The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-04-14

CHICAGO. April 13-Wheat was feverish
today, plunging up and down the scale of
prices and ending with gain of l3s cents
Tor May. Conflicting crop reports, short COW
BRING. long selling and New York export buy
ing sent prices up and down and large busi.
hess was transacted. Corn is without change,
hnd provisions, after starting out on q bull
rampage, left of tame with a cents loss in
pork. a 21s cents advance in lard and with
but much change in ribs.
Rain in Kansas startled the bulls in the
wheat market at the opening and they made
- haste to get rid of their holdings. That re-
suited In drop of l-2 cent as soon as trading
commenced. For matter of three four
minutes 1t looked like sure thing to sell
wheat; the scalpers were saying SO to each
bther and trying to find buyers for fives, tens
and twenties of May at 5sts to 5s1s, when a
sudden demand sprung up, In five minutes
May wheat was worth 6O34 cents and no one
wanted to sell il for a minute or two on ac-
count OF the unexplained couse of the de-
that E. K. Post, heavy New York Spectator
had been caught playing the wrong side OF a
straddle of about two million bushels of
wheat between New York and Chicago and
had sent buying orders to cover the short end
OF his spread here. That being the cause of
the quick IL cents advance, the market re-
acted as soon as that line was covered and
when 1t became known that there were no
grounds for the bulge there was decline to
about the opening figures in the next forty
minutes, but the rapid changes SO easily
brought about had made the traders nervous
and there was another quick upturn to 601s
10 70 "a before II o'clock. California reported
no reiIef from drought there. Foreign mar
kets were firm. The strength of the closing
tables and reports of the taking of great deal
Of wheat for export at New York were assumed
rs In a measure confirming the reports of
enxiety in Europe on account of dry weather
there. The market became very strong about
an hour from the close and May went up be-
yond its highest previous price. July kept
going up about cents per bushel in advance
Of May. The final strength which made all
else forgotten came from the report of over
pinety boat loads having been taken for ex-
that they went up to 81 and 6l1s cents about
twenty minutes from the close, though there
were denials of any such number of boat
loads having been placed in New York. May
sold as high as 615s cents and July at 631s, and
Partridge was the most active buyer on the
jump. There was reaction to 6l2s cents at
cents.
Corn was for the most part weak. but not
radically SO. 1t was claimed that there was
no demand from the east, but, at the same
time, sellers were not inclined to favor de-
cline very far The days range in May went
from 3sass cents up TO S834. then down to a2A.
recovering again to 381aa5s, and fiuctuattng
for the remainder of the day between 3S14 and
Bels cents. 1t closed at the latter price.
There was more independent strength
shown in the oats market today. There was
q good many buying orders on the market
and trading was moderately active. May
startso shade under yesterdays last quota
tion at 3l5S cents, sold up to 321s cents fell
back again to 321s cents, but sold again at SIX
Cents and closed with sellers at that price.
Provisions started very strong. When
wheat was making its advance, similar eff
feet was being felt In May lard. Baldwin had
q lot OF the latter to cover for a New York
speculatOr and the price rose I215 cents at tie
start. Pork for July, from Il, s. at the opening
went up to 1906, but at the advance there
was quite free realizing by longs and in the
end the price got down below the Yesterdays
closing price to Il, 20 and left Off at u So max
ing loss of cents for the day. May lard
dropped TO 2, 40 and closed at 1925. Ribs after
Irregular fluctuations, closed steady and I'M
changed.
Estimated receipts for tomorrow: Wheat
So cars; corn l6o cars; oats l29 cars; hogs 1900
head.
Chicago Market.
chic