The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-20
HALF-CENT GAINED
WHEAT REACTS FROM EARLY
WEAKNESS AT LOWER PRICES
Apprehension of n Continuation of Rain in
the Dakotas has Considerable to Do
With the Recovery From the Early De
cline, Which Is Further Aided by Ex-
ports From New York and Baltimore
Hessian Flies in Michigan and Heavy
Rains In Indiana-Corn Trade Moderate
MAY Oats and Provisions Higher.


Chicago, III, May 1a-There was just
fair trade in wheat, chiefly local. the
range for the day being Sq1 cent The
feeling developed early was weak and
lower prices ruled, July selling 10 60&
cents and September to 61ss cents. Later
on there was moderate reaction and
final figures showed 3sq1zc gain There
was lack of outside support, but some
good covering by several prominent
local shorts which absorbed the bulk
OF the scattered offerings, part Of which
was country liquidation On the de-
cline there was a fair buying by local
operators, who looked for some reac-
ton after the late steady decline and
good active covering by shorts. The
prediction of more rain for the Dakotas,
together with better exports from New
York and Baltimore, added 10 the price
and had considerable TO do with the ad-
vance. Railroad officials In the north
west VINO haul the bulk OF the grain
raised in the Red river valley continue
to forward rather gloomy reports as to
the outlook in that section owing to
late seeding. Damage to wheat in
Michigan by Hessian flies appears 10 be
the chief incentive 10 the buying which
put the price up. Indiana also sent
big damage reports. but the recent rains
appear TO have softened the proboscis
Of the flies in Indiana, as the reports
from there were less numerous than be
fore.
There was only moderate trade in
corn, the market at times ruling rather
dull, fluctuations being narrow. The
feeling manifested vas fairly firm. con-
sidering the weather, receipts and &C.
ton Of wheat, final figures showing but
a fractional gain.
Offerings were light and the bulk OF
the selling came from elevator inter-
ests against cash purchases and room
traders Shorts were the buyers, sew
eral of yesterdays sellers covering.
Interior offerings were increasing and
last nights bids to the country brought
a good many acceptances this morning.
Oats were steady and closed Il cent
higher for May, unchanged for July
and Is cent higher for September. The
selling was mainly by elevator people
and receivers who had liberal accept
ances Of bids sent out yesterday. There
vase fair buying by parties who were
supposed to have made large cash
sales TO the east, and unconfrmed ru-
mors OF 100, 900 bushels No. selling for
shipment Provisions started firm and
then on heavy selling they fell Of. Later
the market was improved by heavy
buying and in the end pork closed ~
cents higher than il did yesterday,
with lard and ribs 21z cents.
Estimated receipts for tomorrow:
Wheat, IL cars; corn. 200 cars; oats, $50
cars; hogs. 10000 head.
AVAILABLE GRAIN SUPPLY.
New York May 19.-Special cable and
telegraphic dispatches to Bradstreet's
covering principal points OF accumula-
ton indicate the following changes in
available supplies Saturday, May Is, as
compared with the previous Saturday:
Wheat-United States and Canada.
east Of the Rockies, decrease 2,629. 900
bushels; afloat for and in Europe, in
crease ], 44S, 600: total decrease in worlds
available 1,1S1 900.
Corn-United States and Canada east
Of the Rockies, decrease Gas, 900 bushels.
Oats-United States and Canada east
Of the Rockies, decrease 100, 900 bushels.
TheS more important decreases in
stocks OF available wheat east of the
Rockies last week included in the offic-
ial supply statement are 900 bushels
at Fl. William, Ont; $50 900 in north
eastern interior elevators, 165, 600 at
various Manitoba storage points: 90, 600
at Cleveland. and 5000 at Fulton, N
Y. Corresponding increases include
73, 900 bushels at New rleans, IS. 900 bush
els at Rochester, 1900 in Milwaukee
private elevators and 5000 at Leaven-
worth.