The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-11-15
.SIEAIDED By SHORTS
After an Argentine Scare,
Wheat Closes Higher.
DECEMBER Is AT 81 3-9
Corn Unchanged to Higher
Provisions Lower

Chicago, Nov. 14.-Wheat was weak
early on lower cables and predictions Of
a large Argentine crop, ouc stealied on
buying by shorts, and closed al an ad-
ance Of i 10 &c Influenced BY light
country offerings and small receipts, corn
closed strong. unchanged to &c higher.
Oats closed Is TO 4c higher Provisions
ruled weak and closed 2l2 10 l0c lower
| Reports OF light dom astic receipts were
the only items with which bulls could
confront the bearish array OF statistics
at the opening Of the what mark: To-
day and the initial figures, Decor bar.
65laG665sc; Nay, 701zQ7o3sc. showed a loss
/ from yesterdays close Of = 70 sc. The
! chief factor in the weakness ,gas the gre
diction Of an Argetine crop authority, tnat
/ prospects pointed 10 a large Argentine
crop. Harvesting Of this crop began last
year November 19, and the prediction,
j., evidently not much in advance of the
| beginning Of harvesting, had immediate
I effect. Liverpool, which had opened finn.
/ declined and closed weak. The market
/ here rallied after the opening on covering
/ by shorts and buying against puts. De-
cember touching 6G7sc and May 70Tsc. On
profit-taking December eased of 10 665sc
and May 10 704sc. An impression that the
/ continuous liquidation OF the past few
days had resulted in an oversold market
was apparently verified when shorts n
greater number again sought cover. There
was little wheat 10 be had at the low
market and the price steadied. December
advanced to 671kc and May TO TIC. De-
cenber closed &c over yesterday, at $3.50
and May = 10 &c higher, at IA 70 7ssc
both options having eased off a bit on
profit-taking near the close. There was
an increase in the worlds visible Of =
COO coo bushels, almost double eXpecta-
tons There was a decrease in local
stocks Of $1,000 bushels. Primary re-
ceipts were 923. go bushels. against ,900,-
D09 bushels last year. Minneapo and
Duluth reported S04 cars, compared with
e63 last year and 2,039 the corresponding
day last year. Receipts here were 81
cars. ; Of contract grade. Clearances were
335. 600 bushels. New York reported g
boatloads taken for export. Advices from
Argentina were that, including wheat left
over, there would be between 90,o2o00
and 100000 bushels for export next
year.
Corn was weak early with wheat The
opening was at a loss Of i 10 &c from
yesterdays close. December at 907sG S1c
and May at 32L4 632asc. Yesterdays coun-
try acceptances were small and local re-
ceipts, 800 cars, considered light. The es-
innate for Monday was small. The early
loss was more than recovered There
was some selling Of May by elevators,
while shippers took December in moder-
ate quantities. Primary receipts were
430.472 bushels. December ranged from
307s TO Size. closing Il TO &c lower ct 31Is
to BIC. May ranged from 32h TO 321z7
925sc, and closed unchanged az 32lzc.
There was little feature to the trade
Shorts did some buying and the traders
were inclined to purchase looking for a
rally
Oats followed in the wake Of the other
markets. The spread between May and
December was narrowed 10 a difference
o; 1tSc. Bradstreet's gave a decrease IN
the worlds visible Of go 90 bushels Clear
auces were only $3.50 bushels Receipts
we're 213 cars. The cash demand was
good and 25G000 bushels was taken for
shipment. The range was only &c De-
cernber sold from 22L. 10 221k. and closed
nc higher az 231zc. May closed &c higher
at 237sc.
Provisions suffered from the depression
Of hog prices and the weakness OF the (
Liverpool market for American products
There was little demand and the market
was dull. The English packers were the /
principal sellers. January pork closed
TIC down. at SO ~; January lard 7lkTi0c !
lower. at s5.N7tzT5 10; and January ribs !
at % to Sc lower. al 1870
Estimated receipts tomorrow: Wheat.
526 cars; corn, $50; oats, 100; hogs, 4lCco I
head.