The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-03-21
PORKSEORIS PAN|CEY
Early Advance of 40 Cents,
Reaction Following.
NET RESULT is A LOSS
Wheat Higher--Coarse Grains
LoWer-Ihe Grain Visible.
NET RESULT is A LOSS

Chicago. March pa small panic
among the shorts In pork was the fea-
ture of trading today. The advance was
due to fear Of a corner, and the short
stocks, and the market reacted quicker
than it had risen. when the stuff once
began to come on the market May pork
| closed 21ze lower; lard and ribs 5d712c
| lower. Wheat was dull but fairly steady,
| helped by better foreign demand, aid
! closed 1sGa4c higher. Corn declined Ac
and oats closed a shade iower. A belief
was prevalent that all the markets were
being manipulated by a clique of scalp
ers
Early trading in wheat was marked by
considerable liquidation. Cables were
lower at the opening and continued 20
decline, which, with the continued large
receipts In the northwest and the alb
sence OF foreign demand, left the mar
ket practically without support. May
opened unchanged at 662s Gss12c. Pressure
TO liquidation, which soon became quite
general, forced the price back to 651sc-
Below this price, however, the bears
could not force the market, and shortly
before II O'Clock a good demand sprang
up, local shorts and outsiders giving sup
port to the market and advancing the
price TO $3.50. This demand satisfied the
market again reIapsed into a condition
Of heaviness, with the price fuctuating
within a narrow range. During the last
hour of trading strength again devel-
oped- The visible decrease, LBS, 600 was
more than expected. This stifened the
market appreciably, and when the sea-
board reported an improved foreign de-
mand, buying became quite brisk, the
May price reaching the best point of the
day, 669sc. The market closed steady AT
that price. Chicago receipts were 81 cars
Total primary receipts were 81, eco bush
els Clearances from Atlantic and Gulf
ports amounted to 414,0O0 bushels
Corn was dull and inclined to weak
ness, prices ruling a little lower all day.
News was not of a character to material /
" influence prices, and the market was |
apparently controlled by scaIpers. Coun- !
try offerings were reported little more |
liberal. The shipping demand was only /
moderate. Receipts were Cos cars. May /
ranged from 371sc to 372s Q371kc, and clos d !
14c lower, at S714c.
Trading in oats showed no indications /
OF recovering from its present condition |
Of almost utter stagnation. Speculative
business was sinigni1icant and prices kept
lg was rather heavy, sympathy with
corn. My closed a shade lower at 24c
Provisions were active the market at
times being in a semi-panicky condition
20 far as pork was concerned, and the
price Of that commodity covered a wide
range. Small stocks of pork, the contin-
led advance in the price of hogs and
fear that corner might be attempted
brought about strong buying movement
shortly after the opening, and as the
price went skyward shorts tumbIed over
themselves in their eagerness to cover.
the price advanced 30 cents in a very few
minutes. Then offerings became liberal
and the market fell a great deal faster
han ii had advanced, 30 cents being
clipped off the advance in about two min
ties. Later another selling furry chop
Jed off 80 cents more, but before the
lose confidence had been restored and
he price had again advanced to about
yesterdays closing figures. Late in the
session there was considerable selling
PRESSURE put on lard and ribs and these
suffered in consequence,
York also weakening. The close was
ather nervous, with May pork 212c lower
t 1.40; May lard nc lower at s.. %, and
Nay ribs 5q715c lower, at s6.16.
Estimated receipts Wednesday: Wheat, /
4 cars; corn, 80; oats, 125; hogs, 1900
lead.
BRADSTREET VISIBLE.
New York, March 9.-Special cable and
communications to Brad
treet's show the following changes in /
valuable supplies last week:
Wheat-United States and Canada east
f the Rockies, decrease ISIS. eco; LAYER
DOL Corn Trade News afoat for and in
Europe, increase 10000 bushels. Total
upply, decrease 1,32s, 600 bushels.
Corn-United States and Canada east
f the Rockies, decrease /, 423,0o0 bush
Is
Oats-United States and Canada east OF
the Rockies, increase 25s.Oo0 bushels
Among the more important increases
aported. not given in the official visible
upply statement, are those Of 320.00
ushels at Manitoba storage points no.
o bushels at Milwaukee private eleva- !
ors, and Zoo bushels at Port Huron.
he principal decreases are those Of l.
600 bushels at northwestern interior
evators, 103 00o bushels at Cleveland g.
0 bushels at Louisville, and 30 GO bush
s at Minneapolis private elevators. The
ggregate stock OF wheat held az Port
md, Ore, and at Tacoma and Seattle.
lash, increased 118.00O bushels last
eek. c
GRAIN AND PRODUCE Markets