The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-05-18
IT BEATS SEVENTY
WHEAT OPENS HIGHER AND KEEPS
ON CLIMBING.
arket Opens at From Three-Fourths to
One aud an Eighth Cents Higher, Alb
sorbing Immense Quantities, All the
Time Observation-Disclosures Thousand
Bushel Lots Change Hands Rapidly
Crop Damage Reports Cause the Bulge
Corn Lower on Large Receipts--Oats
Higher--Provisions Little Changed.

NEUTRALITY-SUSPICIOUS. Little Changed.
Chicago, May 17.-Wheat climed above
20 cents today, July closing at 70hGH
cents, almost cents higher than yes
terday. Crop damage reports were the
main factor in the bulge. July corn lost
II cent, September oats gained y cent
and provisions finished with but little
change.
There was no weak spot in wheat at.
the opening. 1t differed in that from
its action yesterday and the day before
/ started with buyers and sellers frcm
e91s to 691z cents or from 3. to ] Is cents
per bushel higher than it closed yester-
day. 1t absorbed immense quantities
at between 69A G6915 cents and was Of
course poured forth with equal liberali-
~ a the same time. Commission hous-
es who had been among the most prom
inent buyers for a couple of weeks had
for the time appeared to have unlimited
selling orders and the general impress
sion was that il was long wheat they
were diSposing of. More than two or
three houses disposed of 1000, 900 bushels
apiece in the first half hour of the ses-
sion and 100000 bushels lots changed
hands rapidly. But the market was
gluttonouS a THE time and not only
gobbled it all up, but climed to 30 cents
while it was taking on the load. The
latter price on the advance was only
realized for one 5000 bushel lot, but at
went on for a minute or two. That
6S3s cents big give and TAX cuisines
was the elimination of the forenoon
bulge. The heavy realizing sales began
to tell after that and before II o'clock
the price had reacted TO 6S12 cents. The
strength was a continuation or the ef-
feet of the damage TO the growing crop
in its effect upon the minds of the peo-
pie in the country. Wheat was worked
to go from here by water to Detroit
and numerous dispatches were in for
the handlers of cash grain from coun
try millerS ordering anywhere from five
car loas to 10000 bushels each. Those
orders came from various points in
Michigan, Ohio, and Indiana The crop
damage reports received were quite
convincing TO unprejudiced minds and
those in the end were in the majority.
to judge frim the action of the market
after its forenoon break. About ten
minutes from the close the price of July
wheat was I0A cents, or cents above
the price ii closed at yesterday. For
eign markets We're higher, but seaboard
advices We're that the price ruling on
this side was from to cents per BUSH
Ell above a working export basis. Min
neapolis and Duluth were 142 caes as
against IA year ago. Exports of
wheat and flour at the Atlantic sea-
board were equal to 2S5 bushels. The
market closed at 70s@A cents for
July
Corn receipts numbered 60i cars and
estimates for $50 for tomorrow were
too depressing in their effect TO main
tain corn even with such support as ii
and except for moment or two at the
beginning the feeling was heavy. The
opening for July was irregular at 5l%4
cents up to % cents, but ia was soon
crowded down by liberal offerings to
511s cents. 1T recovered near the close
to SIS cents and closed at 511a@5las
cents against 51A cents on the day be-
fore.
Oats started steady, weak and Off a
bit, remaining so the fore part of the
session, rallied later and closed firmer
at an advance. A fairly active market
was reported. The fluctuations were
largely influenced by wheat and corn.
cents down to 2S1s cents and closed at
2Sl2 cents bid. September ranged from
2SSs to q cents, closing at the latter
price bid.
The provision market was trong at
the opening and rather weak during
the greater part OF the remainder or
the day There was rallying near the
end, which left prices about on a level
with the closing quotations of the pre-
vious day. The hog receipts were on
ly q, 900 against 81. 900 as estimated yes
terday and that was the cause of ad-
vances at the opening of from ~ to
10 cents in pork, from 21A TO cents in
lard and cents in ribs. The former
dropped 10 cents during the forenoon
and lard and ribs declined about 5
cents each. Before the close the prices
recovered in sympathy with the
strength in wheat to about the level
of the previous days closing prices
July pork closed 211 cents lower and
lard and ribs each 21a cents higher.
Estimates for tomorrow-Wheat %
cars; corn $50 cars; oats $50 cars hogs
Il. 900 head.
The only prizes given with DR.. Prices
Cream Baking Powder are dainty pas
try. spicy, appetizing doughnuts and
wholesome biscuit.
Chicago Market.
The leading futures ranged as follows: