The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-01-06
CANE JUST IN TINE
WHEAT MARKET GETS GOOD NEWS
At A CRITICAL hOAENT.
Scalpers Seem to be Selling All the Wheat
on Earth But are Brought Up With
Great Suddennesss Receipts Light
Eyerywhere-British Stock Less Than
Half That of Same Date Last Year
Argentine Crop Reported Cut Almost In
Two-Heavy Buying From New York
Wheat Gains q Cent and Helps Corn.

Chicago, Jan. 5.-The wheat market
| showed more bullish vim during today 8
short session than it has for a month
| back and at the close had gained a clear
1 cent per bushel over yesterdays close.
Wheat set the pace for the other markets,
with the result that corn is q cent higher
| for the day and oats 4 cent higher with
the speculative articles in hog products
also up a trihe. New York's buying of
wheat through numerous commission
| houses and August Gross heavy purchases
gave the market its first upward start.
Wheat perceptibly needed something
to keep il up at the opening today The
scalpers seemed to have the entire crop
for sale at from SIS cents down 10 5Il2
cents during the first ten minutes of the
session. The market received at critl-
cal moment all the support that IL re-
quired and soon the scalpers were as
unanimously trying 10 buy. as they had
previously been DESTROYS OF selling Re
ceipts were lighter than ever and foreign
stocks small and their market steady.
Chica go received forty-one car LOADS.
Minneapolis reported receipts OF IL cars
and Duluth si;:ty-two cars or Isl alto
gether, compared with I'D cars on the cor
responding day year ago. The United
Kingdom stock of wheat and flour was
given by Beerbohm this morning at f.
GO O0o bushels, as compared with 29.OJ0,0c
bushels the corresponding day or the
year before One item of news was to
is anywhere from 70 to 50 per cent smaller
this year than last and of inferior quality.
Several cables gave further confirmation
TO the above report, and heavy buying
orders, based, I was said, upon the Argen-
tine crop failure, was received from New
York. The market from being rather
weak, became very strong. May. which
opened at from 51l3G57.s cents was ca
vorting around 5Sss cents near the close.
great deal OF business was done and
May closed at Ssh cents.
Corn opened very weak, but screwed up
it's courage when the bold advance in
wheat was under way. The opening
price for May was AIS cents and from that
down to 47l4 cents, as compared with AZ
cents at the close yesterday. 1t rose in
sympathy with wheat TO IS cents and
cosed at AIS cents.
Oats We're active throughout the session
and quite a heavy business was trans
acted. Early in the day Counselman and
Bartlett and Frazier offered stuff freely
and broke the market from 30& cents to
3012 cents. Then the disposition to buy
began to improve. Wheat and corn COM
menced to advance and the shorts became
alarmed and bid freely. The price started
to go up and continued to do so until 511s
market closed.
Provisions were very steady and in the
end rather firm. The strength of wheat
helped to sustain the hog market at the
slight advance which marked the opening
prices. May pork started with an advance
of pig cents and after dropping for
while, picked ii up again and closed with
that much gain for the day. Lard and
ribs rested at 2ia cents over the closing
price of the day before The receipts of
hogs were only 1900, as compared with
y. 900 eStima ted.