The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-03-30
BY DROUTH
SHORTS GET NERVOUS AND Do
SOME TALL COVERING.

Wheat Opens Irregular With Suspicion of
Indecision Due to the Discrepancy Be
tween the Recorded Facts and the
Weather Bureaus Prediction for the
Day-Later Predictions Decide for
Drouth and Wheat Ad,a1ces--Foreien
War Cloud just Visibie-Corn Neg
Chicago, March GA combination OF
foreign and domestic drought scares
set the shorts in wheat to covering
today and after a, is cent raise. May
closed q cent higher. Corn followed
reluctantly, gaining Is cent, for May,
and May oats closed Il cent higher,
provisions finished with but little
change.
Wheat wa sirregular at the opening
due 10 the weather bureau reports
as they appeared in the morning pa
pers, predicting rain for tonight, and
to a still later forecast issued at
O'Clock this morning and exhibited on
change before the opening, predicting
fair and colder weather for tonight and
Saturday. The opening bids for wheat
were Is cents for My, but 5514 cents
was paid almost Immediately. The
price rose to 555s9%4 cents in the course
of the first half hour of the session.
Shorts were good buyers, exhibiting
considerable nervousness over the crop
situation. There was a suggestion OF
trouble brewing between England and
France in the cable dispatches publish
ed in the morning papers and it was
thought that some of the rather yigor-
Gus buying of the forenoon was due to
that. Dry weather and conspicuous
absence Of offerings We're the CHIEF
reasons, but they were enough 10 put
May wheat up to SO cents before II
O'clock There were also rumors OF
further purchases of cash wheat here
and at St. Louis. which helped the
buyers and increased the scare of the
previous sellers. Export clearanceS
We're fairly liberal, amounting in wheat
and -four to 5000 bushels. Foreign
markets opened without noteworthy
change, but Paris closed weak at de-
cline of from 20 confines to ID cent
lines for wheat and that caused a reac-
ton here. The reaction from SO cents
reached its limit at 551s cents and af-
ter that it worked up again until 56ls
cents was freely bid for a few seconds,
with 1-ls cent over that paid for one
or two lots. The market was active
and nervous. with plenty of sales on
the big bulgeS and hosts of buyers
on moderate breaks. 1t surged UP and
down between 55A cents and So cents
several times and finally closed with
sellers at 553s cents.
The corn market was almost COM
pletely neglected although IL had
range Of 4 cent per bushel between the
extremes OF it's price for the day The
transactions We're extremely small.
The receipts were 1872 cars, or eight less
than estimated yesterday, but for to-
morrow 100 cars are expected. The
opening price for May was 46H cents
but it started up Immediately and did
not stop until ii reached 462i cents, the
advance in wheat being the only APP
parent influence The price dropped
back to around 4e15 G465S cents, where
it remained Uring the greater part Of
the session, closing at 46la cents.
oats were active and stronger with
good business transacted. Fhe de-
mand was urgent and sales made rapid
". May sold up from 291aM295s cents
to 30ls cents, closing after a slight de-
slime at 295s cents. July ranged from
2S3s cents to 29A cents, resting at the
high price. During the last few days
there has been a heavy business done
for eastern shipment in cash oats and
something close to May price has been
paid for any where from 900 to 600.-
coo bushels. The understanding is
that the inducement was heavy cut
in rail rates to the east.
The business in provisions was fair
in amount and the fluctuations were
over moderate range. After an adj
vance of 10 cents pork closed only 2i2
cents higher than the day before; lard
in the end was from 21a to cents low
er and ribs without change, steadiness
coming from the light receipts OF hogs.
Estimated receipts for Saturday:
Wheat % cars. corn 100 cars, oats $50
cars, hogs l., 600 head.