market exhibited decid- |
ed strength. The market closed at about /
the highest point of the day July opened /
a shade TO 1S@14c higher, at 4s9sT4si2. I
sold between Island 4824QTs. closing at |
4s24c. Local receipts were 81 cars, with |
one Of contract grade
Oats-The feature of trading in oats
was an urgent demand for the May de-
livery from a prominent commission
house. After opening 1sqAc lower. at
3SSsc. July ranged between 3S14 and 3sc, +
closing at $3.50. Local receipts were Sc
cars.
Provisions-Provisions We're easier on
selling supposed to have been for outside
account. It was case of free liquid
atien of July products. The market re-
ceived fair support at times but the de-
mand was not sufficient TO prevent small
losses in pork and lard. July pork closed
l0c lower at s1l.2715. Lard was down &c,
at s6.4712. July ribs closed a shade high
er at s6.371aG6 40.
The leading futures ranged as follows: