The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-03-17
RAISED By IRE GOLD
May Wheat Closes at an Ad-
vance of "a Cent.
CORN A SHADE ADVANCED
Oats a Shade Up--Provisions
Strong and Higher.

Chicago, March 16.-The cold wave sent
wheat prices up today almost as fast
as the mercury went down, May closing
at an advance of &c. Reported damage
to the unprotected wheat was the main
factor in a general covering movement
Corn was weaker at times, but closed at
a shade advance Oats also closed
shade higher. Provisions were strong
all day, closing from to IL cents higher.
Opening quotations for May wheat
showed an advance of ssQ1zc over yester-
days closing price, May starting at
663sQ67c. Traders who sold yesterday, an
ticipating another weak Friday opening
on account of heavy Argentine receipts,
were disagreeably surprised by the f1g-
ures from that country, which showed
shipments 100000 bushels less than last
week, and made haste to get under
cover. OYershadowing everything else in
influence on the market, however, were
the reports of extensive damage to win
ter wheat caused by the present cold
wave. 1t was known that the western
wheat fields are practically bare of snow
protection and the rapidly sinking Their
mometer brought conviction to shorts
that the damage reports were not ex-
aggerated. The opening advance showed
sufficient profit to tempt holders and re-
aliZing caused a temporary reaction TO
66$4 G567kc for May, but inside of Is min
utes after the opening the market began
jumping under vigorous demand, the
advance not being chacked until May
reached 6615d66c. BY this time the edge
of the demand had worn off and a tiny
bit of profit-taking caused a setback
for a time. selling being increased by
weakness being shown in corn at the
time. The market gradually became ex-
ceedingly duh, with trading confined al
most entirely to local operators, and the
price kept within a narrow range. To-
ward the close the market again became
firm, with slight increase in the volume
of business caused by renewed reports
of crop damages. May got back to 67Ac,
the market closing firm at hiatt figure.
Gables were firm. which fact had more
or less influence on trading. The cash
demand. however, was poor, and New
York reported but IS loads for export,
taken late in the day. Northwestern re-
ceipts were 4S2 cars. compared with 673
last week and $50 a year ago. Chicago
receipts were SO cars. Total primary re-
ceipts were $4,000 bushels. Atlantic port
clearances Of wheat and -four amounted
to $1,000 bushels. Temperatures as low
as 10 below zero were reported in some
sections Of the west.
Corn was fairly active and irregular.
The market at the opening was firmer
and slightly higher, mainly in sympathy
with wheat. bat prices gradually gave
way under persistent selling by promi-
nent longs, liquidation of that sort also
causing short selling. Later in the ses-
sion the market recovered again with
wheat and the close was steady at q
shade advance for the day. Receipts were
3SS cars. The close was at shade high
er, at 379ac.
The market for oats was absolutely at
a standstill In spite of the dulness,
however, steadiness was shown, the
strength of wheat being sufficient to
maintain prices. The spring demand was
slow. May opened a shade higher at
237s624c and remained at those figures
all day, closing at 237sd24c.
Provisions were quite active and
strong. Hog prices were the highest Of
the season and packers bought literally
on this account. Provision stocks show
ed no increase and this and the strength
in wheat had considerable influence on
trade, the demand being good all day.
At the close May pork was TIC higher,
at s1155: May lard sc higher. at S6.C50
6.071zc, and May ribs to TIC higher,
at ss.O215.
Estimated receipts Saturday: Wheat
80 cars; corn, $40; oats, go; hogs, 1900
head.