The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-04-21
GRAIN AND PRODUCE
WHEAT MARKET LOOKS FOR A SOFT
PLACE TO LIGHT.
Curb Quotations at Chicago Open Radically
Weak and on the Regular Board the
Gong Is the Signal for . Grand Rush to
Sell. and = Consequent sIump-New York
Hastens the Disgorging Process-war
About Played Out as q Market Factor
Markets in General

III 0cuctai-
Chicago. Ills. April eo.-The excitement;
in the wheat market was manifest on the
curb today before regular trading On
change began. The opening curb quota
lions today, in strong contrast with yes
terday, were radically weak. First offers
OF the May option were made at 7524c. a
drop OF IL cents. and almost Immediately
7S4c was quoted. This was followed by
al equally rapid rise 10 73Ss cents.
When the gong sounded on the regular
board there was a grand rush TO sell and
the preliminary slump on the curb was far
outdone. First sales were al 13i.. the low
est figure touched on the curb, and from
that all the way down 10 12s.c. fall OF
Z4c. compared with last nights closing
figures. \ quick rally OF about a cent a
bushel, to 733sc. occurred during the first
ten minutes but the market only held for
an instant at that figure, sliding of half
cent an a jify, 10 I33sc.
In anticipation of a repetition OF yes
terday's wild scenes, both the public and
private galleries OF the Board 90 Trade
were packed with interested spectators.
But they were disappointed. For the first
time since last Thursday, traders had for
eign markets to assist them and they were
watched narrowly. Neither the foreign
grain markets nor stocks showed any such
apprehension over the war situation as has
been felt here, Liverpool's advance being
nearly cent less than expected and con-
soils showing a decline OF 1o-16c After the
initial half hour il was evident that the
war had ceased to be a factor, for the time
at least, and. although trading was very
active and fluctuations. rapid. no such ex-
element as marked yesterdays session
was present. The opening showed the ef-
feet of the cables. Even IN the face OF the
rush at May wheat from 73I4c down TO
729.c, as against yesterdays close OF 75c.
buying was heavy. Barrett's purchases
alone amounting TO hundreds OF thousands.
Cudahy and Linn were also active buyers.
II was this buying that caused the quick
reaction TO 1870.
The other grain markets almost resumed
their normal condition. They were weak.
of course, following the action of wheat
May corn opened about &c lower at 2ls9
Ai!c and swung slowly between 24asG2il4c.
Oats showed more weakness than corn.
May opening a full half cent lower at lie
and selling Immediately to 177sc. 4 good
demand at the decline caused a recovery
to 115.c.
Provisions were quiet. almost TO duilness.
and shared in the prevailing weakness.
May pork opened sc lower at ss.421a and
stead.ed at sS.45; May lard opened unchang-
ed at $40. May ribs opened &c lower at
$40 and recovered TO s472Is.
NEW YORK.
New York. April o0.-There was disap-
pointment in the Liverpool cables this morn
ing. Instead Of responding freely to the
American advance of about 5Izasc BUSH
Ell since Thursday. they only gained about
4hc. This was the signal for heavy unload
ing in the market, 'eleventh-hour bulls"
foreign houses. and others being conspicu-
GUS sellers. Prices az the opening dropped
with a crash-May 20 79I2c, and July to 7sl.
respectively a decline of 2i4 to 23sc from
last night. An irregular upward swing TO
s0i4c for May was followed by a second
break to 79Izc. and then by nervous fluc-
tuations within a comparatively small
range at midday. In the afternoon, scare
OF shorts lifted prices a cent a bushel May
selling up 10 S0i7c, with a final reaction 10
S014c. which was the closing figure. The
covering was based on an advance OF five
to six marks at Berlin since Saturday.
strong French markets, rumors OF a big
export demand and reduction OF 10000
bushels in the worlds wheat stocks last |
week. Transactions were very heavy dur
ing the day. but. except at the immediate
opening and close. yesterdays intense
strain and excitement were missing. Crop |
news from the west and from Europe as
well were distinctly bullish, encouraging |
purchases during the day in the idea that |
wheat was we'll worth the price on Its ner- I
its, without the aid of European war IN |
fuences. Last prices for the day were !
l2sg1Ac below last nights figures.
LONDON AND BERLIN.
London. Eng. April 20-There was no |
demand for white wheat, but red. May and !
June wheat. spring. was quoted al 3ls ask ,
I'd. with buyers at Dos. Two shillings ad- |
vance was bid for American parcels 70 /
London but no large orders were placed. /
Berlin, Germany. April D-The wheat |
market here opened strong at ga TO 81 /
marks higher