The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-01-09
WHERE IT STARTED
WHEAT MAKES A half CENT GAIN
BUT FAILS TO HOLD IT.
situation Exsctly the Reverse of the Pre-
vious Day and Results Almost Opposite
No Very Good Bull News, Yet Holders
are More Confident-Bulls anticipate q
Decrease In the Worlds Visible Supply
Light Receipts Avert the Worst-Oats
Active and Observation-Disclosures Firm.

Chicago, Jan. S.-After selling up Y
cent on the expectation OF a decrease
IN the worlds visible supply, small re-
ceipts and fair exports, wheat lost its
advance on realizing today, May clos
ing unchanged. Provisions finished
slightly higher.
There was nothing very encouraging
for the bulls in the early news regarding
the wheat situation, and yet the senti-
ment had turned in favor Of the hold
ers. With the English market easier.
Liverpool quoted from Il pence to y
lower and the northwestern receipts,
although light, still slightly in excess
of those last year, the market here was
firmer at the opening and gathered more
strength as trading progressed. The
total of the receipts at primary markets
was 231, 600 bushels against Pei 900 on
this week a year ago. Export clear
ances were $4,000 of wheat and the
equivalent TO liz, 900 bushels In the shape
Of -four. The exporting countries OF
the world, including the United States
and Canada, put afoat 1896, 600 bushels
last week. Continental markets were
quoted firm and somewhat higher at
the opening and were a shade stronger
firm and with an upward tendecy, ac-
cording to a private telegram. Some
business for export was reported at st.
Louis and some little at New York but
the kilograms from the latter city said
that spot wheat was hard to get and
was bringing q cent premium over
May for No. 2 red, which restricted
business. The most favorable item to
the bulls was the expectation of a de-
crease in the worlds visible supply.
These constituted the principal items
of the days news, upon which the
heavy scalpers alternately bought and
sold. Business of any sort was light
The price of May, which hung around
90 cents and 5S1s cents for half an hour
at the start, gradually improved to 5Sls
cents, but at 12:l5 O'Clock had worked
down again to 5Sb cents. There was
free realizing near the finish and May
sold down to IS cents where il closed.
Corn was very dull and for the most
part worked up or down according as
wheat was strong or weak. 1t opened
4 shade under the value 1t closed at
yesterday, at 473sGiz cents for May and
after declining to AIS cents for a sec
ond or two, it improved by about the
middle Of the session to 4734 cents. La
ter in the day when wheat became
weak, corn followed the funeral in a
mourning coach and returned to about
its starting point. The receipts were
554 cars but for tomorrow $50 cars are
all that are looked for and the latter
expectation prevented the market go
ing quite as far in beariSh direction
as wheat encouraged it to go. The clos
Ing price for May was 471s cents,
which was bid.
Oats Were only fairly active and fell
nff a shade in value owing to quite
free offerings and continued DISPOSE
ton on the part of buyers to hold back.
Later however, the developing strength
in corn was very forward in developing
a similar feeling in oats. The demand
improved considerably with great
many buying orders from the outside.
The market remained firm to the close.
May started at 305s@302a cents. sold
at Boss cents up to 81 cents and closed
at 30a4 cents bid.
Provisions We're in the main firm, sus-
tanned by good speculative buying. The
opening was at slight declines on the
liberal hog receipts and after narrow
fluctuations May pork showed gain at
the finish of ~ cents, May lard loss
of 215 cents and May ribs closed I'M
changed.