The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-04-02
Days GRA|N MARKET
May Corn Breaks Under
Liquidation.
is OVER A CENT HOVER
May Oats Down and Proyis-
ions Are Higher

Chicago, April Inlay corn broke IN
der liquidation by longs today and closed
to l3sc lower This support being with
drawn, other grains weakened. May
wheat naturally inclined to lower prices
on bearish summary OF the days news,
closed at a decline of 1a4c. while May oats
/ broke g to &c. Provisions at the close
were ~ TO 10 cents higher.
The advancing tendency of the corn
market which has been shown in an ag-
gressive manner in the past few days,
received a sharp check, but broke only
/ after a desperate resistance. May open
ed with sellers all the way from AZ to
&c. the influences aside from the desire
/ from profits, being favorable weather,
liberal, receipts, including q good proper
ton of contract corn and Indifferent ca
bles. Phillips bought literally and was
trailed by country interests as usual 1Als
support held the market all forenoon
against the liquidation pressure. May re-
acted from A to 441sc and held close un-
der that figure till noon. Then the long
corn was offered with still greater free
dom than had characterized the market
earlier. The support weakened and May
in consequence dropped to 1880, closing
weak. 1 to sc under Saturday at SEC.
Receipts were 245 cars. So Of contract
grade.
The withdrawal of the corn support,
which has been the mainstay Of wheat
bulls for some time, had serious ef-
feet on that naturally bearish market.
May wheat opened g to re lower at 1850
under the influence of weak cables, deci-
dely bearisn worlds statistics, liberal
receipts, good weather and glowing re-
ports of crop conditions. Little long
wheat came out, but bears operated on q
moderate scale Buying by a corn bull
caused an early rally to 757sc For time
the market ruled stagnant in sympathy
with the then corn drmness. The visi-
bic increase, despite heavy exports and
the still greater influence Of the corn
break, at last brought out long wheat and
set the bear forces to work with renew
ed enthusiasm. Stop-loss orders We're re-
ported on the decline, and the combined
pressure for the market during the after
noon to 741zc The close was weak, May
nc lower, at 742sc. Local receipts were
81 cars, four Of contract, While Minneap-
oils and Duluth reported $50 cars, against
gu last week and GAL a year ago. Pri-
mary receipts were $4,000 bushels, COM
pared with 1900 bushels last year. Sea-
board clearances in wheat and -four were
ments last week were $4,000 bushels,
against 1850, 600 bushels the previous week
and 7,25o,000 bushels q year ago, while
the amount of wheat and -four on ocean
passage showed an increase of 2,270000
bushels. The visible increased 5000
bushels.
Oats were active. but erratic, and
bowed to the corn influence May opened
y to &c lower, at 26A to 26Bc, and on
heavy buying Of the country accounts
rallied early to 271sc. Heavy selling sup
posed to be for Iquidating long caused
a reaction to 265sc during the forenoon.
Later in sympathy with the corn weak
ness the selling became general and May
dropped to 255sc and closed g to &c lower
at 255sQ25%c. Receipts were 1914 cars.
Provisions remained firm in the face Of
weakness in neighboring pits. Light hog
receipts, higher prices at the yards. and
the continued demand Of the cash article
were, as usual the sustaining factors.
May pork sold between S15.50 and S15 62ls
and closed 10c over Saturday at SIS. G21s;
May lard between IS . and IS. 321z. closed
TIC higher at ESQ, and May ribs between
s. 10 and IS .2716. with the close TIC up.
Estimated receipts tomorrow: Wheat
125 cars; corn. 275 cars; oats, $50 cars;
hogs, % 900 head.