The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-01-03
Strength N WHEAT
Due to a Crowd of BuIIiSh
influences.
MAY 3-4a7-8 CENT UP
Extraordinarily Wide Gains
in Provisions.

Chicago Jan. 2.-The frmness Of Liv-
erpoel, an improved cash demand and the
decrease in the visible, with the sharp
advance in provisions, were a combina-
ton of bullish influences in the wheat
market today, May closing strong up
zGsc over Saturday at the close. Corn
closed &c and oats 1sdkc higher. Light
hog receipts and better prices at the
yards were a strong support to the pro-
visions market. May pork closing s21ac,
May lard 1715c. and May ribs 1719q2Oc
over Saturday.
The Quietude Of the holiday markets
was broken today in the wheat pit and
the hrmness which characterized the ce-
real despite the dullness of the festal
week, was turned to decided strength to-
day by an imposing array of bullish news
and statistics. May wheat opened &c
over Saturday, at 691aq693sc, principally
because of the strength OF Liverpool, the
English grain center being influenced by
a decrease in stocks and in the amount of
passage. Trade early was rather light,
but became more active later as the de-
mand from outside increased. Foreigners
were good buyers and commission houses
| had large orders from outside. Shorts
and some others saw reason for buying
| IN sympathy with the strength of the
provisions market. The announcement of
the decrease in the visible gave more i'm
petus to the upward tendency Of the
market which already was over the call
figure. May assembled to 7014 crosse and
closed strong, &dRc over Saturday, at
7O14c. At first the crowd was unfavora-
BILE to the advance, but when May reach
ed zoe and the visible, which had been
expected to show a moderate increase,
showed a reduction OF 5S7, 900 bushels,
| they turned about. New York reported
an improvement in the export demand.
Seaboard clearances in wheat and -four
since Saturday were equal to $4,000 bush
els. Primary receipts were S6S,20O bushels,
| compared with 1,85S973 last year. Min
neapOlis and Duluth reported receipts for
two days no cars, against 9S5 a year ago.
Receipts here were 50 cars, of contract
grade
Corn was strong, sympathfzing with
both the wheat and the provisions mar
kets, and supported by Independent news.
Confidence in the bull position was foster
ed by the continued light receipts and
small country acceptances despite the
good weather for movement. Liverpool
was upfor both futures and the cash ar
ticle, and clearances from the seaboard
since Saturday were enormous, amount
ing to 1851 900 bushels. The quantity on
ocean passage was reduced 592, 900 bushels
and the visible decreased $4,000 bushels.
Receipts here were $40 cars considerably
pver the estimate. Worlds shipments
were small. Shipping houses and local
bull interests, among them influential
people, were buyers throughout The ad-
vance was practically without a check.
May opened 1sc up at 327s633c, and adj
| vanced to 1880, closing 12c over Saturday
at 331zG332sc.
Provisions were exceptionally strong,
starting with a jump which surprised
even those who had been looking for an
improvement, May pork showing an in
itial gain of 15c, May lard of 712d10c and
May ribs of 715G1215c The advance was
sharp. Commissio hounses were in the
pit with large buying orders from outside
while the demand from other sources was
excellent and there were no sellers of
product for some time. When the mar
ket was at the top, up from zoe on May
lard to 42lAc for May pork, there was
naturally some profit-taking, but its eff
feet was trivial in comparison with the
advance. The advance was the combined
effect of light hog receipts, where liberal
ones had been expected; of higher prices
at the yards, and the small January de-
liverfes-10O0 barrels pork, 1900 tierces
lard and $4,000 pounds ribs. May pork
closed S2l3c over Saturday at S1O.7712; May
lard 1715c better at $500. and May ribs
171bG20c improved, at S5.70G5 .7212.
Oats were dull but firm in sympathy with
other grains. Scalpers who were shorts
were the best buyers. Selling was scat
tered Local stocks increased $4,000
bushels Local receipts were POI cars.
May ranged from 237s to 241sc, closing =
to &c over Saturday. at 24c.
Estimated receipts tomorrow not OBJ
tainable