The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-09-30
THEY SAIL STEADY
CORN AND WIFE T TURN UNDER
THE BEARS VERY NOSES.

u OOu Buying anu Nco-cTU IccuiuS
Wheat start Market Into Winds
Eye Where it Stays-Heayy In
crease in Visible Supply Expected.
Old Corn Reserve Light.
CHICAGO, Sept. 29-Helped by good buy
ing and talk Of wheat for feeding. the corn
and wheat markets turned today and
sailed along steadily in the teeth of very
severe bearish gale and closed with gain
of Is cent.per bushel. Corn improved 1
cent for May and October and 4 cents
for December. Provisions acted firm aud
closed Is cent higher for May.
Whe tt opened strong, for change, at
49, cents bid for December. compared
with 5314 cents at the close yesterday.
The market ruled firm for half
an hour or so, then had slight
backset. which however, was of short
duration. 1t sold sparingly nj 531s cents
and then worked back to 5315@532s cents,
with an appearance of firmness at that
time which he shorts did not relish. The
regular routine market news afforded no
explanation of the firmness. nearly every
thing pointing to the probable aggrava-
tion OF those features of the situation
which have heretofore caused so many of
the traders to sell confidently on every
slight rally. The buying of some 250, 900
or 800 900 bushels, yesterday by w. K.
Linn, influenced perhaps 100 pit specnlt-
ors who may have taken matter of 25,-
600 bushels each off the market. This had
some effect on the bull side. The hog
consumption of wheat is coming more
plainly in evidence Today's advance, in
the face of a generally unfavorabe out
look, proved that the foregoing copsidera-
tions We're gaining weight. This weeks
exports of wheat and -four from both
coasts MS reported by Bradstreet amount
ed to 900 600 bushels against 8 637. 900
bushels III the week before. and 3,490, 900
bushels on the corresponding week of last
year. Foreign markets were all weak and
lower. Another heavy increase in the Wis
ible supply is looked tor on Monday. Bus
mess was fairly brisk and we'll sustained
during the session. December near the
close rose to 535s cents and closed at
$3.50 @53I. The taking of all the No.
l northern and No. 1 hard spring wheat
in New York at 5515 cents over December
by the milIers of that place helped to sus-
tain the advance toward the close.
The corn market was strong and recov-
cred all of yesterdays decline and q cent
in addition. There was sudden drying
up of the offerings as reported by receiving
houses. The country advices were very
generally 10 Inc eilccC tUdC RESERVES Oh Olu
corn are very light, and new corn is not
expected to De in condition to move
much before December. TOday's receipts
were 239 cars, and 139 cars are expected Tor
Monday. Corn opened at 49, cents, sold
for moment for as low as 49, cents, and
near the close it was worth sos cents,
with 5O1l cents bid as che session was end
ing
A fairly active session was passed in
oats, aud values are all higher. SYM
patty with corn was chiefly infiurn initial in
causing the firmness. The greater part Of
the trading was scattering and the special
sales scarce. Carrington-H Hannah prob
ably bought as many oats as any her one
firm. May started at an advance of 4
cent over yesterdays last quotation at
3335 cents, touched 331 cents and advanced
to 1873 cents. at which price it was offered
at the close. October closed g cents
higher at 2S14 cents bid.
The provision market was firm with
good general buying by outsiders and
packers. Hog receipts were 10000 and
their value was quoted cents higher.
The weeks receipts were only 80, POS, and
only 100000 are looked for next week.
Prices Tor January delivery compared with
hose at the end of yesterdays session are
5 cents higher for pork. lard and ribs.
Freight rates are steady at l q cents for
wheat, 1$s cents for corn and ] y cents for
oats to Buffalo and x cents Tor corn to
Port Huron.