The Wichita daily eagle., 1904-05-24
WHEAT CLOSED WEAK
Bearish Crop Advices and Lib
eral Russian Shipments.
CORN WAS UNCHANGED
Oats a Shade Lower, While
Provisions Are Firmer.

Chicago. May 3.-Bearish crop advices
from the northwest, in addition to lib
eral shipments from Russia, caused weak
ness in wheat today. Compared with
Saturdays final figures, July wheat shows
a loss of 12c. Corn is unchanged. Oats
are a shade lower. Provisions are UP
215G121ac.
For brief period at the start the wheat
market had a firm undertone. The firm
ness was due mainly to extremely small
local receipts, only two cars being in
spected into store here today. Initial
sales on July were unchanged 10 Sc
higher. at s77sGsSl.c. Ideal weather con-
ditions and surprisingly heavy ship
ments from Russia asserted influence,
however, before the session had made
much progress. and on scattered selling
the market became easier. Weakness Of
the May delivery affected the deferred
futures and was a prominent bear IN
fiuence. Great improvement was claimed
in the condition of the winter crop. One
report from Kansas City was especially
optimistic. the assertion being made that
threshing will be begun in Kansas within
thirty days The report further declared
that early wheat from that section would
be rushed TO Chicago in preference TO
gulf ports. The market became quite
sion, part of the weakness being due 10
selling by those who bought Saturday
on the reported cash sales at Minneap-
oils. Bearish crop advices from the
northwest had much to do with the in
creased depression pervading the pit near
the close. The market finished weak,
near the bottom. July being at S77sc. after
touching S7ls0SAc. May ranged between
977sac and 991zc and closed at CSC. Clear
| nf 11-hn nd 70
127.500 bushels. The amount on passage
increased 32S 600 bushels while the visi-
BILE supply decreased 3921, 900 bushels.
Primary receipts were 331 600 bushels
compared with 435. 500 bushels a year ago.
Minneap polls. Duluth and Chicago reported
receipts of 235 cars, against 1919 cars last
week and 313 cars year ago.
In view of the number of bear factors
manifested throughout the session the
corn market held up remarkably well
The market closed about at Saturday S
final figures. July opened lsc to 1s@14c
lower. at 4Slsc to 4S1sG4S1ac, sold be-
tween 47Isc and 4Ssc. closing at 4Si4Q
4S1sc. Local receipts were 10 cars, IL of
contract grade.
Excellent weather and predictions of
liberal receipts tomorrow had depress-
ing influence on the oats market, bear
ish sentiment being manifested through
out the entire session. Weakness in other
grains also tended TO bring out sales from
scattered sources. After opening lsc
lower at 3S1sc, July ranged between
Csc and 3S1sQ3Sssc, closing al 3S1sG3S14c
Local receipts were 50 cars.
Provisions We're easier early in the day,
as result of heavy receipts of hogs
and lower prices at the yards. The de-
mand for all products, however, was
quite active and offerings were readily
absorbed resulting in fair advance.
Packers were credited with moderate pur-
chases. July pork closed with gain of
12t2c. at s11.1715. Lard and ribs were each
up 2ia05c. at s6.32laG6.4O respectively.
Estimated receipts for tomorrow:
Wheat l5 cars; corn. 3l2 cars; oats, 30
cars; hogs. $4,000 head. ~'ft
The leading futures ranged as follows: