The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-01-24
CORN STANDS FIRM
IT ST0UILY R; SISTS THE EVIL EX-
AMPLE OF WHEAT.

Demand for Shipment Being Better Also
it Gains Three-EIghths of Cent--Hold-
ers Selling and shorts Covering, Sends
Wheat Ror,,in: Up and Down But
Mostly Down. Losing the Same That
Corn Gains, the Bears Raiding the Mar
ket Repeatedly--OatsG Go Dragging, But
Make Gains--PrOvisions Go Tumbling.
Chicago, Jan. 23.-Wheat bobbed
about uncertainty today. Pushed down
by free selling and showed up by short
covering. it finally rested % cent lower
for May. Corn refused to follow wheat
and aided by a better shipping de-
mand gained q cent. Oats gained a
like amount but provisions closed lower
all around.
Wheat opened quiet and feeble. Sue
ceeding preliminary decline of % cent
from the closing quotations of the pre-
Vious afternoon, it gathered itself to-
Eether and recovered for a short time
its first decline. In the course of an
other half hour it was once more Strug-
Cling in a death grapple with the bears
on top of ii. Foreign markets were not
SO distreessingly sick as general ex-
pectation had prepared itself for. Re
ceipts hereand in the northwest We're
light. The seaboard sent bearish dis
patches. There were apparently many
long lines hanging by the merest thread
and acting upon that impression, buy
ing bear spectators gave the market
shake after shake. until all the weakly
supported wheat went over and the
shorts were saticfied to cover. May,
which closed yesterday at 55A cents,
opened with sellers a from 55ls cents
TO 80 cents and sold as low a s 541s cents
before it reacted. 1t gained slowly and
reluctantly until it touched 55A G55Ss
cents, at which point vigorous selling
recommended and il gradually worked
back again to 80 cents. AT the latter
price there was a short struggle, out
Of which the bears came victorious
and the price went down with a rattle
to 54l2 cents and after recovering to
SAB d547s cents, it made another dive,
reaching 54as cents. The shorts, who
had been buying freely on all the pre-
Ceding dips took hold greedily and on
so heavy scale that prices rose again
to So cents. About twenty minutes
from the close business had become
Slow again. May closed at 54B cents
Corn acted as regards the wheat
market very similarly TO its proceed
ure on the day before. 1t showed an
Indication Of having more friends and
fewer enemies. The receipts We're 1S5
cars against estimates for 200, and the
demand for car loads through billed,
was sufficient to add from A@1A cent
TO the price paid yesterday. The open
ing prices for May were principally
from 453s cents to 45la cents with sale
or two as low as ASH cents. 1t recov-
cred to ASS cents, dropped back to AIS
az cents. went once more over the
same ground and then rose to ASS cents
resting at ASK cents.
Oats were principally inclined to fol-
low corn. The disposition to sell was
comparatively nothing and some shorts
were still at work covering, but trad
ing was on the whole rather draGgy
and slow May sold from 29ls to 29$s
cents. where it was at noon. The price
advanced to 1895 629$l cents before the
dose and the final sale was made at
BLK cents. The cash business in
oats was active and prices We're very
firm.
After a steady opening and slight
advance provisions broke sharply
There was general selling by packers
end longs and the demand was far from
sufficient to absorb the offerings. May
polk finished 27lz cents lover; May
lard ~ cents lower and ribs az cents