The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-10-24
WANTS MORE ROOM
LACK OF STORAGE CAPACITY IN
THE WAY OF EXPORTING.
Wheat Opens Under Previous Closing
Passes Through Spasm Of Short
Covering - Rebounds and Gets
News of Good Export and Low Es-
timates-Corn Unchanged.

| CHICAGO. Oct. 23.-After dull and weak
session, due to combination of bearish ia
Auence, the wheat market woke up at the
| finish today, and startled by vigorous COW
| ering by shorts, closed IS higher for De
cember. May corn closed unchanged; May
oats unchanged and provisions at slight
declines.
Heavy receipts in the northwest today
| aud heavy denominations Of country ele-
| vator stocks in that part of the country
during the last week. were the chief infiu-
ences in wheat at the opening. The mar
ket dropped q cent of its previous value a.
soon as trading commenced Shorts, who
had been waiting for some OF what they
| called good bear news to cover on, had in
that an opportunity 10 do so. for the local
scalpers commenced to sell and 200. O0) or
300 coo bushels changed hands at from
52112 cents 70 5212d525s cents for December
anu from 51as To So cents for May. But
WHEN the wheat for sale at those prices
, was exhausted, the price reacted to the
| highest price previously paid. ID cemb-r,
which closed yesterday ct 523I cents,
opened al 5255 cents. II stood at 81 cents
for long time with au occasional dip of
1-l6 cent below that aud when Bradstreet's
Visible supply came ii sold few moments
al 5212 Cents. An inquiry for hard spring
wheat WAS reported aud some sales. New
York wired that if freight room were
plentiful heavy export business wonld be
done. Those latter matters induced ME
shorts % cover and caused December 20
touch 52T cents about half an hour from
the close, and ut the finish sent it to 30
cents.
Corn in sympathy with wheat was weak
at the start and during the first half of
The session firm, and in good demand dur
ing be latter half. Nav opened at 499I
cents. or g cent below its closing value on
the day before. It remained dull. selling
at 1875 cents for second, but steady for The
g Ter part of the time in the forenoon at
1914 cents. After the estimated receipts
Tor omorrow were known to be very small
and some shipping demand was found to
exist, the market became firm and near
he end quite strong, Mag advancing to
o04 cents. and closing At sos cents bid.
TRAILING in oats was limited. The mar
ket followed and even though the offerings
were light, they far exceeded the inquiry.
May Started at 30 cents, touched 32X
cents aud sold down To 321 conts reacting
with corn and closing at 1925 ceuts.
Provisions were very duh and had none
of the firmness which was thought to be
underlying the market Yesterday. The
opening prices were a shade under closing
quotations Of yesterday ana slight fur
Their decline occurred later and was still
maintai at the end. Compared with
closing prices of the day before pork is ~
cents and lard and ribs each cents lower.
Hog receipts today were 20, 900 aud so 600
are estimated for tomorrow. The decline
WAS in sympathy with corn, but the mar
ket failed to rally as the grain market ad-
vanced.
Freights at l cent for grain to Buffalo
and cargo OF wheat to Milwaukee paid
"a cent