The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-11-25
Has MUCH SUPPORT
WHEAT CLOSES A CENT AND A
HALf BETTER.
small Northwest Receipts and Estimated
Europeaa Requirements of Seventeen
Million Bushels u Month for an InSefi-
Mite Time are Two Very Important
Items of the Statistical Situatiou-Corn
1feevy and Inactive, Too Much SO for
Wheat to Help Much-Oats DuIIest for
Month-Provisicns are Lower.

Chicago, Nov. 24.-Wheat had all kind
III statistical support today and was ben
sfitted 70 the extent of 11s cents advance
Ia the main options. Two of the big fea
sures were small northwestern receipts
and estimated European requirements
from this country OF 1900, 900 bushels
OF wheat per month for some time &c
come Other markets, however, failed to
tseilow this lead, corn declining Is cent
eats advancing Is cent and provisions
aecaining 5@71z cents.
There was a firm undertcne in wheat
IRON the start, although the news was
not especially exciting nor unusually
bullish. bat sentiment was apparently
friendly to the buying side. The first
Liverpool cable quoted the "consumptive
aeHaahd as ppointing," although quo
cations were 14d higher. The opening
strength came altogether from the north
west Minneapolis and Duluth receipts
Were only 5e2 cars, compared with Ss8
week ago, and LII cars on the same
Gay OF The year before. Chicago receipts
ros9y were So cars A year ago they
We're 4S9. Here at last was something
tangible as to the real situation in the
northwest II gave support TO the asser-
ions tAat only one-third of the crop was
iefs IN primary hands and traders were
BOT slow to recognize this fact The Sec
Ond cables, however, showing I'd de-
cnne, rather put damper on the spirits
OF the SPECTATORS and a sharp though
temporary decline followed. Opening fig
uteS ior May We're at S012 TO SOS cents,
Gas compared with yesterdays closing
price OF S0A cents, and decline to S0A
cents followed. A dispatch from New
ork which quoted December wheat az
Liverpool at 6 cents per bUshel higher
IAan IT closed caused another lump In
.ne prices. Although this was soon
Known TO have been gross blunder 9TH
ar Hews of almost equally sensational
character had been in the meantime re-
ceiVed and the advance which had been
started was resumed. The worlds Wis
lble was reported to have increased only
l.42l, 600 bushels, there having been an in
crease In and afioat for Europe OF 2,264.-
200 bushels and decrease Of 1.iS7, 600
bushels on this side. After this announce
fnent May, which had previously risen
10 Slts cents, advanced quickly TO S21s
cents. Another item of great strength
was the Liverpool Corn Trade News es-
Innate that the United Kingdom and
continent of Europe would require from
this country 100000 bushels per month
until July /. The result OF this was a
further advance to S21% cents. Near the
close of reaction 10 S13sGS2 cents follow
ed principally from profit taking. At
THAT figure the market closed.
Corn was heavy and inactive and with
apparent difficulty maintained itself
about L cent below the closing prices of
the previous day. The great strength in
wheat did not do much TO influence it, .
Unless In the way of preventing more |
material decline. The demand for ship |
hleht east was said TO be diSappointingly |
snail and was one of the chief reasons |
FOR the heaviness. May started unchang
ed at 2714 0271a cents and gradually cas-
ed TO 1855 cents, closing easy at 27G271s
cents bid
In oats only a scattered interest was
conferred in business. The market was
The dullest for a month back, according
TO pit professionals. An easy selling ex-
listed early, but az the close prices were
steady 10 a shade better than given at
the finish yesterday May opened a shade
lower at 22a221s cents. sold to 221l cents,
closing steady at 221s cents.
Provisions were firm for while in
the forenoon, helped by a comparatively
small run of hogs, but the desire to buy
was soon satisfied by the packers. Eng
fish houses sold and the market gradu-
ally declined. Notwithstanding the fact
that wheat was advancing sharply a.
the time. May pork closed ~ cents low
or at $7s71s. May lard cents lower. at
425. and May ribs 5 cents lower at 1897
;sG4e0.
Estimated receipts for Wednesday:
Wheat A. cars; corn 140 cars; oats 13o
sars, hogs 10000 head.
ARGENTINE CROPS.
Buenos Ayres, Nov. 24.-It is estimat-
I'd that the seasons corn crop will be %
per cent below last years yield.
SOUTH RUSSIAN WHEAT.
London. Nov. 25.-The Times has an
Odessa dispatch which states that the
latest official reports are 10 the effect
that the winter crop throughout the
south OF Russia, except in the Caucas-
U.s. is in a fairly favorable condition.
GRAIN AND PRODUCE MARKETS.,