The Wichita daily eagle., 1894-03-04

CHICAGO. March 3-Wheat was strong at
the start, but weakened, and closed 4 cent
lower for May. The prospects of a cold wave
caused buying at the opening, but it was not
by free sales. This, and larger northwestern
Ieceipts easier cables, and the mild and
balmy weather, with continuation OF the
selling, caused 81 cent decline, May closing
at the bottom. May corn is 1s cent lower
May oats "A cent lower, but provisions re-
fused to share in the weakness of the grain
markets and closed higher all around.
May wheat which closed yesterday at &C
cents bid, started at 6UH cents on the pros
poets of a cold wave, but after some active
trading, at from that to 603s cents for few
minutes, it started on decline which lasted
during the first hour, and had, by that time,
worked "a cent off the opening figure, SEA
cents becoming current for moment or two
before noteworthy rally. The very liberal
exports of the week, amounting to 2,9S2, ,OUO
bushels in wheat and flour from both coasts.
did not have any more than very transitory
effect upon the wheat market at the opening.
The weather is of the most promising
character now, whatever 1t may have in store
for the future, and the foreign markets Still
withhold encouragement to shippers. Liver
pool was reported quiet at 4 pence decline in
the price Of futures. The northwestern re-
ceipts were from . bulls point discouragingly
liberal. Minneapolis reported 26S cars and
Duluth "a cars, or 1852 cars in all. A year ago
these two places reported 384 cars. Chicago
received only 46 cars, compared with pol cars
last year. New York wired that foreigners
were sellers of wheat there at the opening,
and here Schwartz -Dupee and other private
wire houses, were loaded with selling orders
from the outside and swamped the people, in
unloading them. who were provided with
orders to buy. w. r. Linn let go freely, and
among the local crowd the decline, which
followed a slight drmness at the opening, was
called "a Linn" The trading was lively for
half an hour. After recovering to 59A cents
on little buying there was q return of weak
ness, and on the next slump there were
plenty Of sellers at 59X cents, with some
transactions at 1-l6 less. The closing quota
tion was at the bottom figures of the day.
In corn there was a very moderate trade, no
note worthy transactions occurring outside of
a fairly good buying deal by one of the houses
which sold quite freely on yesterdays ad-
vance. A easier feeling prevailed and prices
ruled lower. The receipts today were large,
and the weather fine, and liberal arrivals are
expected Monday and Tuesday which to-
gether with the action of wheat caused prices
to recede Aass cent from the opening prices.
The market afterwards rallied fraction
and closed with May but Is cent from the bot
tom.
There was an easier feeling in oats with a
moderate trade The decline of 1saH cent
was due mainly to sympathy with wheat and
corn, as pressure to sell was not large. May
closed at the bottom figures of the day.
Provisions opened strong and higher for
pork and ribs, and steady and unchanged for
lard on a much lighter run of live hogs at the
yards than estimated. The weakness de-
velOped in wheat caused decline, with the
gain at the opening lost. 1t was also con-
tributed to on some selling of pork by one of
the packing institutions, and the unloading
Of some long stuff by Helmholtz. A steady
feeling subsequently was offered the market
presumably in the interest of the packing
company. but there was very little trading.
A little uneasiness was developed shortly be-
fore the end of the session, the close being
steady, however, for pork and lard, and firm
for ribs. Compared with last night May pork
is ~ cents higher; May lard 21a cents higher,
and may ribs ~ cents higher.
Estimated receipts for Monday: Wheat,
so cars; Corn, $50 cars; Oats, $50 cars; Hogs,
% 600 head.