The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-01-18
fRA FOR A AIIAENI
Wheat Market Fails to Resist
the Inevitable Decline.
CORN WAS INDEPENDENT
Oats Had Individual Strength
but Provisions Were Dull.

Chicago, Jan. 1.-THE decline IN wheat
was continued today under influences
which have held sway recently, but the
close was with some Of the loss regained
| on export engagements. May closed p
Q4zc lower. Corn and oats each closed
1zg9sc higher and provisions unchanged
10 15c higher. 4 u 4 4 4 =
That Liverpool did not fully reflect
the decline Of I3ac here yesterday was
the cause Of a moments hrmness in
wheat at the opening which was 1sc
higher for May at 1880 to 751zc, The
same old stone-lfOeraI receipts and slack
outside support was still fastened ABOUT
! the markets neck and the first haf hour
saw q drop to 743s012c under fairly lib
eral selling. the selling pressure was
weakened long enough for d recovery TO
74sc, but trade was dull and this at
tempt a. recovery was soon Abandoned
and a relapse to 7EsQ1zc followed. Dur
ing the last 10 minutes, May rallied
sharply to roc at which the market clos
ed, 2sG9lo lower This rally was duo
mostly to moderate covering by shorts
on a market that had been sold TO
standstiu. Their buying was based par
| TALLY on the report Of exporters that LOO
loads had been taken for foreign ship
ment and partly on a desire 10 take
profits, as it was believed the foreign
sales had been made at reduced prices,
and that much Of the grain was Of infer
Tor quality Seaboard clearances in
wheat and -four were equal to 900
bushels. Primary receipts aggregated
$4,000 bushels compared with 368.000 bush
els 2 year ago. Minneapolis and Duluth
reported 91S cars against go last week
and 2S2 a year ago Local receipts were
So cars one Of contract grade. 4 4
Corn was Independently strong the
greater part Of the session although pT1c-
es did bend a little early In sympathy
with the wheat weakness The high
price of hogs coupled with buying by
provisions interests, the light country
movement and the continued poor grad
ing OF receipts were the ruling factors.
There was little or no elevator selling
and a good cash demand although bus
mess was as usual hampered hy lack
of cars. Receipts were 5l9 cars. none
Of contract grade. ay sold between 57t4
Q377sc, and SS5sQ3Sazc, and closed 1zQ55c
higher al 381zd3s55c.
Oats also exhibited individual strength
al no time showing more than the Sigh
est attention to the wheat weakness
The excellent cash demand, light move
ment. and a report that big interests
were at no time showing no more than
the slightest attention to the whea
weakness. The eXcellen cash demand,
light movement and a report that big
interests were long 100000 bushels were
supporting influences. The corn strength
was also a help. Receipts were 262 cars.
May sold between 245s and 253sc. and
closed 1ad5sc higher at 2574c.
Provisions were duh and neglected, hut
steady on a moderate run OF hogs firm
prices at the yards, and a good cash de-
mand. May pork sold between $1395 and
S415 and closed 15c higher at s415; May
lard between $7.42la and $747lkG7.50, clos
ing unchanged at S7.4715 and May ribs
between $7.07G7 071a and S715 with the
close PIC uD at S715
Estimated receipts tomorrow: Wheat.
45 cars; corn 400 cars; oats ia cars; hogs
q .nnl head