The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-05-12
FIRMED ON FROST
JULY WHEAT CLOSES HIGHER
AFTER AN EARLY DECLINE
Wheat Begins Where the Curb Left on.
Opening Lower Than Yesterdays Close.
the Government Report Having Oper-
ated observation-disclosures of the
Shorts are Upse: by Predictions of Frost
in the Winter Wheat Bclt--Corn starts
Dull. but Wheat Aids It--Free Selling In
Oats--PrOvisions Gain.

Chicago, May 11-After an early de-
cline, wheat wound UP firm today on the
frost scare. July closing q cent higher.
July corn closed Z cent lower and July
oats Is cent lower, while provisions
made slight gains.
Wheat opened at from 623s as cents
for July, as against 637s cents at the
close of the previous days session. That
decline was in continuation and in con-
sequence of the effect If a decline on
the curb yesterday afternoon on the
government report. Apart from the
government report and some more rain.
the news OF the day for the most part
was bullish, and the market soon began
to feel its effect. The shorts expected
to find enough long wheat for sale for
their wants and enough over 10 keep the
market declining while they We're Sc
curing their profita. IL was not that
sort of a market. Frosts We're predict
ed for many sections OF the winter
wheat belt tonight and the belief was
expressed that while they are likely to
do more 10 retard the hitherto too rapid
growth, they may cause the replantlng
of good deal of corn and in that way
sympa thetically effect the other cere-
ais. The shipments from both coasts
for the week, including both wheat and
flour. were 2.S05.000 bushels against p
$50, 900 a week ago. For twenty-four
hours the Atlantic clearances were $780,
600 bushels, 800, 900 bushels of which was
in the shape of raw grain. The foreign
markets were all lower but this was
owing to American advices, the private
cablegramS said. Minneapolis and Du-
luth reported receipts fla cars COM
pared with III cars year ago. De-
creases since a week ago are thus es-
timated. according to kilograms from
the following places for the respective
elevator stocks: Duluth. 400, 600 bush
els: Minneapolis, 10000 bushels, and
st. Louis, 100000 bushels. Over 1000. 600
bushels decrease is looked for in the
visible supply. The market began to
rise Immediately after the opening and
continued ascending steadily to the
close. From 627s cents there was an ad-
vance TO 6414 rs cents toward the close
and with 644 cents the latest trading
price. The prediction of general frosts
throughout the west and northwest
were largely instrumental in giving the
market its firm tone.
Corn was dull and inclined to go low
er for a time, but began to look up
again when wheat commenced to show
such cheerfulness. The opening for
July was at from 501a down TO SOS
cents, and it struck 80 cents before 1t
cents and from that declined to SOS
cents before it made d final rally to 5012
cents. The trading at the close was
50$s61h cents. Receipts 223 cars. The
Liverpool market is quoted firm at q
pence higher.
Oats was lower and for Saturday
a good business was transacted. Free
selling by Patten Bros. Darlington
Hannah and Bartlett-Frazier caused
the weakness. Toward the latter part
of the session these firms were en-
deavoring to recover the market by
taking back a portion of their dispos-
ais This they did TO some extent, but
the rally did not reach yesterdays last
quotations.
June started at 2SA cents, sold at 2sis
cents, declined to 2S cents and closed at
2S3s cents. July ranged from 2SA cents
to IS cents and closed at 2SL cents bid.
May for 1896 was very active, showing
considerable strength when compared
with the near deliveries, opening at
29z cents, touching 29as cents, and adj
vanced to 297sQ3 cents, where it clos
ed.
Provisions closed with slight gains
after a very quiet days trade. Hog re-
ceipts were 5000 and for next week
135, 900 head are estimated. Compared
with the previous days closing prices
for September, pork is az cents higher;
lard and ribs each 2ia cents higher.
Estimated receipts for Monday:
Wheat, 26 cars; corn, 293 cars; oats, 226
cars; hogs, 5000 head.
Chicago Markets