The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-04-12
STORED IN VESSELS
WHEAT KEPT FOB THE WINTER
WHERE KEEPING Is CHEAP.
Reserved Privilege Of Dumping Back Into
the Elevator is Exercised, the News
Whereof Operates to Produce Sharp
Break in the Later Dealings--Govern-
ment Crop Report Receives the Usual
Later--Oats Turn Suddenly Downward
Provisions Run From Strong to Weak.

Chicago. April 11.-Wheat broke
sharply today on the report OF the
loading back into elevators OF wheat
that had been held in vessels, May
closing 3 cent lower. May corn lost
Il cent, May oats lost y cent and pro-
visions finished at a decline
The government report which gave
the condition of wheat at STA made
very little impression on the market.
The price opened just shade under the
rate ruling at the close of yesterdays
session, but soon the slight decline was
taken advantage of by some of the
shorts To lessen the block OF the pre-
vious sales. May sold at 50 cents at
the opening and eased off TO 547s cents,
which latter was the point at which the
shorts bought. The buying by shorts
got a further incentive from the re-
ported sale of 100000 bushels of wheat
taken for shipment to Baltimore early
in the forenoon. The price rose to 55l2
cents under that and rumors of the
likelihood of considerable more be-
ing worked before the day was over.
The northwestern receipts were light,
Minneapolis and Duluth reporting only
geo cars. compared with 1913 cars the
corresponding day last year. Liver
pool was quoted unchanged in price,
but holders were very firm. New York
wired here early in thed ay that for
eigners were free sellers of distant fu-
lures in that market. AT the advance
named above, Partridge and those who
had calls. likewise sold with consider
able confidence, and owing to the fur
Their fact that on tomorrow there will
be no session Of the board of trade. the
bulliSh feeling was suppressed for a
time and the early rise was lost, the
price getting down again to 50 cents.
At about that stage il became rumored
that an operator who had carried a lot
of wheat all winter in vessels, because
1t was cheaper to do so than to pay the
regular storage charges, and had re-
served the privilege of unloading it
back into the elevator again, has seen
fit to exercise the latter privilege. The
market had a further break when the
latter report got into circulation and it
sold as low as 545s cnts for few min
utes and closed with buyers at that
Corn was strong early and weak later.
1T opened ass cents for May, sold off
to 452l as cents. advanced to 1865 cents.
tumbled back to 451a cents and closed
at ass cents. The receipts We're 105
cars and l20 cars are estimated for to-
morrow. The advance at the start was
on "a good demand for May, which
started some shorts to covering, al
though the early buyers Of May sold to
an equal extent. The latter Weakness
was due to the drop in wheat.
Until within an hour of the close, lit
tie of Importance tranSpired in the
oats market. The feeling was firmer
and prices somewhat higher, with fair
buying in sympathy with wheat and
corn. The change in the situation was
sudden and unlocked for. Almost every
body was offering stuff at one time,
longs, elevator people and the crowd in
general. J. J. Lindman and L. 3. Ream
were probably the heaviest disposers.
The early advance of 1s@4 cent was
lost, besides y cent additional. May
started at % cents, sold up to 29H as
cents. and dropped to 2S@s cents, at
wphich price the market closed.
The provision market opened strong
and closed weak at II cents looS for
the day in pork: cents in lard, and
az cents in ribs. The hog receipts
Were $4,000, with 1900 estimated for
tomorrow. The weakness was the re-
suit of lower prices for live hogs and
the break in the grain markets.
Estimated receipts for Friday: Wheat.
50 cars; corn, $50 cars; oats, 100 cars;
hogs, II 900 head.
No session of the board Of trade
tomorrow; Good Friday.