The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-05-30

Chicago, May 2e-The weather ruled
the grain markets today. Hot, dry
| winds sent them UP sharply and alter
nate promises Of rain and frost kept
them nervous. but in the end desire
to even up the rates over tomorrow
holiday resulted in a lower close than
yesterday. Provisions were strong and
higher on light receipts of hogs and
outside buying orders.
Wheat opened with bulge Of IL
cents per busheI and for about half an
hour it looked as if it had gone up to
stay About the end OF that time,
however, the signal service prediction
took hand in the game and threw its
influence on the bears. 1t predicted
generally showery weather for the win
ter wheat belt, and tomorrow being
holiday, the longs thought it well to
anticipate the probable effect of heal
ing rain upon the wounded wheat
plant. They knew that whatever
wheat they owned at the cloes of to-
days market they would require 10 re-
main in possession of till Friday morn
ing, and they accordingly began, after
the weather prediction became public,
to dispose of that part of their surplus
which they keep to feed the bears oc-
casionally. a prominent operator re-
marked that the market was "a good
deal stronger than the bulls. They
kept selling out long wheat without
hurting the price much" They turn
ed il down, however, from around 50
cents for July TO s012 cents, and it was
considered pretty good break. The
decline to S01h cents referred to was not
he .frs as ha 1n,r
covered to Sl9s cents and then broke
to S0H cents. The rain predictions
were on several occasions the predomi-
mating factor and the fact that the
price was above so cents appeared to
impress certain part of the bidders
with a hope that it was about TO re-
visit its ancient stamping ground
around 90 cents. The other part had
no such apprehension and bought
with sufficient freedom on each break
to cause a rapid recovery. 1t recover
ed from sou cents to sly cents again
before ii once more remembered that it
was still subject to the possibilities at
tending a rainy holiday.
The corn market was strong and ir-
regular at the opening and after an adj
vance of rs cents it dropped back until
al one time there was a loss of q cent.
In the end the price for July WAS Il
cent lower than it closed yesterday and
September g cent lower. The open
ing price of July was over a range of
from 545s cents to 55 cents, with 55I
cents paid very soon thereafter. In
an hour from the start it was down to
81 cents and sank irregularly after that
to 531s cents with a recovery TO 53A
cents at the close. 1t was a weather
market, pure and simple.
Oats were wild and panicky at the
opening with very wide range of
starting prices. the net advance of
which was from 21s cents TO 2Ss cents
from yesterdays last quotation. The
activity and higher prices We're entirely
influenced by reports of crop damages
The early strength moderated greatly
after the traders had Gained down.
TIL decline in wheat was followed,
showing that that cereal still has
good hold on oats, and the market was
more settled during the rest of the day |
July opened from 80 to SO cents, fell off
gradually to 81 cents and a t noon had
advanced again to 311a cents. The close
showed the market again a 81 cents |
which is Is cent higher than il closed
yesterday. The activity continued /
right up to the end. Country orders !
were principally urgent earlier in the |
season, but later il was everybody in /
general. both buying and selling.
Provisions We're firm and closed high |
er to the extent of 221a cents in pork, /
1917 cents in lard and 10 cents in ribs. !
The commission houses appeared well /
provided with outside buying orders /
and on the advance the packers sup |
piled the demand.
Freights firm at 12s cents for wheat |
and IA cents for corn to Buffalo.
Chicago Market.