The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-02-07

Early in the Day It Drops Down to Where
the Shorts Can Reach it ard Vigorous
Buying Sends it Sailing-After a Period
OF Hearine7s i: again Rebounds Near
the Close-Iv..e;.. Receipts AIarmingly
Span-Foreign Markets Weaker at
Closins-Oats Higher and Demand Good
Provisions Quiet and Higher.
Chicago, Feb. 6-Aided by liberal
buying and vigorous covering by shorts
the corn market led the dance on the
board today, and at lines to a rather
merry tune. Corn closed with gain Of
15s cents and wheat Il cent per bush
ell Provisions managed to work their
way up a trifling extent Oats finish
ed Il cent higherforMay.
Wheat opened weak at Il cent per
bushel lower than it closed yesterday.
The chief reason for the opening weak
ness was the small amount of actual
cash business reported as having been
done at the board yesterday and the
fact that much Of the buying which
caused yesterdays advance here was
credited to the influence of the improv-
ed foraign demand. Everything re-
ceived by wire in the first two hours
of the session was bullish and an adj
vance soon succeeded the opening de-
cline. The receipts of wheat at the
principal markets were almost sub
stantially small; small in fact. and ex-
ceedingly SO in comparison with those
of the last two years. The total pri-
mary market receipts was about $4,000
bushels compared with 5000 on last
Wednesday and 417,000 on the CORES
ponding day last year. The early ca
Diagrams reported Liverpool Y pence
higher, but rather ''toppy." Paris was
10 centimes higher and Berlin from IL
to IL marks higher. Bradstreets
made a net increase of 942, 90 bushels
in the stocks of the world. The closing
cables came weak from Liverpool and
quoted a decline of Y pence from the
opening figures; Paris was unchanged
and Berlin had but ! mark of its early
gain. The great strength displayed by
corn was very helpful to wheat and
caused a further advance after. that
which at first started from the early
strength of foreign markets and the
small receipts were apparently on the
turn The weakness of the closing Liv-
erpool cable, dulled by the buying ardor
caused the market to act rather heavily
In the last hour of the session. From
b31a cents at the start, the price OF May
dipped to $685. cents, then rose to "a
cents and worked down again to 531a
cents. Near the close twas quiet at
533s cents, but the strength in corn
again influenced the price and May
closed at 81 cents.
Corn opened with but little change at
a. cents for May, and influenced by the
early weakness in wheat, touched 43s4
cents At that price there was much
more stuff wanted than was offered
he ,apin cto ~ cd wit a
shorts covering vigorously. The mar
ket began TO sag after reaching 45G45k
cents, and for time acted heavy ana
dropped back to 44% cents. About ten
minutes from the close, the buying was
renewed with more vigor than before
and in the end, the price was 45js cents
and the pit full of excited traders, buy
ing and selling at that when the closing
he'll sounded. Through-billed corn was
III brisk demand in the car load market
at ~ cent advance Buying orders
from St Louis were numerous
Oats met with a good sale and under
= generally good demand and SYM
rGthy with corn, prices were higher
Nay sold from % cents. the opening
price, to 2sA cents, and then gradually
advanced to -291s cents at which price
TIE market closed. The cash market
for oats, while not very active, was also
considerably firmer and could be cred
tied with helping the advance in the
speculative crowd. The anticipated
storm for tonight rather encouraged
holders to await developments and per-
haps obtain their prices, as the receipts
for tomorrow are fixed at only sixty
five cars.
The provision market was quiet The
fluctuations appeared to be controlled
entirely by the course of the grain mar
kets and as they were in the main
strong and the receipts of hogs less
than expected, provisions ruled firm.
May pork opened at S10.071a. as COM
pared with SO yesterday afternoon. 1t
rose to s10.221a and closed 20 cents high
er at 5000. May lard rose 2Ib cents at
the opening and did not vary from that
over 21a cents above or below. 1t
closed at $751; as compared with
s6.62ls yesterday. Ribs closed with
sellers at s5.321A against s5.22l9 yester-
day.
Estimates for tomorrow: Wheat Is
ears; corn so cars; oats Go cars; hogs
20 600 head.
Chicago Markets.
The leading futures ranged as follows:
Articles. Open'g Hight Low't Clos 6
Wheat No. p
Feb ....... SOS 81 59l4 soss
q ~ m I'll