The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-01

4
Chicago, April 3e-W-heat had a mid
day period of weakness today, but in
| the first half-hour of the session, and
again during the last hour of the ses-
sion, it was very firm and closed with
net gain for the day of Il cent per
| bushel, the closing strength being due
to rumors of a Spanish removal OF
| grain duties and strength of outside
markets. Changing May holdings to
later deliveries was the feature of the
days trading in all the pits. The clos
ing prices for corn, oats and provisions
| were each at a shade of improvement
for the day.
Moderate speculative activity was re-
ported in wheat, the market showing
but Vas cent range. Operations con-
tinued chiefly local and liquidation was
again a feature, the May-July spread
widening a little at 2cents, as compar-
ed with 114915s cents late yesterday.
The early firmness was due 20 a great
txtent to the weather conditions in the
spring wheat territory, and the rather
gloomy reports from that section re-
garding seeding. The map showed
heavy rainfalls in both Daotas and in
Minnesota and Iowa, there being a
perfect deluge in the Red river valley.
Private advices. came very bukllish and
there was fair outside buying, a good
deal Of which was for st. Louis ac-
count The result was that the shorts
were disposed TO cover and there was
some buying for the long account, and
with less selling pressure the market
displayed much strength. The Argen-
tine crop news, which was such a weak
factor yesterday, was but little talked
of today, in which the pretended report
did not appear a Washington dispatch
of any of the market papers and was
generally voted as a pure fake. AS
the session advanced, offerings greatly
increased, the selling being largely on
the professional order, and prices final
ly yielded, touching the low point of
the day. The market was further de-
pressed on the report from New York
that between $4,000, 900 and $1,000. 900 of
gold would go out on Saturdays steam
ers. July opened A@as cent higher, at
63ss G6311 cents. The price rallied
sharply just before the close on the re-
port that the Spanish government had
taken action regarding the import du-
same. Room traders who were short,
covered on the rally and the market
became very strong, jumping to Ga cents
where 1t closed.
Corn was heavy during the greater
part of the session, most of the bus
mess being liquidation of May holdings,
and the latter month closed Is cent
lower than yesterday. July responded
to the strength, opening Il cent higher,
at S0as cents, and, though declining
fractionally, finally closed steady at
the opening price.
Oats were active and quite a heavy
business was transacted. principally in
May liquidation. This was a source of
considerable weakness, May selling at
one time at 179s cents. breaking the low
price record by a full cent. July open
ed unchanged at 1919 cents touched 1915
cents, and closed at the opening price.
Trading in provisions was fairly ac-
tive. The opening was again weak and
lower, due, as usual, to the weak hog
also an essential in softening prices.
Later, however, a brisk buying move
ment set in and, aided by the closing
strength of wheat, prices rallied. July
pork closed 10 cents higher, at $685.;
July lard 215 cents higher, at s4.S5, and
July ribs cents higher, at 1920.
Estimates for Friday: Wheat II cars;
corn 80 cars; oats 225 cars; hogs $4,000
head.