OCR Text |
Show EXTREME WEAKNESS II WHEAT kl WEEFS Ell Virtually No ' Support, With Holders Selling When Confronted Con-fronted by Heavy Arrivals. CHICAGO. Julv 24. Extreme weakness marked wheat "trading throughout the entire day. Selling was general and support sup-port was of the poorest kind. Several large holders were moderate scl'i rs, and smaller longs, afraid to hold their linos in the face of continued heavy movement of new wheat, hastened to secure rapidly-vanishing rapidly-vanishing profits. Arrivals here today were 385 cars, and 358 were estimated for Monday. Absence of any foreign demand, notwithstanding tho severe slump in prices, also stimulated free selling. During Dur-ing the day July sold off from $1,103 to $1,071 and September from ?1.07s to $1,051. There was a rally near the end of tho day, but the close was weak, with July at $1,071 and September at $1.05gW I. 053. Corn was strong all day, notwithstanding notwithstand-ing a. drop In temperature in the southwest, south-west, where tho crops were supposed to be in danger of the excessive heat. July declined more than lc late In the session on profit taking. Nearly all of this loss, however, was regained Inter. The close was firm, with prices lc lower to BS3c higher, compared with yesterday. The oats market was quiet and the tone somewhat mixed. July was weak, owing to realizing sales, while the deferred deliveries de-liveries manifested strength on buying by shorts. At the close prices were illc higher to 3c lower. Provisions moved over a narrow range of prices. A 5c advance in live hogs was a bullish factor. Prices closed a shade higher to 5c lower. RANGE OF THE LEADING EUTURES. Wheat Open. High. Low. Close. July 1.103 1.103 1.071 1.07a Sept 1.07 1.071 1.051 1.053 Dee. 1.15 1.153 1.10 1.10 May , 1.075 1.08 J ,07 1.07 Corn ruly 721 725 713 7l Sept 67a 68 678 691 Dec 693 573 57i 57Z May 5S 5Sg 57g 5Si! Oats-July Oats-July 45i 45 44 443 Sept 40ii 41 401 4055 Dec 405 111 404 403 May 431 431 421 '131 Mess pork, per barrel July .. . 20.80 Sept 21.05 21-.05 21.00 21.00 Lard, per 100 lbs. July 11.75 11.75 1 1.70 11 .721 Sept ..11.75 11.75 11.70 11.75 Short ribs, per 100 lbs. July 11.40 Sept 11.37J 11.37 11.35 11.37 CASH. QUOTATIONS. Cash quotations were as follows: Flour Easy; winter patents, $5.306.!0; straights. $5.006.25; spring patents, $6.00 6.30; straights", $ 1.905.C5; bakers. $3.50 fj5.25. No. 2 rye, 79c; feed or mixing barley, bar-ley, 65J?67c; fair to choice malting, SStfp 93. Flax seed No. 1 Southwestern,' $I.3L; No. 1 Northwestern. $1.16. Timothy seed, $3.S0. Clover. $10.85. Mess pork, per bbl. $20.77iJi20.S0. Lard, per 100 lbs. $11,725. Short ribs sides (loose). ?ll.40tfi II. 50. Short clear sides (boxed), $11.87 12.00. GRAIN STATISTICS. Total clearances of wheat and flour were equal to 13.000 bushels; primary receipts were 1,190,000 bushels, compared with 1.073. 000 bushels the corresponding day a year ago. Estimated receipts for Monday Mon-day Wheat, 358 cars; corn, 265 cars; oats, 69 cars; hogs, 29,000 head. Cotton Letter. James A. Pollock fe Co-, bankers and brokers, furnish the following, received over their private wire yesterday afternoon: after-noon: Logan & Bryan's cotton letter, New York Liverpool cables were better than looked for, and American markets opened at about unchanged to 2 points higher than yesterday. Tho weather situation remains rather spotted in the Southwest, but with the exception of an Inch rainfall rain-fall at Waxahatchle, Tex., the rest, of the southwest belt showed no change from the conditions of yesterday. Recent rains In Texas have not wholly convinced thinking people that Texas has been benefited, ben-efited, as it is within tho range of probabilities prob-abilities that the weather to follow or tho weevils to follow, might add to the damage rather than lighten its severity. In the central bell some complaints of rain are noted, but It Is logical to think that in mid-summer, complaints of rain will find a remedy In the natural weather weath-er that follows, but In tho Southwest, where drought has prevented a natural growth to the plant, it Is also logical to look for the withering sun of August to prevent full development to any vegetation. vegeta-tion. It Is said that a prominent Beaver street speculator will issue a statement on Monday which will show a rapid deterioration de-terioration of conditions during the past thirty days, and the atmosphere is rife with rumors that next week will find a rapidly advancing market on account of the expected decline in conditions that might follow in the bureau report to be issued on August 2. It is hardly logical to expect the bureau to follow extreme statements of decline in condition, and it may prove il boomerang If trade expects too serious a deterioration. It Is reasonable, reason-able, however, to expect a slightly lower August second report than on July 2. and when that condition is shown. It will probably be the lowest in the history for the month. The cotton market is cleaned up to trailers, and Is lu a position to respond re-spond easily and rapidly to bullish conditions. LIVESTOCK QUOTATIONS. Chicago. CHICAGO, July 14. Cattle Receipts, estimated at 3000; market. steady, beeves, $4.10'7.60; Texas steers, $4.00 5.75; western steers, $ 1.00f7'5.75; stockers and feeders, $3.005.10; cows and heifers, $2.25C10; calves, $5.50f?S.50, Hogs Receipts, estimated at 7000, markot. strong: 5c higher: light, $7 65C'' 8.20; mixed, $7.50(J?8.25, heavy, $7.25 8.30; rough. 17.45Ii7.65; good to choice heavy, $7.65(58.30: pigs, $7.00S,00; bulk of sales, $7.70S.15. Sheep Receipts estimated at 3000; market, steady; native. $3.005.75; western, west-ern, $3.00(5.50: yearlings, $6.00T!0.10, lambs, native, $1.758.15; western, $1.75fi C. 10. Omaha. SOUTH OMAHA. July 24. Cattle-Receipts, 2,00; market unchanged; western steers. $3.50g)5.50; Texas steers, $3.00tfi' 5.00; range cows and heifers. $2.75(014.75': cannors. $2.003.25, stockers and feeders. feed-ers. $3.00J'5.25: calves, $3.50(7.00; bulls and stags. $3.0005.00. Hogs Receipts. 1-100 ; market steady to strong, heavy. S7.50fi7.75; mixed. $7 75 (0)7.85; light, $7.70(0,7.75. pics. $0.25577.25 ; bulk of sales. $7.75(0'7.85. Shcc'p Receipts. 600; steady; yearlings $5.00fi0.00; wethers. $4.25(05.25; ewes, $3.75iQ)4.75; lambs. $6.50(0)7.75'. Kansas City. KANSAS CITY. July 2 1. Cattle Receipts. Re-ceipts. 300. Market steady. Native steers. $4. 507.00; native cows and heifers. heif-ers. $'-'.25(07.OO: stockers and feeders. ?3..",o 05.25; bulls. $2.80(01.25; calves, $3.50(?j 7.25; western steers. $1.25(06.25; western cows. $2.75fl 1.50. Hogs Receipts. 2n00. Market 5c higher. high-er. Bulk of sales, $7.50(017.83; heavy. $7. SO W7.95; packers and butchers. $7.75(07.90; light. S7.4O(07.SO: pigs. ?0.25(i,7.25. Sheep Receipts none. Market noinl-fiially noinl-fiially steady. Muttons. $1.25(0)5.20; lambs $6.507.70; range wethers. $4.OnV50. range ewes, $3.25(0)5.00. : I |