The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-09
CUDAHY'S MEN BUY
DECEMBER WHEAT CLOSES A CENT
HIGHER.
There is-First Leaning to Lower Prices.
oc Lower Liverpool Quotations and
Heavier Northwestern keceipts-Tide
Turned by Big Operators Lately ON the
Other Side Of the Market, and the Ad-
vance Aided by . Poorer Showing for
the European Crop-Corn, Oats and Pro-
visions Advanced-Marketsin General

VISIONS Advauce0-Markets IN General.
Chicago, Oct s-The taking hold of
the wheat market again by big opera
tors and the confidence inspired by
their action was largely responsible for
an advance of a cent in December to-
day. All other markets were firm.
corn advancing Y cent, oats 4 cent
and provisions 21a@71s cents.
Wheat for about an hour after the
opening, continued to evince a prefer
ence for lower prices. The starting
transactions in December were at from
671s cents down to 672s cents, about y
cent below the previous days closing
prices. and S7M@S7A cents was soon
reached. The reasons for the weakness
were twofold. The Liverpool quota
tons at the opening were below yes
terady's closing figures, and the Mime
apolis and Duluth receipts were again
so heavy as 70 afford those who were
inclined to magnify the size of the
spring wheat crop with a plausible
argument in favor of that contention.
The receipts at those points were 1,160
cars, as compared with / ,20S last year
67H cents, the market had gained
nearly IL cents. The late Liverpool
cables came I'd higher. The indica-
tons pointed to larger clearances from
both coasts and there was talk of fur
Their heavy imports Of gold, which was
expected to exert favorable influence
on the money market and business gen.
orally. But the most stimulating in
ffuence was the discovery that Cudahy
whose selling Of late has been the chief
stumbling block in the way of the bulls
had changed his tactics and had be-
come an active buyer. Most OF the
brokers supposed 10 be acting in his
interest were active, and the purchases
for his account up to noon were be-
lieved to have aggregated at least 2.00o,-
600 bushels That the market contin-
ued 10 develop strength during the last
hour. The bullish influences were the
continued buying by Cudahy, the poor
outlook from the European crops as
compiled by Beerbo1m and the increas-
ing fight of the shorts December
finally sold UP to 691s cents but did not
hold all the advance. Realizing sales
caused a reaction TO 6S5s q6S2., where
the market closed.
Corn was firm most Of the session and
sold II cent above the close last night.
The local receipts were about $50 cars
below the estimate and it was also
helped by the good advance in wheat.
The advance in rates from Kansas and
Nebraska points, going into effect very
shortly was another of the influences.
May opened unchanged at 20 cents
and advanced TO 26ls cents, holding
steady at that price to the close.
Oats opened at or very near yes
terday's closing prices, sold up sG1s
cent in sympathy with wheat and
corn, reacted a trifie under the same in
fiuence. but closed firm and higher.
Trading was only fairly active, and the
aggregate business but moderated
opened at 1875 @191a cents, nuctuated
between 1875 and 1873 cents, and close
heavy and mostly scattered. May oat
opened at 1875 61915 cents, uctuated be-
tween 1875 and 1875 cents, and closed
at 1885 cents.
Provisions bot strong start because
of the small receipts of hogs today
and another small run predicted for
tomorrow. A great deal of business
was done in the pit. Armour's buying
OF lard was feature of the days trade
the quantity being about 5000 tierces
The big demand for cash product is,
OF course, at the bottom of the specu-
lat.ve strength January pork closed
8 cents higher at $50, January lard
211a cents higher at s44064.421h and jan
uary ribs az cents higher at s3.7215m
3.75
Estimated receipts Friday: Wheat.
300 cars; corn, 100 cars; oats, ass cars;
hogs, q, 900 head