The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-03-19
Grain Markets Elsewhere.

Chicago, March 1S.-Wheat had quite
little boom today under the influence
OF the threatening European political
situation, but the confident selling OF
the bear contingent proved too much for
the market TO stand and May closed
about u cent above yesterdays final
prices, after selling a cent above that
figure. Corn and oats were firm but
closed unchanged. Provisions had an
inglorious slump and closed considera-
bly, lower.
Wheat showed decided strength most
OF the session and there was a good de-
gree of activity in the trading. The
news generally favored better prices
and there was good deal of uneasiness
among shorts and more disposition to
buy for the long account, while the Of
ferings We're light. Opening prices,
though showing no QuOtable change,
were barely steady. This was due prin-
cipally TO the disappointing cables,
which were quoted only II pence higher,
in face of the q cent advance here yes
terday. But the effect of this did not
last long. Something approaching the
severity Of a cold wave was predicted
for the southwest by the signal service
bureau, and that was a matter of ap-
prehension to those who were short, and
of encoura cement to the bullishly in
clined. The decline in English cOnsols,
showing apprehension in Europe over
the political situation, was a powerful
factor in the strength when 1t began to
be developed and, in fact, its influence
was felt nearly all through the session.
cad nv tha
expected falling off in local receipts and
the rumored large export business yes
terday and more reported today. The
main strength of the day, however, was
active covering by the short interests,
which had become large during the last
few days. The opening price for May
wheat was unchanged at So cents, with
some sales at 63h cents, and after scor-
ing between these figures and CPS cents
for about half an hour it began a grad
ual advance which did not stop until
81 cents wasreached. A brisk trade was
done on the rise, after which the mar
ket became dull and, considerable real
izing being INDUCED in, the price work
ed off to around $685. cents. In the last
half-hour, the market became lively
again, but on this occasion the increase
in business was to the accompaniment
OF a breaking DDOlIl, the price VI may
tumbling down to 63k cents. The high
notch proved too tempting for scalpers
and holders of long lines and they went
after it with a vengeance, the price los
ing nearly all the advantage 1t had
been holding all day. The closing prices
for May were 631s 1854 cents.
Corn showed considerably more activ-
ity than of late and ruled firm, inf1u-
enced largely by wheat, though small
local receipts and strong cables also cut
some figure. May opened unchanged at
294 cents, sold to 297s cents and closed
at 29A cents bid.
Oats were firm and moderately active,
but fluctuations were mainly low. May
opened at IS cents and followed wheat,
closing at the opening price bid.
Provisions had rather hard time OF
il. Hog receipts were surprisingly
large, which caused weak and lower
opening. Short sellers followed up their
advantage and pounded the market
persistently all day and closing prices
were about the lowest of the day. May
pork closed Is cents lower, at S9.521a
May lard cents lower, at $3.50 5.37 z,
and May ribs 10 cents lower, at S5.Ol1s.
Estimated receipts for Thursday:
Wheat IA cars; corn $50 cars; oats 200
cars; hogs 10000 head.