The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-04-25
THEY KEPT SELLING
SHORTS FLOOD THE MARKET TILL
NEAR THE CLOSE.
Demand for Cash Wheat Finally Overcomes
the influence of the Selling and an Ad-
vance Occurs After the Bears Have Dis
posed Of Their Supplies--Dry Weather
Continues in the Winter Wheat Area
Corn is Compelled Perforce TO Follow
Wheat--Oats Fairly Active and Firmer
Provisions Dull and Downward.

Chicago. April 24.-The demand for
and sales Of cash wheat at Chicago was
the feature Of today's board of trade
business which in the end finally over
come some persistent short selling and
closed the market at an advence of /,
@1s cent for July, with May at the
same price as on the day before. May
corn closed Is cent higher and May oats
4 cen higher. Provisions finished at
slight declines.
Wheat, which closed yesterday weak
and detected, opened strong and in
good demand. 1t kept up its spirits for
time but heavy selling Of shorts be-
came the feature of the trading for an
hour and there was so much more Of
it than the buying orders could alb
serb that the price soon began to give
way and from 603s cents al the opening
for May there was a decline to 591s
cents and drop in July from 61A
cents and 61h cents about the opening
to 60la cents. The strong opening was
due to the continuance of the dry
weather in the winter wheat country
and the strength of the Liverpool mar
ket in the face of yesterdays decline
here. The market recovered from the
prices last quoted to near the level Of
the opening quotations, but the short
sellers were in readiness for IL and
again gave the bulls more than they
could carry, depressing the price again
to 1915 cents for May and 10 CO.'S cents
for July. A very heavy cash business
was done here although New York re-
ported no inquiry there. Armour &
Co., reported 10000 bushels sold by
them for export: J. ]. Bryant reported
having sold five cargoes already.
amounting together to about $4,000
bushels. Primary market receipts were
2S5,000 bushels against III 900 last week
and $4,000 year ago and experts from
the Atlantic seaboard were only about
10000 bushels in wheat and flour to-
gether. The cash business done here
was the chief influence near the close
and the present selling by the bears all
day was overcome. Buyers finally want
ed wheat after the bears had baled
themselves out, and three being little
more for sale, the price rose buoyantly
in the last twenty minutes of the ses-
sion to near the highest price of the
day for July. The latest trading was
at 591s cents for May and 61kG61K for
July. A report from San Francisco
that the seven or eight million bushels
of wheat belonging to the Fair estate
had been ordered TO be sold and was
depressing the market on the Pacific
coast, was one of the influences which
the market here had to contend with.
The closing demand was such that 61as
cents was bid for July before the trad
ers left the floor.
The corn market was dragged about
by wheat. 1t opened firm at 471k cants
for May and 47A cents for July, sold for
May at from AIS cents and Az cents
down to 4624 as cents and back again
to 471S@A cents again at the close. July
pursued a similar course. selling off to
Az cents and back to 4724@1s cents in
the end. Receipts today were 10 cars.
Oats were only fairly active with a
firmer feeling, influenced By similar
feeling in wheat and corn, dry weather
and some covering by shorts. May
started at 1895 cents. sold to 2S7s cents,
down to 2S1a cents and closed at 2S3s
cents. July ranged from % cents to 2S3s
cents, and closed at 2S4 cents bid.
The provision market was dull and
prices had a somewhat downward ten
dency In the end, compared with
closing prices of the day before, pork
was 121s cents lower; lard ~ cents and
ribe cents lower. The days run of
hogs numbered $4,000 head and for to-
morrow %. 900 are expected, the increas-
ing receipts, with lower prices at the
yards, causing the easier feeling.
Estimated receipts for tomorrow:
Wheat, 80 cars; corn, 225 cars; oats, 10 !
cars: hogs %. 900 head.