The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-05-17
GABLES BOOST WHEAT
Assisted By Advances in Corn
and Provisions.
ADDITIONAL WAR CLOUDS
Prospective Anglo French
Clash Is Effective.

Chicago, May 16.-wheat on the board
Of trade was today strong, started by
higher cables and kept going by the ad-
vances in corn and provisions due 10
covering of shorts. At its best July
wheat here was up sc and September 23sc.
The closing prices were within &c of the
top. Corn finished with 1c gain, and oats
&c. Provisions at the close showed an
advance Of zoo in pork; s0c in lard and
4Oc in ribs,
The decided strength in the Liverpool
cables was the chief cause for the bull
sentiment in wheat today. Liverpool quo
ted July wheat fully SC per bushel higher
than it closed Saturday. European politi-
cal news was looked upon as quite import
ant for 1t seemed to point to growing diff
ferences between England and France
over the African complications. Domestic
receipts were very heavy and under ordt-
nary circumstances would have caused
the traders TO be shy of buying Having
nothing but the memory of the recent
losses in their minds they covered freely
strong. Chicago received 36S cars, against
Z last year sand Minneapolis and Duluth
S12 mars. compared with $50 cars last year.
The total received at western primary
markets was l 122, 900 bushels, compared
with $50. 900 bushels the corresponding day
of last year The quantity Of wheat on
ocean passage increased 1,6So,OOo bushels
since a week ago and is now l,2sO,OOO
bushels. against Is, 1000 bushels the similar
time a year ago. The worlds exports OF
wheat and flour to Europe last week was
over 100000, whereas on the similar
week of 1897 the total shipments were
$500, 900 bushels. The domestic visible de-
creased only $4,000 bushels last week.
whereas the decrease last year was 2 125,-
900 bushels The English visible was cal
culated to have increased $4,000 bushels.
for the week, ccN1pared with an increase
year ago of $50 600 bushels. The weather
east of the Rockies was about perfect for
wheat growth, and the Californian drouth
was broken by a 24-hours rain. Continen-
tai cables, too, were in the main easier.
However. the market here got strong sup
port. and was kept on the jump for the
most part, SO tildI lile lidNtAo iidu iAC
opportunity to look at the ordinary news
items, more especially those of a statisti-
cal character. May opened at $1.40, against
Saturdays close of SLAM, and was carried
I'D with July and closed at $50 bid, SIC
net gain. July opened at S1o6 to SLOl12,
finally touching s1O9, eased off to s107%
and sold up to $1.091a and reacted TO $1O9A
bid at the close, a net gain of 4%4c. Sep
tember. which closed Saturday at S95sc,
opened at 90G1sc, sold down to S97sc, then
I'D to 92c. reacting to 91zc at the close, a
net gain of 3asc.
Corn was very strong and active today,
with outsidets in the market in force.
The weather was a factor. cool and wet
this morning and light frosts predicted
over a good share of the west tonight.
Liverpool was KGAd higher. This was
productive Of much bullish sentiment in
the pit and good general buying put prices
I'D &c. Receipts were IA cars. July
opened at 361sGHc. rose to 371sc and react
ed to 367sG37 at the close, gain Of &c
net.
Oats were neglected but opened hrmer,
in sympathy with the general strength
IN the OfneT speculative MAJ hCNS- ASiADA -
were moderate buyers Shippers say there
is very little demand. Speculative orders
were very scarce Receipts were 32s cars.
The visible decreased $4,000 bushels. July
opened at 26ssG261z against 2sl4dasc, the
close on Saturday. and sold up to 26&4q7sc
at the close, net gain Of &c.
Provisions made a sensational advance,
nearly all Of which was retained. Ship
ments of lard and meats were enormous.
Increased outside trade was a factor.
| Govrnment orders for the army cut some
figure There has been very large buying
OF both ribs and lard through commission
houses for packers. Hog receipts were
a. 600 but prices were 5610c higher. July
| pork opened at sl1GS0G11.95, against the
/ previous quotation Of s1.7o, sold up &c
/ S1217I2. back 70 S1210 and closed at $12. a.
| seventy cents net gain. July lard started
! at s.. 70lTG NJ, sold up TO $500. reacted &c
| Sc 67isd670 and closed a Sc net gain
| OF IS cents over Saturdays closing price
July ribs opened at Sc. 25as.4o. sold up to
! $3.50 and dropped to s6.55 at the close. a
net gain of 4oc.
Estimated receipts tomorrow: Wheat
5oS cars; corn, 1870; oats. 4s7 cars; hogs
| 5000 head.