The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-03-30

CHICAGO March 29.-The bears in wheat re
gained their nerve today and fought damage
reports so successfully that May closed "a cent
lower than yesterday. There Was a bullish
tendency manifested owing 10 damage reports
but free selling on the hard spots landed May
ar 81 cents or a cent below the high point in
yesterdays sensational advance. The trading
was not heavy. Corn and oats weakened with
wheat and each closed Is cent lower. Pro-
visions. after early squirt, went down under
free selling and closed lower.
Tne cold wave which had been billed to ap.
pear in long distance slide from the zero
mark failed to materialize today, and thus
caused a very general desire among the scalp
Ing fraternity, who had long wheat, to sell
oat, In consequence the market opened weak
with free sellers at COX cents for May, as
agairst 601s cents at the close yesterday.
II about ten minutes there was drop to
COS cents, at which point only a few ''fives''
changed hands, but quite free interchanges
took place at Ga cents. Buying against
puts" supported the market at those prices,
anc the tendency for another hour was up
ward. BY ii O'Clock there had been a recoV-
cry to 81 cents and then the price commenced
20 decline again. Conflicting reports were re-
ceived from the wheat fields but enough evi-
dence of damage was forthcoming to restrain
TIE short selling within conservative limits.
The usual daily reports of the movement of
wheat and -four were not of a nature to con-
vert the bears or 10 cause uneasncss to bulls,
leaving out the crop damage question. The
Chicago receipts were thirty.o cars com
pared with l39 cars year ago. Minneapolis
md Duluth reported 223 cars, with ;i35 cars on
the corresponding day last year. The four
principal Atlantic ports cleared out 2S5. 900
bushels of wheat and -four together. The
primary market receipts were 2Si157 bushels
against OS, l62 bushels at same places a year
ago. There was considerable long wheat for
sale ON the early bulge, and on every little
rally which succeeded it, Thsconflict in the
reports concerning damage caused the alert
scalpers TO prepare for reaction, and
the attitude they then assumed toward
The market very largely assisted in
bringing about the decline which afterward
occurred. Liverpool closed from Il to a pence
higher; Berlin Il mark up and Paris was also
considerably higher for wheat ana flour. Tn
sunshine and milder temperature helped the
bears, and decline from 81 cents 10 59$4
cents was gradually brought about with co
cents bid as the market closed.
Corn was weak at the start, in sympathy
with first drop in wheat. 1t then became
firmer when wheat recovered early in the
day, but weak and lower in the afternoon.
May opened with a few sales at 317s cents
1t gradually worked upward from the latter
point until il touched IS cents for moment
but he longs sold and there was decline TO
S.1s cents. the closing price being 371s cents
There was but small amount of business
transacted in oats. The market was entirely
dependent on wheat. The cash market for
oats suffered no decline in prices, but the de
mand was not very urgent. May opened from
- to Il cent under yesterdays price at 3l1s
cents, sold up Is cent and declined to 81 cents
Shortly before the close it rallied to 3!1f cents
where IL closed.
Good trade was done in provisions There
were many changes OF feeling among the trad
ers during the day, with moderate weakness
the prevailing sentiment at the opening and
again toward the close On an advance which
followed the early W. akness, the packers APP
peared quite willing TO supply the demand
ana kept thrir stock on sale until a consider
able decline had taken place. May pork after
an advance, of 50 cents closed 2R cents lower
May lard closed as on the day b fore. Ribs
closed with a loss ofl0 cents for the day at
ter an early rally of71E cents.
Estimated receipts Tor tomorrow. Wheat
30 cars; Corn, 200 cars; Oats, l75 cars; Hogs
Be 00G