The Wichita daily eagle., 1896-10-07
IT STARTS JUMPING
WHEAT MAKES A TWO-OENT RISE
TIE FIRST HOUR.

Day Is Decidedly BuIlish. With Early
Cables Higher, seaboard Orders to Com
mission Houses aud Inquiry for Freight
Room to Bombay-Profit Taking has its
Place and Bradstreet's Visible its Iufiu-
Closes 1 Ia Cents Higher at 69-Corn
and Provisions slightly Higher.
Chicago, Oct. 6.---Wheat made jump
of cents in the first hours trading to
day, empha sizing the fact that for
| eign news IS watched closely. 1t was
decidedly bullish today. but Drofit-tak-
ing pulled prices down again, December
closing at an advance Of IL cents. Corn
benefited Slightly. closing IS cent high
er. Oats closed unchanged and provi-
sions from 21aa5 cents higher.
The strength displayed by wheat at
the opening was a surprise to most
Of the traders. December, which clos
ed yesterday at 67a4 cents, opened at
63Aa6S7s cents. an advance OF a full
cent, and in the course OF the first forty
I've tldU StCSiAA4s
vanced to 69% cents. The strength ap-
parently came from the Liverpool and
Berlin cables, which both showed an
advance. Liverpool was reported firm
but unchanged in price for spot whept
and I'D higher for futures. That
about balanced yesterdays decline IN
futures there. This certainly was not
sufficient incentive for an initial one
cent advance. but a private cablegram
covering a latter time of the day ct
Liverpool quoted another I'D advance
in futures. or one pence rise altogether.
Then the reason for the strength began
to be understood. But it was only
when in the course of an hour after
opening the commission houses. who
had been the best buyers during that
time, commenced 10 show some of the
dispatches they had from seaboard and
other points, that rise TO 69A cents for
December appeared to have any justi-
fication. Some of these were enough
to set the most confirmed bear traders
to thinking. One read, Foreigners
very heavy buyers. They want the
actual wheat We just filled a. buying
order for continental house for 100000
bushels of October and 10,0e0 bushels of
November delivery Another stated
that inquiries had been made for
freight for cargoes of wheat to go to
Bombay The advance, however, was
not unaccompanied by selling. A two
cent advance, even in these days Of
rapid and large fluctuations, was very
tempting and it was taken advantage |
of with a vengeance, and prices grad |
uaIly slid off to 69ls cents. The Mime |
apoliS and Duluth receipts were again |
heavy. The number Of cars at the two |
places reached 1,2S9, against 1,1S2 a |
week ago and 1,606 on the pond |,
ing day of last year. Bradstreets re- |
port of the worlds visible, showing an |
increase of 3,7500oO bushels, had ten |
dency to weaken the market during the |
last hour. December finally rested at
SO cents.
Corn was firm and at times strong. |
but in the end made only 1s cent gain |
for the day. The anticipated rising of |
rail rates from Kansas points in the |
near future had probably some infiuen-
ce in bringing in buyers. Most of the
strength, however. came from wheat
May opened q cent higher at 265sa262
cents. advanced to 267s cents, and de-
cHned to 26ss cents. where it closed.
Oats opened firm on free buying by
shorts, also by longs, who realized their
a ambitions when prices advanced. SYM
pathy with wheat also created a fair
tone. Toward the close the market
weakened under free offerings by the
parties who purchased early. Business
was moderately heavy. May opened q
cents higher at POS cents. advanced to
2O3. cents and declined to 1873 cents.
closing steady at that price.
Provisions were firm on a moderate
amount of business. Buyers were en-
by a small run of hogs, and
also by the firmness displayed by the
grain markets and substantial advance
followed. Prices settled back again
later. the closing being at small ad-
vances; January pork Closed ~ cents
higher at $3.50, January lard 5 cents
higher at S425, and January ribs 212
cents higher at $3.50.
Estimated receipts for Wednesday:
Wheat $50 cars. corn 720 cars. oats 40
cars; hogs 5000 head.
BRADSThEETS VISIBLE.
New York, Oct. Especial cable and
telegraphic dispa tchas 10 Bradstreet's,
covering principal points of accumula-
ton, indicating the following changes
N available supplies last Saturday as
with the Preceding Saturday:
Wheat---United States and Canada
East of the Rockies. increase .2,OO1, 900
bushels; atioat for and in Europe. in
crease 10000; total increase in the
y 1orld's available supply 3.72l. eco
Corn--United States and Canada east
If the Rockies, increase IS. .00J bushels.
1ncreases--T'he important increa ses
n stocks of available wheat. United
States and Canada, not covered in the
official visible supply statement for
ast week, are 56S.000 bushels net at
northwestern Canadian points of ac- a,
,umula ton; $4,000 bushels in north
western interior elevators in the Unit
d States. 5000 in Chicago private ele-
ratOrS, $1,000 bushels at Rochester, 2S-
100 bushels at Oswego and 5000 bushels
II Omoha-
Decrea reases---CorresDondi decreases
include 252.0o0 bushels at Galveston.
$4,000 bushels at Louisville, $1,000 bush
is at New Orleans. 81. .00o bushels at
Cleveland. like amount at Nashville |
md s., 200 bushels IN Milwaukee private
1evators.
Total available wheat stocks on the
Pacific coast Oct l show an increase Of
1926 bushels during the month OF
september.
Available stocks OF wheat IN Austria
ia amounted to 10000 bushels on. Oc-
ober l. a reduction Of !. .ic0, 900 bushels
rom the total cabled Bradst-eet's on
uly las
GRAIN AND PRODUCE MARKETS
CHICAGO.
Chicago, Oct 6.-Butter-F'Irm- Cream
ries, 9G16 cents; dalries. sdI3 cents.
EggS-FSrm. Fresh, 10 csnts +