The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-12-24
TAKES TWO SPELLS
WHEAT GOES WEAK, THEN GETS
STRONGER THAN AT THE START.
Jump In Stocks Firms the Early Curb and
Northwest-ysible Supply Anticipation
then scares the Heart Out of the Mar
ket Until it Proves Measurably False
Advantageous Aid the Recoverable
cember and January Corn Higher Since
Saturday-Oats Decline.

hCSAhCs
Chicago, Dec. 23.-The wheat market
was in a, fitful mood today and had two
radical changes in its temper. II open
ed strong, then became very weak, but
wound up by getting into a more pro-
nouncadly STRONG state of feeling than i;
started with. May from ISIS cents
near the opening, fell to 57A cents bid,
and closed when a 5Sq5S1s cents was
the current trading price. Corn, oats
and provisions all shrcwed resistance
TO any further decline. principally be-
cause of a confident expectation that
congress would take prompt action 10
insure some relief to the unsatisfactory
condition Of the currency.
The jump in stocks influenced the
traders in wheat on the early curb and
the price fiTmed up TO IS cents for May
before the regular session began, the
closing price on Saturday having been
575s cents. Besides the rise in the price
of railroad securities the northweStern
receipts Of wheat showed a distinct
falling off, and the weather was still
rainy over the winter wheat region,
with an ominous probability still hang
ing over II of a severe freeze follOwin 9
the lately prevailing wet spell. The
prospective increase Of 1900, 900 bushels
in the visible supply was disregarded or
forgotten for about an hour after the
market opened, but that weighty in
f1uence began TO press for attention
again before another hour had gone by,
and the iniatory feeling Of greater Sc
curity in the surroundings of the mar
ket gave place TO a renewal OF despon-
dency. Statistical matters connected
with the weekly movement were rather
favorable for the first bulls. The En-
giish visible was estimated to have de-
creased 1900, 600 bushels, $4,000 bushels
of that being at Liverpool. The amount
on ocean passage increased only $4,000
bushels. The visible in this country
and Canada increas ed 1854, 900 bushels
after giving early indications of an in
crease Of some thing like 1.000,000 bushels
more than that. The total amount in
sight now is So, $685. 900 bushels, as against
s9,071 900 bushels a year ago. After
starting at from SO cents up TO 5S14
cents for May delivery, the price worked
off gradually because of the big de-
crease which was showing upon the bull
letin board as returns came in for the
making UP Of the visible. It got down
to SIX cents before giving any indica-
ton of reacting. At the latter point 1T
turned up again, first on the visible
proving smaller in its increase than eX-
pected, and next on reports of 440 car
loads having been sold in New York
for export; on that the price near the
close had got up to 5s1z cents bid.
In corn there was some nervousness
regarding the January. delivery but the
fluctuations in its prices were confined
to Il cent per 'bushel range. The trade
was largely of a scalping character.
The increase in the visible was only
$50, 900 bushels, against ] ,06S. 900 bushels
increase a year ago. The following are
the changes in values since Saturday:
December Is cent higher; January about
Is cent and May without change. Oats
were steady, with a good demand for
May at the low prices. May opened at
19&191S cents, sold at 1915 cents, declin-
ed to 1S5s&19 cents, and rested at 10
cents.
Provisions were in improved demand
and firm. Although the business done
was small, packers were reported to be
giving the mraket a helping hand IN
the weaker moments. and even during
the sick spell which wheat suffered from
in the forenoon, the hog products were
held comparatively firm. The advances
for the day Were: In pork, ~ cents,
lard 215 cents for May, with January
and ribs had a similar gain
to lard.
Estimated receipts for tomorrow:
Wheat 235 cars, corn $40 cars, oats go
cars. and hogs $4,000 mead.