The Wichita daily eagle., 1894-02-21

CHICAGO. Feb. 20.-Wheat shot skyward
today and closed at 2 cents higher. The
good demand advancing prices for cash wheat
in the northwest was the main cause of the
bulge while better exports, good local de-
mand and the weeks shipments being less
than the weekly requirement advance
helped. May scored gain of rs cents and
closed but Il cent from the top. The other mar
kets sym mpathized with wheat and closed with
an advance of u cent for May corn, Is cent for
May oats. and with slight gains for proyis-
ions.
Notwithstanding the big bulge there was
not an unusually large volume OF trading in
wheat today. There were buyers of May at
5s14cents where it closed yesterday. when
trading commenced and it improved slightly
during the first half hour, in which time 1t
had sold at 5S1s cents with noticeable scar
city of offerings. There was only one feature
of the early news of a distinctly bullish char
acter.
The weeks shipments of wheat and flour
from all the exporting countries of the world
came 3,207 900 bushels short of supplying the
estimated weekly requirements of the i'm
porting nations The receipts were only mod
crate. The Liverpool market was reported
quiet at the opening but the market for the
cargos f1rmed up and the French demand for
of coast still continued. There was further
came out of holders hands to cause a
reaction. The later cables reported a de-
cline at Paris and Berlin due to the latter
cause. and there was a reaction from 5S5s cents
to 5S14 cents, Later there was further ad-
vance, based upon more liberal clearances
from the Atlantic seaboard and the great
firmness reported regarding the Minneapolis
and Duluth markets. The price gradually
worked up until it had recovered again to
~. h.
tinued with more rapidity until about fifteen
minutes from / o. clock it was up to 59$s cents
and in another ten minutes it had reached
60 cents. Near the end on the reported pur-
ehase of 260, GOO bushels at Duluth for export,
and a few small parcels here, there was
another slight bulge which put the price up
to 604 cents and it closed cents higher than
il did yesterday. May opened 5S1s cents ad-
vanced Y cent, reacted % cent, advanced
cents and reacted 1 cent, TO the close at 6O18
cents.
Corn was quiet all day, very little enthusi-
asm being manifested and price changes kept
within a u cent limit. A very steady tone
prevailed and offerings were not very free
while fair demand existed, all of which was
due in a measure, to the action of wheat and
also the stormy weather and smaller esti-
mates for tomorrow. The opening trades
were at a fractional advance and generally
and gradually sold up u cent more, became
quiet and steady, selling Off but little and
closed with May at the top figures of the day.
In oats there was fair trading and
stronger feeling. The offerings were not
large and the moderate inquiry combined
with the advance in wheat caused bulge of
ID to 2s cents the close being almost at the
top.
Some free selling orders and low prices for
hogs at the yards were responsible for de-
cline in provisions at the opening. The ten
dency was downwards with slight rallies, on
q little buying by the packers and an inclina
tion by the local crowd to be publish" The
volume of trading was very light. Later on
the market was simply a seesaw one with a
limited range. The price changes were in
fluenced more by the action in wheat than
anything else. Towards the end ofthe sess
ion, however, some strength was developed,
and the market became moderately active on
some buying by two prominent packing in
stltutions, and the advance In wheat with
the closing strong, at about the outside prices
Of the day for everything. Compared with
last night May pork is cents higher, May
lard unchanged and May ribs 2ls cents
higher
Estimated receipts for tomorrow: Wheat,
81 cars; Corn, 30 cars, Oats, Sc ears; Hogs,
sQOGO