The Wichita daily eagle., 1894-02-28

CHICAGO Feb. 27.-Wheat recovered its bul.
lish tone today, and scored 70 cent advance,
Fair buying, a reported decrease in the Eng
lish visible supply, and better clearances
caused the advance. A little selling near the
close caused slight reaction, but May closed
only Is cent from the top. Corn, oats and
provisions were I'm but dull. The gain in
corn is u cent and in oats about the same.
May pork is 10 cents and ribs ~ cents higher.
Lard is without change. compared with yes
terdays close
Wheat in the first few minutes of the ses-
sion was extremely unkind to the shorts
Yesterday they put wheat to the other party
at 593s and 59R cents, but before twenty
minutes Of today's session had passed they
were paying 5934 cents to get it back. The
principal reason for the advance was the
revelation made by the returns of the small
quantity of wheat and flour put afioat last
week from the other countries. exclusive of
the United States and Canada, which export
these commodities. Including those three
great bOgies of the American wheat trade,
Argentine, Russia and India, the total of the
weeks contributions to the requirements of
the importing countries was only 2,0S0, 900
bushels. To this amount India contributed
nothing. The Chicago receipts today were ~
cars. Minneapolis reported ll9 cars and
Duluth ITO cars. A year ago Chicago got 327
cars. Minneapolis 109 and Duluth 10 cars. The
Liverpool market was quoted easy at un-
changed prices and in the French country
markets firmer. The English visible supply
was calculated to have decreased 1,256,000
bushels last week. The Atlantic clearances,
as the figures came to hand, were giving
promise of liberal tOtal, and with the further
encouragement, the price of May wheat rose
to co.'s cents, Or from K@5s cent advance over
the opening quotation of today, and the clos
ing figures Of the previous day. The export
clearances of wheat and flour from the four
principal Atlantic ports and New Orleans
amounted to about 10000 bushels. Closing
cables were without any marked change. The
northwestern markets were strong and re-
ported an urgent demand for cash wheat.
New York had to be prOpped up by the west
ern markets or it would apparently have
tumbled to the ground. The market here was
very sensitive and nervous with many sudden
changes within the range of COS and 595 cents
for May. The bulls were inclined to sell at
the higher of these two prices for time, but
gained more courage later when the small
breaks were to be easily recovered from. After
selling at 6O4 cents more than once, the mar
ket closed with sellers at 597s cents.
Corn was dull all day. very little interest or
activity being displayed and operations being
confined to room traders within a 81 cent
range. A trif1e better feeling was developed
toward the close. Opening trades for May
We're q cent lower than yesterday, prices then
advanced % cent and May closed at the top.
In oats there was fair trade and a slightly
easier feeling early, but the Offering were well
taken, and a firmer feeling developed on the
in wheat. which carried prices up
H@S cent for May, the close being about the
top. July was quiet and 1sGZ cent higher.
Provisions opened lower on larger receipts
of live hogs than estimated and lower prices
for tomorrow. There was an apparent dis
position on the part of the local crowd to de-
press prices, but good support by a prominent
broker and a leading packing institution and
some covering by shorts not only prevented
a break, but had the effect of advancing
values to yesterdays final figures. The
volume of trading, however. was slight, owing
to an absence of offerings. There was scarcely
anything doing during the balance of the ses
sion from the same cause AS result prices
improved toa limited extent. Wheat was
firmer and that helped to sustain the market
with the closing at the outside figures except
in lard. Compared with last night May pork
is 10 cents higher, May lard unchanged and
May ribs ~ cents higher.
Estimated receipts for tomorrow: Wheat, 2s
cars; corn, 295 cars; oats, $50 cars; hogs, 3d.
900 head.