The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-14
GOES TO THE BEST
WHEAT STRIKES THE HIGnWATER
MARX OF THE YEAR
Starts With . Jump of 1 ga Cents Bushel,
Closes at q Net Rise of Ia Cents for
the Day-L;verpooPs Surprising Strength
Explains the Advance-Corn and Oats
Gain 5-S Cents Each and Provisions De-
cline-Pacifie Shipments - Bradstreet'
Visib!e-Grzin Traffic.

1 cu1e-facine shipments - Braustreet'
visib.e-Grzin TraHc.
Chicago, Oct 13.-Wheat sold 10 the
best price Of the year, December touch
| ing 707sc at one time. To the surpris-
| ing strength shown by the Liverpool
market was due most OF the advance.
Heavy realizing created a reaction later
but the December option scored a
| 15sc advance on the day. Corn and
oats both shared in the prevailing pros
| perty and advanced sc each. Provis-
! ions were the only commodities 10 de-
cEne, pork, lard, and ribs showing re-
| ducttonS OF 21595 cents.
| Wheat started with jump Of about
/ Ia cents ped oushel, but TO the disgust
Of many OF the bulls sold their long
! wheat yesterday. The sudden ad-
vance was principally because of the
strength with which the Liverpool mar
ket had started Both wheat and corn
in Liverpool opened at an advance up
on yesterdays closing prices. This rise
| Indicated Independent reasons for high
| er prices, which was partially explain
ed by a cablegram saying il was due
| TO speculation. To the news of yes
| terday, too, was due part of the
| strength With an acknowledged
shrinlzage in our own crop OF nearly
| SO, DOC, 90 bushels from last year, an
| admitted shrinkage in Russia OF ST.
100000 bushels, and over 20, 900, 900 bush
| els in Argentine, with the news OF dis
aster to the wheat crop of India and
Australia, there is no longer room for
reasonable doubt that America will be
called upon for larger contributions
than usual to the worlds supply, with
the ability to respond less than usual.
The range of prices at the opening was
a wide one. December sold at from
70as TO 707sc, delivery, sparingly at the
extremes but heavily at from 705s TO
70s4c. The closing price yesterday was
6sq691sc. The figures given marked
almost the entire range Of the fore
noon fluctuations, the only exception
being a dip to 70Ac, the eliminating
point of q gradual reaction which set
in after the opening splurge, but that
was followed by a second rise to 705sc
before l o'clock. The principal bear
ish factor was again the heaviness of
the domestic receipts. Chicago got
347 cars and Minneapolis and Duluth
together 1 ,433 cars, against 1,2S9 last
week and ], 446 ON the corresponding
ia of the year before Bradstreet's
visible supply statement showed an in
crease in the worlds stocks of 6,307 ,o6o
bushels. This was heavier than ex-
pected and caused a temporary slight
depression in the market. The effect OF
this was dispefled by the strength Of
the closing cables, and, encouraged
by that strength, there were plenty Of
buyers on every soft spot The price
Of December had numerous fuctua-
tons between TOSS and 7024c and finally
rested at 50A@7Ozsc, ar 1Ac rise for
the day. The re-Selling of some 5000
bushels taken some days ago for ex-
port created q slightly easier feeling
at the close
Corn got a good send-off from the
strength Of the Liverpool market, which
opened Id higher than it closed yes
terday. The first few minutes of the
session showed q, rise OF lie in the price
Of May, but sellers became too nUmsr-
Gus for such a considerable and sud-
den advance to hold. The advance in
Lake freigntS also helped TO arrest the
advance. The undercurrent, however.
was bullish all day. May opened irreg
ular and about sc higher at from
PSI to 2SSsc, advanced 10 2SBc and
declined to 2S12c. where it closed.
Oats opened firm, grew very strong
and advanced considerably in prices
For a time the strength was held, but
when wheat reacted oats did likewise,
but only slightly, and the market closed
with but portion of the advance lost |
Demand was very good. shorts especial
~ being active buyers May opened |
about sc higher at 209.d207sc, advance |
ed to 21Ssc and closed stead at 21c.
Provisions opened with a strong bull |
isl feeling. due to the stronger hog |
market and the firnness developed in |
grain, and prices advanced rapidly. |
But enormous offerings by packers and |
ex-Engfish houses caused a decided re- |
action and the close was at slightly |
lower prices. January pork closed 5 |
cents lower at $50. January lard 8 |
cents lower at s4.67Is and January, ribs /
2Iz cents lower a s407i.
Estimated receipts tomorrow: Wheat /
270 cars; corn, SOS cars; oats, $50 cars;
hogs. "a, 900 head.
SAN FRANCISCO GRAIN.
San Francisco, Cal, Cc5. 13.-This !
was a very lively day on the floor Of |
the Produce exchange Wheat Is adj |
On heavy orders from ship !!
pers. Three ships have, been laden |
with wheat for Calcutta 50 far this
month and continued large purchases
for shipment in November and Deem
Der TO Australia were made today De
oeniber wheat advanced AZ cents and
May wheat 81 cents, December clos
ing strong at sl30Iz and May at s1-33ls
cents per GENITAL. II grain continues
DO advance the California farmers viii
enjoy a season OF unsxanpled prosper
~.
HRADSTREETS VISIBLE.
New York, Oct ESPECIAL cable and
dispatches TO Brsdstreet's
covering principal points Of accumu-
ation. Indicate the following changes
asst Saturday as compared with the
previous Saturday.
Wheat-Unired States and Canada,
,ast Of The Rccl6ess. increase 5, 40, o00;
aficat for and in Europe. increase. .,
,16, 900.
Corn-Unst-d States and Canada,
east OF the Rockies. increase so4. 900.
Larger increase OF wheat stocks not
-eporoed In this official visible supply
statement include $4,000 bushels in
,Iauttoba elevators: 10000 bushels In
northwestern elevators, 172.o00 bushels
1t Galveston, 10000 bushels at New
orleans. 81. 900 bushels at Louisville. 50.-
,oe busess at Kansas City. ard e. 90
,ushels IN Milwaukee private elevators.
rhe only heavy decrease was 100000
bushels at Fort William Ont
THE GRAIN TRAFFIC.
Chicago Oct I-The higher prices
or grain and The chance fo- an elevs-
son OF freight rates i1the nea- future
,ave had a quickening effect on the
height handling by the western roads
They now handle more traffic than at
NV time fcrthe las. SIX months. The
7,sh OF oorn TO the east has become