The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-12-29
WHEAT HIS 4 RALLY.
Reduction ! n Argentine Re-
ceiptS Causes Advance.
CORN MODERATELY ACTIVE
Oats Dull and Provisions Not
Very Active,

Chicago, Dec. 28-Firm cables, lighter
receipts and reduction in Argentine
shipments caused rally in wheat today,
May closing re over yesterday May
corn closed unchanged ard May oats
&c higher. Provisions at the close were
21z to 1oc better in price
WHEAT
Save for a few moments at the start,
the government report issued after clos
ing yesterday wasted its bearishness on
the desert air. The general opinion be-
fore business began was that there
would be imposing amounts o long stuff
for sale consequential to the government
figures, and those who wanted TO buy
held off from a recession in prices. May
opened = TO nc lower at 721a to 725sc,
nervously touched 7258Q722lc and then
dropped to 7Z3s 9721ac. The unloading OF
wheat that had been expected had failed
to materialize The course Of the mar
ket thereafter developed the fact that
It had been oversold. Bids for wheat
served mostly 10 keep the price an lu-
sive fraction away until May had fully
recovered. Even ath the top price, 1874
Ql73Ssc offerings were only moderate,
and the close was firm, &c higher, at
7314c Local shorts did the greater part
Of che buying. They were influenced by
firm Liverpool and Paris cables In the
face Of the government report, but a
failing off in northwest receipts and also
by lighter Argentine shipments. Even
from the washington report bulls gath
cred some comfort. They figured do
nestle requirements at 390,OO0090 bushels
and European at 200 GO Inasmuch az
the report shows a crop Of only 522 mil
e11 . n rrg,o
prices. The WINE of trade was not
large. nor was it at any time more than
moderately brisk. Chicago receipts were
lis cars, one Of contract grade Mn
neapolis reported 22S cars, compared
with 3{6 last week and 333 a year go.
The aggregate Of western receipts at pri-
mary points were 900 bushels, against
449 900 last year. Argentine shipments for
the week were $4,000 bushels. against
$4,000 bushels the previous week and
$50, GEO bushels a year ago. Exporters re-
ported % loads taken. Seabaord clear
ances In wheat and -four were equal TO
25s, 600 bushels
CORN AN OATS.
Corn was moderately active at the
opening, but became duh and narrow
later. The government report estimating
the seasons production at 2,105000 bush
els, was apparently against the bulls
DUt there were many VINO thought these
figures only commensurate with the vast
ness of present-day requirements. The
opening was easy, but the market
steadied later on moderate country Of
ferings and in sympathy with the wheat
strength. May sold between 36 and 362sc
and closed unchanged at 3614c Receipts
were 43 cars. 8 of contract grade.
While the government report on oats
did not materially change prevailing
ideas the mere fact that it was out Of
the way produced a little life in the mar
ket. The market not only ruled firm,
but exhibited strength enough to pun
itself out of the rut in which it has re-
Gently been pIodding. The wheat
strength lent It a pathetic hand.
May sold between 235sc and PC and
closed sc higher at 1880. Receipts were
10 cars.
PROVISIONS
Provisions were quiet but firm, except
for December lard, which lost its recent
manipulative support and dropped off
&c. Moderate hog receipts fair local buy
ing and the wheat strength We're the
main supporting factors. January pork
sold between s12.0715 and $3.50 and
closed 1oc higher at SO %: January lard
between $6.7C66.T1z. closing 21ac up. at
s.. M and January ribs between Si.22t5
and $3.50, with the close sc improved at
$3.50
Estimated receipts tomorrow: Wheat,
% cars; corn, 400; oats, 200; hogs. 22,o0)
head