The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-03-10
WHEAT CLOSES LOVER
Between Two Sets of Conflict
ing Influences.
MAY 1-4a3-8 CENT DOWN
Coarse Grains Up--Provisions
Unchanged to Steady.

Chicago, March s.-Disappointing ca,
bles and the enormous Argentine ship
ments caused a weak opening in wheat
today, but this was overcome by the
| strength Of the Liverpool spot market
and the cash business here. The market
receded from the top on proft-taking
but closed firm, May AG9sc under yester-
day. May corn closed &c and May oats
| 4QAc up. At the close, the provisions
market was practically unchanged and
steady.
The wheat market was active irregular
| and influenced by two strong but oppos-
| ing infuences-the indifference of cables
and the enormous Argentine shipments
against the strength of the Liverpool spot
| market and the big cash business here.
| The record-breaking exports from The
other side Of the equator and the indif-
ference Of Liverpool to the advance here
yesterday were felt early, May opening
12c depressed at 657g d66c. The selling was
probably bit too heavy, for the news
of the spot advance at LIVERPOOL caused
liberal covering by shorts The predic-
| ton OF cold wave was also an incen-
tive for buying, and as big cash bust
ness was reported under way May shot
rapidly up to $3.50. The bulge was met
with liberal profit-taking, but the sales
were readily absorbed at heduced prices
The close caught the market on the re-
turn trip from 66Q661sc, where 1t had
been forced by the desire for profits,
and the close was AQ&sc down, at 1b1aLsc
for slay, which, despite the fact that it
was under last nights close was con-
sidered good indication of strength.
The cash business here was put at 800
oO0 bushels, 200O0O bushels OF it for ex-
port. New York reported 10 loads taken
for export. Atlantic port clearances in
wheat and -four were equal to 10000
bushels. Primary receipts were 606.OcO
bushels, compared with 10000 bushels
last year. Minneapolis and Duluth re-
ported 673 cars, against 541 last week and
$50 year ago. Local receipts were 20
cars, Is Of contract grade.
The corn market was strong and ac-
tive. The opening was easy, with wheat
but later there was a recovery, nearly all
of which was held. Gables were higher
receipts moderate-32S cars here-country
offerings very small and the cash demand
good, forty loads being reported for ex-
port at the seaboard. Roads were re-
ported In bad shape, with a prospect of
a severe curtailment of the movement
With these facts in mind the short inter
ests bought heavily, one man taking in
an amount put at 100000 bushels May
ranged from 35A to $3.50 and closed sc
over yesterday at 359sc.
OSts were firm, apparently in sympa-
thy with corn, but quiet Shorts were
buyers and there was a fair demand for
shipment. Feeling was bearish, howev-
er, because of large country supplies and
a belief that the government report will
be bearish. Receipts here were 23O Gears.
May ranged from 232s cents to 235s cents
and closed 1saA cents up, at 1850.
The provisions market was quiet, but
steadied in sympathy with the strength in
corn and the Liverpool advance in ham
and lard. There was a fair cash de-
mand. The opening was a trife lower on
the liberal hog receipts May pork closed
a shade higher, at so; May lard IN
changed at $5.521aG5. So, and March ribs a
shade lower, at $3.50.
Estimated receipts tomorrow: Wheat
As cars; corn, 40; oats, go; hogs, 240Oo
head.
GRAIN AND PRODUCE Markets