The Wichita daily eagle., 1894-03-02

CHICAGO, March l.-W heat was strong to-
day and advanced l3s cents, retaining q cent
of that at the close. Better cables, big export
clearances. and a reported decrease in the Wis
ible supply were pronounced bull factors and
fair buying aided in the advance. A revision
of the visible supply figures later caused a re-
action near the finish, but May was u cent
from the bottom at the close. May corn is
unchanged. May oats is Is cent higher and
provisions lower all around.
Wheat started firm at about ID cent i'm
provement over yesterdays closing price.
There was some selling for a few minutes,
and, after a decline in the price from 5sZ
cents-its star!ing-tO 591 91aa593s cents it turned
and advanced under a strong demand. For
an hour and half there was large business
done. Commission houses were well supplied
with buying orders; largely in small lots,
but there were plenty of those, and one cent
and more was quickly added to the price
after the small decline already mentioned.
By II O'Clock 60s4 cents was paid for May. The
Cincinnati Price Current said that the week
had been more trying than previously for
wheat. 1t remarked, Also that interior sup
plies were SO reduced that mills are obliged
to draw increasingly on market centers. A
supplement to that was received in private
dispatches from the Cincinnati Price Current,
which gave an estimate of the wheat in far
$1,000 NetAAS, PitSihS Ii dt oo,Voo,DOO pusis7in
less than at this time year ago, 1900 900
bushels less than the average for one year.
anc 100000 bushels less than the smalles
stocks of any In those twelve years In addi-
tion to the effect of these figures, the clear
ances OF wheat and flour from the four princi-
pal Atlantic ports amounted to about 600 600
bushels. Receipts weye 43 cars against 246
last year. Minneapolis reported 22S cars, and
Duluth 81 cars, compared With 277 cars and
% cars respectively on the CORE spending day
of last year. Liverpool stocks are 29G. .O0O
smaller now than on Feb. /. A drop of l-l6
per cent in English consols caused some addi-
tion to the bullish feeling while the advance
was in progress. The top of the bulge was
reached about 1880 O'Clock and then some
sitting of the Price Currents figures caused a
revulsion of feeling in the crowd. On inquiry
OF the editor OF the journal, he stated that he
estimated the present stocks exclusive Of
what is in the regular visible supply at
1876 900 bushels, and as the government
gave the farmers stocks year ago at l35 OOO,-
600 bushels, that explanation took the edge off
the bull feeling, which the first manner of
putting forth the statement had produced.
The Price Currents comparisons are all made
with its own previous estimates. Cahles.gave
an advance at Liverpool from u d to d. The
decline from the highest price of the day
stopped at 6O14 cents, which was the ruling
price at the close.
Corn was again quiet, the market attracting
but little attention, and fluctuations being
narrow and trading local. A steadier tone
prevailed and the prices were a trifie firmer
though the closing showed but little change.
The market was governed to great extent
by the action of wheat, as has been the case
all the week. The opening trades were at
about yesterdays final quotations. and after
selling down 1sa14 cent recovered the decline
and ruled steady, and May closed Is cent from
the top.
In oats there was better feeling and
prices averaged higher in sympathy with
wheat and corn, and also owing to the small
offerings. Prices advanced 1sa4 cent and the
close was steady with May midway between
the days top and bottom figures.
Provisions opened weak and lower on the
receipt of live hogs at the yards being about
1900 over the estimates and decline in
prices for them. Those who bought yester-
day sold out today, resulting In a moderate
break. Trading was quite active, and more
SO than for some days past. Some outside
selling orders came in. presumably for a
prominent packing institution. The strong
feeling, and covering of shorts later, were re-
sponsible for a very moderate advance, but
the undertone OF the market was weak in
absence of support, and made Itself felt
shortly before the end of the session, prices
easing OF slightly, and closing fairly steady
for pork and ribs, and firm for lard. Com
pared with last night May Pork is l5 cents
lower; May lard 10 cents lower, and May ribs
"a cents lower.
Estimated receipts for tomorrow: Wheat,
T. cars; Corn, 450 cars; Oats, POS cars; Hogs,
$1,000 head.