The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-02-22
HELD ONLY A PART
WHEAT NAK3S AN EARLY GAIN
OF A GOOD HALF CENT.

French Frost Reports Generally Contra
6icted, but the Foreign Advices Come
Strong Receipts Not Sc
Heavy-st. Loui. Sends Plenty of Bull
ish News Realizing Sales Whittle
Down the Advance to One-Eighth Cent
Corn Makes the Same History for
the Day as Wheat-Oats Active.
Chicago, Feb. 21-Wheat was gener-
ally firm today on encouraging foreign
news and made half cent gain early
but realizing at the advance resulted
in a reaction which left May but Il
cent higher at the finish. May corn
gained Il cent; May oats closed I'M
changed and provisions closed at
Slight declines.
Wheat had lost some of the bearish
spirit with which it closed yesterday
when trading commenced. The report
circulated yesterday with reference to
frost damage to the French crop was
generally contradicted. The foreign
markets were, however, firm, and while
the seaboard said that they had re-
cable offers, the advices from there
We're that bids were close to the mar
ket and the tone of foreign advices gen
orally strong. The northwestern re-
ceipts were not SO conspiciously heavy
as on the two preceding days. The
market ruled firm at the slight decline
which occurred at the opening and
worked it way up very slowly from the
time of the opening until noon at which
time May had reached $685. cents. st.
Louis kept sending builish messages
and New York also appeared struck
with desire to buy a st. Louis mes
sage received about noon said that the
sender of it today sold 80, 600 bushels of
wheat to go TO millers in Tennessee
and had inquiries for another lot of
10000 bushels which he expected to sell
before the day was out. A New YORK
message had the following: "A Liver
pool house here for whom we bought
this morning tell us that these orders
were given owing to crop damage IN
France" and the fact that cables quot
ed ninety centimes advance in Febru-
airy -four and fifteen cetimes rise in
March wheat, while Berlin was quoted
one mark higher. gave apparent conflr-
nation of unea SineSS over there. Those
latter items caused the advance to 53@s
cents. The taking of profits after the
advance referred to was too general 10
permit of the price being maintained
and although a suspicion became very
general toward the end that under
meath the smoke of French crop dam
age some fire existed, still enough
wheat was sold out to cause reaction
to 53G521k cents with 53A cents the
latest trading prices.
The local feeling in corn was bullish
ali the forenoon and it took precedence
Il II s11,
1t opened easy and 4 cent below the
closing figures of the previous after
noon but soon changed all that and be
came decidedly strong. May opened at
44S cents and about II O'Clock was IN
brisk demand for moment of two at
49, cents. There was extensive reaiiZ-
ing at the advance and about half an
hour from the close the bull feeling
was apparently ooZing out. AT the
cl3se there was sellers Of May at 10
cents. The early strength. II was re-
marked. was due more to the SmallneSs
of the offerings than to the extent Of
the demand.
A very active session was passed IN
oats. During the early part of the day
shorts were buying and helped the ad-
vance Fluctuations We're principally
governed by corn. May started 4 cent
under yesterdays last price at % cents,
sold up to 29ia cents, back to 293s cents,
up to 291aG2 95s cents, and weakened
again, resting at 29s291A cents.
Provisions started weak on the large
hog receipts. The upward course OF the
grain market caused a reaction in the
middle of the session but the receipts
proved too heavy a load to admit of
firm market and the close was at the
decline. May pork and lard each clos
ed cents lower and May ribs 21a cents
lower.
Estimated receipts for tomorrow:
Wheat, % cars; corn, 215 cars; oats, 191
cars; hogs, 1000 head.