The Wichita daily eagle., 1895-04-21
NAY GETS TO SIXTY
ENORMOUS COVERING OF SHORTS
SENDS WHEAT SAILING.
Fridays Covering is Carried Over--Country
People Pile up Orders During the Night
demand for July Most Urgent--An
Available Wheat East of the Rockies is
in Chicago--Exports and Home Con-
sumption Competing for It--Heavier
Exports--Light Receipts--Shorts Cover
in Corn, Also--Oats Active and Higher.

Chicago, April 20.-Enormous covering
by Partridge and other shorts sent wheat
up al a dizzy gait again today. The mar
ket gained about cents per bushel since
; the close yesterday and on the curb after
the close of the session, there was a
struggle for calls for Monday on May
wheat at from Gil, TO 63 cents. Corn
had somewhat similar experience with
wheat and rose under il rs cents per
bushel, and oats gained :. cent. Pro-
visions ruled strong but firm and made
| moderate gains.
Wheat opened with surprising strength.
The fact that Partridge mad covered 10
tween four and five millIG,i bushels OF
shorts yesterday did not prevent people
IN the country from sitting up 10 send
night messages TO buy wheat at the open
be full of buying orders at the start and
instead of sellers of May at 5SisM5si.
cents, as at the close of yesterday 5
session there was buying at from So to
5SSs cents. Under such conditions of the
local holdings, an excited advance in the
first half hour was unavoidable. The
| demand for July was most urgent. II
closed yesterday at 59ls cents, and in
less Than twenty minutes it was bring
/ ing So. cents, comparing that with 5ei 1
cents: which it sold at on last Monday.
showing that the market is doing quite
well Pardridge and Leeming. whose
principal customer is Ed PardridSe.
bought freely of july: Rosenkranz, who
stood out on his short wheat through yes
terday'S raZZle. came in this morning, and
some buying in of wheat on account of
what they had bought of Pardridge was
done by tvo or three houses with whom
this sret hlatcr in question had been slow
i'll putting up margins. me io-al speed
latiVe conditions We're the chief factors
iII the market. The principal item is
that practically all the available wheat
east of the Rockies is in Chicago and the
| evidence needed
both for export and home consumption.
| With domestic and foreign milicrs IN
open competition for ii the possibilities
on that account alone are not a pleasant
contemplation for the shorts. The week S
exports We're 3,1S5,o0 bushels from both
coasts, compared with 2,s3iUW bushels
receipts for the day were ao,0oo bushels.
against 2a0.000 bushels a year ago. Coun-
try inillers bought D,G00 bushels No.
red here al the May price The shrewd-
est traders in the pit were wOfully de-
Ceived in the course of the market after
its inst lively advance to 59$s cents Tor
Nav and 601s cents for July. In the
last twenty minutes of the session the
excitemen, was redoubled. May rose
to so and July to 81 cents, and those were
the prices at the close.
The corn market was also all torn
up by the distracted condition of the
shorts. Captain Phillips was the most
prominent local short and commenced
early in the day to buy In short corn.
competition added to limited offerings,
the market became very active and the
prices shot up excitedly and closed with
May at 47l2 cents and July at Az. cents
oats developed considerable activity
and heavy business was transacted.
Prices closed at the high points of the
day. The advance was principally the
result of a scare among shorts and buy
ing was heavy by all Nheat ana corn
showed such extreme strength that they
were very influential in marking out the
course of oats, although the firmness was
principally independent. May sold from
2S3s M2SI. cents UP to 29ls cents and closed
there July started at Il. cents. sold
up to 2ss. cents and rested at that price.
Provisions were firm but comparatively
steady. AT the close May pork had gained
5 cents and ribs 21a cents. Lard was
practically unchanged. The hog receipts
were 1000 head. For next week 100000
are expected. The strength came from
the light hog receipts and the advance IN
grain.
Estimate for Monday: Wheat. 10 cars
corn. 290 cars; oats, $50 cars; hogs, D,uo
head.