The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-11-16
WHEAT On A Rally.
Being So Influenced by Shorts
Taking Profits.
DECEMBER AT II 5-8a3-4
Corn Upj Oats Unchangedj
Provisions at Good Gains.

Chicago. Nov. 16-Wheat, having been
sold to a standsull rallied today ch ely
on proht-taking BY shorts, although there
was some news of bulish hue Decem-
Der closed &c over yesterday. Corn
closed shade higher and oats unchang-
ed. Provisions advanced on light hog
receipts. January pork closing BIZ cents
January lard l5c and January ribs zoo
higher.
At the beginning of the session the
talent beheld a paradox, the market
steadying on bearish news. Liverpool
fully reflected the decline here yester-
day and shorts, taxing advantage Of the
iiquiaation, which was rene cd IN a mod
crate way on this fact, covered 10 in
sure profits Thus December, which had
opened Zee lower at 72hc to 72Hc, rallied
to Use. This t.ifing rally brought out
more wheat with the result that Deem
Der dropped TO il1sc, low price for this
crop. Here the market gave evidences
Of having been sold 10 the last spscula-
tive bushel, and prices steadied with a
jerk. The long wheat which shorts had
grabbed at the start was less in evil
dence. An Argentine caole reported 10
country, and while this was denied by
others later, it had its effect among
shorts The opening of recently closed
mills at Minneapolis also had its effect
and December advanced to 727sG72Zc,
around which figures the market held
steady the remaining hour of the ses-
sion. The RAPID Accommodations OF stocks
and the prediction Of a good increase in
the visible in worlds shipments militat-
ed against any radical action by bu Is
The trade was largely local throughout
and no heavy quantities Of wheat chang
ed hands As the result of December
covering, the December-May difference
narrowed to 312d3Sc. New York re-
ported thirty loads taken for export.
Sea0oard cIearances - wheat and -four
were equal to 778.000 bushels. Primary
receipts were 719,e00 bushels. compared
with $4,000 bushels last year 8inneap-
oils and Duluth reported 35s cars. against
435 last week and 766 a year ago Local
receipts were 81 cars, 10 OF contract
grade
Corn was able to stand alone. and did
so, helped by a good shipping demand
and the stiff-backed attitude maintained
by young operator credited with being
in control Of the market Country offer
ings from Iowa. Indiana, Illinois and
Ohio points were freer, but the estimate
for tomorrow was not suggestive that
there was any rush among farmers to
take advantage OF the mild weather Tor
moving their holdings to market, despite
the premium No. 2 corn is nov. com
manding in Chicago for delivery this
month. The market was not an active
one but the bulk of speculative trading /
was for the local account. Receipts were I
344 cars, and this number being a cars in /
excess of the estimate. caused a shade 7
easier prices at the opening December {
sold between 35& and S81sc and closed a (
shade higher, at S57sG3sc
Oats were quiet and firm. Receipts /
were only les cars "a cars under the
and the estimate for tomorrow {
gave no indication of Improvement In (
trat respect The shipping demand was (
restricted TO prices at which business T!
could not be profitably done Deem g. +
sold between H-622c and 22G22Jkc. and
closed unchanged at &c.
Strength and a fair amount Of actfv-
ity held sway in the provisions plt. I
Packers and commission houses were lib T
eral buyers, Largely to cover shorts The +
market was influenced by run OF hogs ,
1000 under the estimate, and by a sharp /
advance IN prices at the stock yards. /
January pork sold between 81 62ib and I
81 .S3la, and closed 331ke over yesterday.
at 81. S2l2; January lard between Sc. s. !
and S. S718, closing 15c higher, at $685.. /
and January ribs between $500 and I
Sc. %, with the close 20c up, at $685..
Estimated receipts tomorrow: Wheat. I
125 cars; corn, 325 oats, los: hogs. 1900 /
head