The Wichita daily eagle., 1894-02-22

CHICAGO, Feb. 2l.-There was a big trade in
wheat today, the fluctuations covering rs
cents range. At the close May was un-
changed Free selling and heavy covering by
shorts sent the price up and down the scale
several times during the session. May corn
closed "a cent lower; May oats, unchanged,
and provisions finished slightly higher for
May pork and unchanged for May lard and
ribs.
May wheat, which closed yesterday at co.'s
cents, was offsred at from 60 cents down to
59ss cents as soon as the market opened today,
and for about twenty minutes the tendency
was toward further decline. 1t sold as low
as 59%s cents before the decline was arrested,
By l0:15 O'Clock the price was up to 60l5 cents
a rise of a cent in that time from the early
drop. The receipts were lighter than for a
long time. Liverpool was quoted frmer, at
y pence advance with an improved demand.
The weather in England was called very cold.
Az London cargoes were reported firm, and
held for more money. ParGridge's brokers
filled the crowd up with short wheat as soon
| as the market opened, on orders from him, it
is claimed, and this proved bear influence.
The last-named advance reached 603s cents
before it eliminated and the business done
while it was in progress was lively and of
| considerable volume. New York wired that
second cables were Disappointing more
eigners were sellers of wheat in New York.
That city sent great many selling orders
here before the advance started in. Cudahy
was reported to be diligent buyer Of short
wheat today. Other shorts, with more mod
crate lines, also TOOK advantage of the early
slump to take in their profits. Before the
latter named boom subsidized 6O34 cents was
had for little May wheat. Elevator men
were credited with selling good deal of July
wneat on the bulge, thereby reducing the
premium between it and May from cents to
about 15s cents. Bradstreets report of the
visible supply, as at first received, gave de-
crease of only 900 bushels in the worlds
visible supply for the week. That was after
wards corrected to agree with the details of
the statement, to a decrease of 0O7 900 bush
els. The price of May wheat dropped to $685.
cents on the first report, and reacted to 60k
cents on the correction. There was rumor
about five minutes from the close that the
French chambers had rejected the bill to add
to the duty on wheat, on which the price here
rose to 6Ol4 cents, but it closed at so to 6l1S
cents, with May midway between the top and
bottom figures of the day.
Corn was moderately active, with fair
volume of business early, the market ruling
rather quiet later IN the session. A cOmpar.
ativey steady feeling prevailed. The open
ing was firm at yesterdays closing prizes.
After easing off a cent, it rallied ID to 3s cent,
declined Is cent, and ruled firm. The market
followed wheat to great extent, but at the
top price good deal was put on the market,
which caused prices to recede to nearly the
inside figures, the recovery leaving May at
the close but Is cent from the days top
figures
In oats there was a steady tone. Prices
moved within ID cent range, and closed
about the same as on yesterday. The Offer
ings were light. and not great many were
wanted. The strength came largely from the
advance of Il cent in cash lots. May closed at
the top figure of the day.
With the receipts of live hogs at the yards
less than estimated, and with higher prices,
provisions opened strong at slight advance,
but declined to a moderate extent on the tenn
porary weakness in wheat. When that cereal
rallied the market responded in sympathy,
scoring fair advance. The volume of trad
Ing was light, and the strength was ccntribut-
ed to by the scarcity of offerings, with the
transactions confined to the local operators.
At the close pork ruled strong, while lard and
ribs were steady. Compared with last night
May pork is ~ cents higher; May lard, un.
changed, and May ribs, unchanged.
Estimated receipts for tomorrow: Wheat,
43 cars; corn, 800 cars; oats 10 cars hogs, 26,-
600 head.