The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-02-25

CHICAGO, Feb A.-wheat again declined
today. and May closed with l cent loss. Free
selling, small export clearances, the mild
weather and liberal receipts in the northwest
were responsible for the weakness. A little
buying caused a temporary reaction, but May
closed only IA cent inside figures. May corn
closed "a cent lower, May oats Is cent lower
and provisions lower all around.
Wheat opened weak and with greatly dim
ished activity as com pared with the big busl-
ness of the previous day. The starting price
was at decline of from haas cent, the first
transactions being at from sos to 6o1a cents as
compared with 6ia6l1s cents at the end of yes
terday's markets. During the first hour and
a half, which comprised the larger halt of the
short session, the range for May was inside of
the limits of 6014 cents to SOS cents and CO.'S
cents. Some long wheat was sold out, and
some short wheat covered, but there was not
business enough to suggest that any change
occurred in any important lines on either side
of the market. The more conservative of the
bulls recognize the necessity of patience, but
there is a more radical element on that side
of the market which would be disheartened
by an advance of less than from l to cents
per bushel per day continuously and indefl-
pitely, and are correspondingly ready 20 take
a responding view of their prospects on any
intermediate countermarching during the
bull campaign. These latter were the sellers
of long wheat this forenoon. The cables were
not suggestive OF more than a very lukewarm
sympathy with the past two days advance
here. The weather was mild, with a warm
wave in view. Liverpool was quoted firm at
the opening, but closing easier.
Bradstreet's report gave the exports of
wheat and flour from both coasts for the week
ut ,730, 500 bushels, compared with zoos 900
bushels last week. The general expectation
is that the Monday visible supply will show
decrease of ], zoe, 900 bushels. Comparing the
difference in the relative receipts this week
and year ago, the decrease amounts to some
thing over 1000, 900 bushels. New York sent
bearish dispatches, but reported export pur-
chases of % boat loads. May declined to 90
cents, recovered to $685. cents on little buy
Ing, but was down again to 60a601s cents at
the close.
Corn was dull, the market ruling quiet and
stagnant the entire session, prices keeping
within fractional limits. An easier feeling
prevailed, the market opening off Is cent and
sold down a cent the most all of which was
due to the action in wheat At the decline.
the price held steady and the market closed
with the price of May at the bottom figure.
In oats there was moderate trade and an
easier feeling due to sympathy with wheat
and corn, and on prospects of an increased
demand. Prices receded "a cent and the
market closed quiet at the inside.
Provisions were weak and lower and easier
early on the weakness in live hogs at the
yards, the decline in wheat and free selling of
pork by prominent broker, and lard by
leading packing institution. The volume of
trading was very light with no outside sup
port. A moderate reaction in wheat, little
later on, was responsible for the market i'm
proving to the opening prices of the day.
When wheat broke this market declined in
sympathy below the inside prices OF the day,
and then rallied to partial extent shortly
before the end of the session on a little buy
ing. The market was an extremely narrow
and featureless one, with pork and ribs
closing steady and lard firm. Compared with
last night. May pork is ~ cents lower May
lard cents lower and May ribs cents lower
Estimated receipts for Monday: Wheat, 40
cars; Corn, $50 cars; Oats, los cars; Hogs, 49,
900.