The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-01-19
NBEAI Is DEPRESSED
Rallies Late on Reports of
Frost in France.
MAY 3-8 CENT LOWER
Coarse Grains and Provisions
Also Decline.

Chicago, Jan. 1s.-The wheat market
was depressed today by lower cables and
favorable crop news. but towards the end
rallied somewhat on reports of frost dam
age to French crops, May closingrather
easy, CSC under yesterday. Corn and oats
closed each &c lower. Provisions, weak
ened by realizing, closed 215q1212c lower.
The scanty array of news today served
it's daily purpose Of emphasizing the fact
that the supply of wheat is away over the
demand at present. The session was dull
with put and call transactions eliminated,
as per the board Of trade edict of yester-
day, with a steady stream Of wheat going
out weakened prices save towards the
close. At the opening, with Liverpool
lower; crop reports favorable and the
Argentine with an alleged exportable sur
plus of 72O00,000 bushels, May at So12q
655sc showed loss over night of Adasc-
A little buying early advanced the mar
ket to 655sQS5&sc C. From that the price
gradually sank, with occasional fits Of
steadiness, to 647sc for May Near the end
of the session private cablegTam
brought confirmation Of report OF dam
age to the French crop by frost. Shorts
covered and there was some good buying
ION the report, which Influenced an ad-
vance Of May to 6515c, at which it closed,
rather easy in tone. The seaboard re-
ported twenty-five loads taken for export
and 5000 bushels was sold from here.
Atlantic port clearances in wheat and
flour were equal to 10000 bushels. Pri-
mary receipts were 359 900 bushels, COM
pared with 612, 900 bushels last year. Min
neapolis and Duluth reported 80 cars,
against Al last week and $50 year ago
Local receipts were IS cars, none Of
which graded contract.
The corn market had its usual supply
of supporting news at command today
wet weather, small offerings and steady
cables-but the influence of a weak wheat
market was pust strong enough to hold
the price down. The market was not a
large one. nor was business active. The
shipping demand from the east was par
ticularly poor. Receipts here were 1893
cars. May sold from S394 to 331+c, react
ing from the bottom with the advance
in wheat and closing steady, May 4c I'M
der yesterday, at S3lEc.
The oats market was sluggish, for, al
though the demand was poor, the wheat
decline failed TO depress it to any extent.
Local receipts were III cars. May ranged
from "a to 237sc and closed &c depressed
at 237sd24c.
The Slgnlncant feature - the provls-
ions market was the dulness OF trade.
The volume Of business was much small
Ter than II has been recently and holders
were disturbed by the fact. At the open
ing the market was firm, with prices up
a trife on hog receipts which were not
as large as estimated, and better prices
at the yards, but the early strength soon
ebbed away under steady liquidation May
pork sold from s10.97l2 to 5000 and closed
1G0121ac under yesterday, at S10S21h; May
lard from s6.05 to 1915 .971k, closing sc
lower at $5.97, and May ribs from S5.S21s
to 5.721z, with the close 21z to sc down,
at SIS.
Estimated receipts tomorrow: Wheat.
90 cars; corn, 275; oats, 1870; hogs, A,00O
head.