The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-02-20
WORKS BOTH WAYS
WHEAT rs DRIVEN ABOUT BY ALL
SORTS OF NEWS.
First 1t IL the Weakening Influence OF
Heavy Northwestern Receipts, Then the
Firmness of Foreign Markets. and Ex-
port Clearances, Then Partridge Goes
TO Selling After Which Bradstreet's De-
crease Chases the Price Up Again-Corn
Has Much the Same Experience--Oats
Quiet, Narrow and Led by Corn.

Chicago, Feb. 19-Wheat was in
clined OF steadiness today, helped by
letter cables and liberal decrease in
the worlds visible supply, but heavy
northwestern receipts encouraged SELL
crs, May closing q cent lower. May
corn lost 4 cent; May oats Il cent ana
provisions finished at moaderte de-
clines.
Minneapolis and Duluth reported re-
ceipts OF $50 cars Of wheat, compared
with only 22S on the parallel day Of
the previous week and POI acrs on the
corresponding day of the year before.
That caused the market open rather
weak and at about "a cent under the
previous days closing price. The for
eign markets were quoted firm or at
least steady, and the weeks shipments
from the other exporting countries of
the world were lighter than on the
week before. That in very short time
more than countrbalanced the north
western receipts and being followed UP
by the figures Of the Atlantic clear
ances and for twenty-four hours, which
proved to be heavy, the easy opening
was succeeded in about ten minutes by
a period of quite bullish activity, dur
ing which May advanced from 521s
cents about the opening to 50 cents in
less than forty-five minutes. a fall
ing off in the Russian shipments was
among the influences which underlay
the bullishness which succeeded the
first weak spell. Later, with Pard-
ridge selling, the price worked off
again on the level of the opening rates
When Bradstreet's statement of the
visable supply came to hand at noon,
the price of May wheat was 523s cents
bid, and although there was a squirt OF
activity following the announcement
and although the report was bullish,
the price only gained Is cent to imme
diately lose il again. The statement
showed a total decrease in the worlds
visible supply of 2,2S0,000. English and
continental markets closed from steady
TO firm, but for a time there was a dis
position to sell, on account of reports
from the Seaboard that there was no
demand whatever from exporters to-
day. The market here began to i'm
prove again and about half an hour
from the close there were buyers at
52S4 cents. At the advance, there was
more selling and May closed at 5Z1s
cents.
The corn market was moved about in
line with the fluctuations in wheat.
The range was not wide but the market
made up for the narrowness of its
Partridge was supposed to be a seller
on the hard spots. The days receipts
were liberal at 447 cars, but only lie
cars are expected tomorrow. Export
clearanceS for the day We're fair. Pri-
mary western markets received 2S7 900
bushels, compared with 655, 900 a year
ago. May opened today at 445s cents
and dropped down to 44ss@44ik for an
instant before improving upon the
starting price. 1t rose to 44% @443s
cents at he time of the early bulge in
wheat, and subsequently rose and fell
number of times between Az @44%@A
cents. and closed at 443s cents.
Oats experienced a quiet session.
fluctuations were narrow, and influence
ed almost entirely by corn. May start
ed at % cents, sold to 29ls cents and
later declined to 2S7s cents, at which
price it closed.
The provision market was quite firm
as long as the packers refrained from
pressing sales, but when they made an
attempt to unload a little, the demand
was not there and the price took an i'm
mediate drop. Business was dull.
Hog receipts being 1000 under the esti-
mated number was probably the cause
OF the early advance. After the adj
vance of 8 cents, pork closed with a
loss Of cents compared with the clos
ing price of the day before. Lard
closed without change and ribs at ~
cents decline.
Estimated receipts for tomorrow:
Wheat, II cars; corn, 155 cars; oats,
$50 cars; Hogs, 33, 900.