The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-02-19

Opens on the Run, on Account of Estimated
and the Foreign Situation Has Nothing
Bullish About Tt-Ti:ese Points, When
Reversed by later News, Check the
Selling and Give Wheat a Quarter Cent
the Better of It Corn, Oats and Provi-
sions Also Higher.
Chicago. Feb. 1S.-Wheat started to-
day with an apparent attention of TAX
ing dizzy slide down the scale but a
marked decrease in the visible supply
and reported export business at New
York brought prices up with jerk,
May closing Il cent higher. Corn fol-
lowed wheat, finishing Il cent higher
for May, and May oats closed q cent
higher. Provisions ended with moder-
ate gains.
The wheat pit at the opening was
flooded with selling orders at Il cent
below Saturdays closing prices. The
lstest trading on Saturday was at 522s
cents for May and at the opening very
few buyers could be found at 52A cents
AID there We're even more sellers than
came almost Immediately the trading
price. An anticipated decrease in the
visible stocks since a week ago of
nearly 100000 bushels was potent
bear factor. The northwestern receipts
were 15o car loads, wore than those of
the corresponding day year ago.
The weather also was unfavorable for
a continuance Of a free movement from
the farms and country elevators of the
northwest and the foreign situation
was not sufficiently encourag ing to
overcome the bearishness of the do
mestic surroundings. A great deal Of
long wheat was again offered on the
break and although at around 81 cents
and 52k cents, local shorts covered
abundantly. There was little reaction
during the first hour and a half of the
session. The visible supply soon be-
gan to give evidence of a larger in
crease than had been looked for and
when the decrease was ultimately
found to amount to /, $50 900 bushels, or
three times as much as many had ex-
pected, the shorts commenced taking
lack the wheat they had unloaded.
From being quite weak at 50 cents, the
price gradually hardened until about
two hours from the opening it had re-
covered to 52A cents. Primary mar
kets altogether received 259, 900 bushels
against $4,000 a week ago and $50, 900
a year ago. The English visible sup
ply showed a decrease of $4,000 BUSH
els, following a decrease of 1 100000
bushels on the previous week and New
York reported a good business done
there for export. The price advanced
here to 52A cents and closed at 525s
cents.
Corn was weak at the beginning part
Is in sympathy with wheat and partly
owing to the liberal receipts. Later
when wheat had recov cred from its
early depression, corn responded to the
change in tone of its neighbor as well
as to the result of visible supply
statement which showed a decrease of
1000 bushels in stocks since last Mon
day and compared with an increase of
g! 600 bushels a year ago. The Allan
tic ports had shipped literally also and
-. Louis sent a good many buying or
ders. The Atlantic port clearances
amounted to 10000 bushels. The total
in the visible supply is now 1861 900
bushels against 17,7S7,000 bushels last
year at the similar period. Primary
market receipts were $50, 900 bushels
against $4,000 bushels last year. The
C"caing sales of May were at 4i5s cents
with a majority of the traders pressing
sales at that. 1t sold off to 1875 cents
nafore the recovery began but reached
453s cents, closing at that price.
Trading in oats was very scattered
and in only fir volume. Corn intlu-
enced the fuctuation. The feeling was
firm. May started at from 2S1. cents
to 2Sfs cents and sold up to 29 cents, at
which price the market closed. The
discount for February oats was lessen
ed by z cent today by sale in exchange
for May at that fraction. The visible
supply showed a decrease in oats Of
1S4 eco bushels, thereby leaving the to-
tai stock in store 6,9i2, GOO bushels.
Provisions started as weak as the
grain markets, but soon faced about
and wound up higher all round. The
early weakness resulted from the liber-
al hog receipts, out at the decline there
was fair buying, much of which was
credited to Armour and Swift The lat
ter strength in grain also helped the
price. AT the finish May pork was 17le
cents, May lard 21a cents and May ribs
~ cents higher.
Estimated receipts for tomorrow:
Wheat 30 cars; corn $50 cars, oats 80
cars; hogs $4,000 head.
Chicago Markets.
The leading futures ranged as follows:
Articles. Open'g Hight Low't Clos'g
Wheat No. >
Feb -. 4s% 50i4 4sIs 5O1sGA
May ...... SEA 52s4 517sI52 525sES2&
July ...... 90 $500 523s 5S9s
Corn No .