The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-03-29
May Pork Advances az IL
Cents, to $3.50.
WHEAT A WARM SECOND
Advancing on French Crop
and Eastern War Cloud.

/
sively, apparently intent on breaking
! price records, added enough more TO
| theor figures today TO excite interest out
side the board of trade. May pork closed
yesterday at s12. 021z and by noon today
had advanced Az cents. This price,
$3.50, is the highest paid for May de!iv-
cry since March, 1895. December l last,
pork for May delivery sold at 50. IS. Since
that date lard and short ribs have each
advanced dollar or over Finished
hogs are scarce. They cost relatively
more than their products. Packers are
paying about $3.50 for hogs on the moot
and the present price of products is only
about IS cents over that. There is a stiff
demand for product for immediate de-
livery and consequently sales for future
delivery are hard to get.
Chicago, March 28.-Markets on the
board of trade today were active and
strong. May wheat closed 11sQ1Ac over
yesterday, influenced largely by damage
to the French crop and nervousness over
a small war cloud reported from Turkey.
Provisions continued their upward ca
reer, founded on the small hog supply
and the excellent cash demand, May pork
closing sc, May lard 35c, and May ribs
zoe higher. May corn closed Aq4sc up
and oats 6c I'D for May and CSC better
for July
News of damage to the French crop
has become a bit of routine, having been
cabed with more or less persistency
since the beginning of the season. Some
times it has been ignored and at other
times given consideration. 1t was shelly
ed the othe rday, but today it seemed
freighted with Importance; probably be-
cause the damage report carried an esti-
mate reducing the crop 100000 bushels.
Another explanation of the cause of to-
days strength lies in the 81, 100000 in the
visible and the heavy amount on ocean
passage, which the bears have oversold.
Large as are these stocks, they would
be of small account were mllers the
world over compelled to draw principally
from the stocks mentioned from now till
next harvest. The FEASIBILITY Of the the
DRY that the millers are in the position
mentioned IS apparently borne out by the
excellent demand from eastern centers
of consumption as well as from abroad.
However that may be, shorts certainly
felt some strong incentive for getting in
such position. The advance late in the
session was helped some by nervousness
over the possibility of war between Rus
STA and Turkey, in which other nations
might become involved May opened a
shade over yesterday, at $50 Q657sc and
advanced to &c, closing strong, 11sG1I4c
over yesterday. Gables We're firm and
the market doubtless felt the exceptional
in provisions, and the pit crowd
was much larger than it has been recent
~. The cash business was not large,
10000 bushels being reported here and
New York reporting % loads taken for
export. Clearances in wheat and flour
were equal to $4,000 bushels. Primary
receipts were $4,000 bushels, compared
with 5000 bushels last year. Local re-
ceipts We're 50 cars, none of contract
grade, while Minneapolis and Duluth re-
ported Az cars, against 554 last week and
453 a year ago.
The provisions market set out aDpar-
emily to shatter records and. according
to persons with memories for statistics,
clambered up to an eminence unknown
during the corresponding months Of any
year since 1895. The encouragement for
the day was In higher hog prices, but
back of this influence was the condition
which has obtained for months-an ex-
cellent demand for current consumption,
and prospects of a diminishing hog sup
ply. Since December l. May pork has
gone UP nearly 50. while May lard and
May ribs have gained a dollar and over.
Today's market was an outsiders mar
ket their demands overlapping even the
pressing wants of the packers. The lard
advance was the feature. being 30 cents
per fierce. There was some heavy profit
taking, which checked the advance for
time but this opposition was swept
away after a brief existence during the
middle of the session. Opening prices
over yesterdays close, were the
lowest of the day. March pork ranged
from s1215 to $3.50 and closed 45c higher.
at SO. Az; May lard from $6.35 to s6.521a.
closing 25c improved at S6.521a. and May
ribs from $3.50 to $685., with the close
L7i2d2nc better, at S.. 62l3.
The corn market, as a rival of wheat
and provisions for the calcium light and
the center of the commercial stage, was
a failure. Had It not been for these mar
kets the coarse cereal would probably
have succumbed to the statistics, but
with the influence Of these two centers
Of strength, the market held firm. West
arn receipts were 100000 bushels. more
than double last years. Receipts here
were $40 cars. Country offerings were
small. Cables were not an encourage |
nent. Cash people reported bids for
within thirty DAYS eNtraordina-
lily heavy. in 350.o0O bushels lots, but
he scarcity OF cars cuTtalled business.
May ranged from IS to SSS G3Sla, and
,iosed at $3.50
The feature IN the oats market was
he relative strength displayed by the |
July option, which leSsened the discount |
under May to SIC This was due largely /
10 country buying, probably on the /
strength q the predicted stormy wealth !
ar. The market in a general way was 1
by the strength OF wheat and /
provisions. May ranged from PA 20
,4@sc, closing lsc improved. at 7fSsc July 4
sold from 232s to 559s d25S4c closing up I
1t 22ss q 332sc
Estimated receipts tomorrow: Wheat |
. cars: corn. so cars; oats. is cars; |
logs, 400 head.
GRAIN AND PRnDrCE Markell