The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-04-27

Result of Which is a Sharp Advance, July
Wheat Closing a Cent and an Eighth
Higher-Local Spectators Sell Freely
at the Opening While Waiting for Rain
domestic Movement Not at All Bull
ish--Rainy Weather Business in Corn
Identical With That in Wheat-Oats
and Provisions Higher.
Chicago April 26-After an early dip
of u cent wheat advanced sharply to-
day on reports of heavy buying for ex-
port, and with shorts covering vigorous
~, July closed rs cents higher. Corn
gained Il cents, July oats Il cent and
provisions closed slightly higher.
The weather map showed moderate
rainfall with prediction of more rain
and of a more general character in the
winter wheat belt today and tomorrow.
A number Of local spectators were
waiting for rain as an assurance that
wheat would certainly be on sale for 1
cent per bushel on its appearance and
that contingent of the crowd were free
sellers at the opening from g cent be-
bolw the closing price of the preceding
session. The demand at the conces-
sion surprised the sellers and in few
minutes the latter were clamoring to
get their wheat back at u cent per
bushel. more money than they had sold
at. There were numerous buying or
ders at the opening from New York
and those were posted in consequence
of similar orders received from the
United Kingdom. The foreign mar
kets were all higher. Liverpool bids to
New York exporters were at an advanc
from yesterday of q cent per bushel
and advices from there were that the
movement of wheat from La Plata was
practically over for the season, the lat
ter being very important if true, and it
came from highly responsible source,
had double this TO do with the strength
which succeeded the early weakness
here. About two hours from the open
ing New York crowded the wires with
dispatches stating that there was a
good inquiry there from exporters and
followed that up by advising sales of
about thirty boat loads, twenty of them
for Liverpool. July wheat which sold
at the opening as low as 60A cents and
had risen gradually to 613s cents,
sprung to 62H cents on the export busi-
ness reported from the seaboard. The
domestic movement Of the day was
anything but bullish. The total re-
was 2S9,000 bushels compared with 1884,
900 on the corresponding day of the
year before. The Atlantic seaboard
exports amounted to only 1000 bushels
of wheat and q, 900 barrels of -four The
number of boat loads taken in New
York was SweHed indefinitely by the
lumor here before the close and ii be-
came known that some portions of the
New York sales were filed here. Nor
ton & Wright worked 10000 bushels for
direct export to Liverpool and one or
two other cargoeS in addition to that
were reported to have been disposed OF,
but could not be traced tc a confirma-
ton. The shorts became very much
alarmed by those reported cash sales
and ran the price of July wheat up to
62& cents and it was still bringing 62Ss
az cents at the close.
The corn market was weak at the
opening on account Of the heaviness
in wheat The rains were also con-
ducive to the comfort of the shorts
but with the great improvement in the
demand for wheat which so quickly
sprana up. the shorts began to feel less
and like their neighbors
in the wheat pit they were soon buy
ing back their rainy weather corn at a
loss. Business was rather light and in
the end the price Of May and July
closed at Az cents for the former and
IS cents for the latter, which was the
heaviest price of the day. Receipts
today We're 2S4 cars.
Oats were active and about steady
Early in the session prices ruled a
shade lower, Influenced by free offer
ings. Later. however, buying was
good and that, with the strength in
wheat caused values to rally. July
was especially strong. being wanted
May started at 2S3s cents,
sold up % cents and closed at 2S7s !
cents bid. July sold from 2S2s cents to
2SA cents and closed at Il cents higher
at 2S3s@2SA cents.
The provision trade was moderately |
active in spots and during the re
mainder of the session. Only $4,000 /
hogs were received today and but s.
BOO are estimated as the run for to- |
morrow. Opening bids Were at the |
lowest values of the day. After an ad- !
vance of 1212 cents July pork closed |
with a net gain of cents, lard in the |
end was unchanged.
Estimated receipts for tomorrow: |
Wheat. go cars; corn. % cars; oats, $50 |
cars; hogs, 5000 head.