The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-03-30
WHEAT WAS LOWER
Contradictions of Crop DAM
age Encourage Bears
WAS HEAVY REALIZATION
Corn, Oats a n d Provisions
Share Wheat's Fate.

Chicago, March ACCOMMODATIONS of
crop damage reports caused heavy realiz-
ing sales today in wheat Compared
with last night July wheat closed at a
! loss of 19sc. Corn is down shade. Oats
are &c of and provisions 712Q4oc.
Buyers of wheat were out in force at
the opening, but sellers were scarce. The
result was a strong start, the July op-
/ ton being up shade to 2sQ*c, at SSS4
/ s9l+c. The initial acuteness was due
partly TO higher cables, but the strength
in the cash market yesterday was per-
haps the supporting factor. For time
the market was extremely bullish and
prices continued TO advance, July selling
up to 89i2c The upward tendency re-
ceived some impetus from a rumor to
the effect that the Missouri crop report
would show considerable deterioration in
the condition Of the growing plant Small
receipts in the southwest also increased
the demand for wheat in this market
As the session advanced, however. senti-
ment gradually changed. Numerous re-
ports were received stating the crop dam
age in Kansas and Oklahoma had been
largely over-estimated A number of
such reports were received from St Louis
and TO add emphasis TO the news. heavy
selling orders accompanied the bearish
advices. The worlds visible supply was
another source Of disappointment to the
bulls, the reports as compiled by Brad
street, showing a decrease of only 10000
as compared to a decrease Of 100000
bushels a year ago. Commission houses
became liberal sellers and many of the
early buyers FASTENED TO take profits On
the heavy selling prices started down
ward, the market being void of any ma
terial support When July had fallen to
SI7sc, a drop of over &c, shorts covered
quite freely, causing a slight rally.
Close, however. was weak, with July at
SI%s0~c. May closed at 95lsc, after sell
ing between 953.Q971sc Clearances OF
wheat and -four were equal to 2S6. 800
bushels. Primary receipts were $4,000
bushels compared with 1850 bushels a
year ago. Minneapolis and Duluth and
Chicago reported receipts OF 25l cars.
against 900 cars last week, and 306 cars
year ago.
An active general trade was witnessed
in the corn pit. but a nervous feeling was
manifested. The close was easier July
opened 1sd2sc higher at 52a524c. sold
between 5112Q5S12c. and closed 517s@Tsc.
May ranged between 541za5512c, closing
at SOC. Local receipts. Dos cars, with 81
of contract grade.
oats followed the course of other grains.
the market being governed almost ex-
clusively by the action of wheat and
corn. After opening a shade to 1scd4c
higher at 3S7sQ39c, July sold between 3sas
@1-c and 39lsaHc, closing at SSI2G5sc.
Local receipts We're 2c5 cars
Provisions were firm early in the SEES
sion in an active commission house de-
mand, the strength in grains being the
influence. The market felt the
effects Of the late selling in wheat and
corn, realizing sales causing losses
throughout the entire list The close
was weak, with July pork down 80 cents
at Sl325 July lard was off 10 cents at
nc ard ribs were down 71261oc at sos