The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-11-06
NHEAI Is REVIVED
BuIIish Foreign News Does
the Business.
OTHER GRAINS HELPED
December Delivery of the
Cereals Closes Higher

Chicago, Nov. 5.-Bullish foreign news
of many sorts today revived the wheat
pit after lethargy of several months,
and also helped other grain markets as
well. December wheat closed 10Hsc
higher, December corn &c up. and De-
| cember oats &c advanced. Provisions
/ closed 21zQ5c to 5q71zc up.
! Everything in the wheat situation TO-
/ day pointed TO better prices and more
active trade for some time to come.
Slightly improved cables from Liverpool.
Paris and Antwerp, based supposedly up
on the recent rise here, were the initial
influences for the advance. There was
continued Independent strength in tn corn
situation, and this gave an added impetus
to wheat. December opened only shade
higher on these factors, but rose steadily
throughout the session. Many Shorts who
have tried to bear the market were forced
| to buy in at a loss and turned bulls
when news arrived of shortages in the
Russian and Argentine crops and Of the
removal of the import duty on wheat into
Mexico at 30c a bushel sales to Mexico
were reported and just before the close
of the session came reports of a decline
in British consols, probably the result
OF the war scare. December and May
were both bulled by professionals and
sold at a difference of just cents. De-
cember closed strong, 141kc advanced.
at 72%o. Local receipts were 212 cars
three Of contract grade. Minneapolis and
Duluth reported 919 cars, making a total
Of the three points of I,131, against !, 100
last week. Primary shipments were
heavy, at l, 900 bushels, compared with
100000 bushels last week. Seaboard
clearances were only 132. 900 bushels.
Corn was active during most Of the
session, with a strong undertOne. Com
mission houses were buyers. and the
selling was mainly by longs taking
profits. December opened lk6Ac higher
and advanced fairly on strong cash mar
kets. One or two prominent longs let go
their lines and this encouraged short sell
ing again. On sales to points which here
tofOre have been sellers in this market
there was a reaction and a scurrying
among the shorts. On the rise there
seemed TO be as much corn wanted as
there had been a week or so ago, when
prices were considerably lower. Crop re-
ports continue unsatisfactory, and there
is constant talk of feeding the new crop
to stock. December advanced to 59lsG
$3.50, at one time. and closed firm, &c
higher, at 591zc. Receipts were AS cars.
Oats were nervous and active under the
influence of corn. The cash situation i'm
proved, receipts were small and commits
sion houses were buyers. a prominent
bull operator did much to advance the
market by his heavy purchases. Deem
Der, which opened unchanged, advanced
with but slight reactions and closed &c
UP at 31ssc. Receipts were 262 cars.
Provisions ruled heavy early in the day,
Influenced by lower prices for hogs.
Prices we're lower all around and there
was some depression as the result OF sell
ing by packers. Later there was a &C.
mand by shorts. based partly on the
grain situation, and January pork closed
2l905c Up. at S14.S3Ik January lard 5d71kc
up, at $S.550S.571z and January ribs 2IA2
sc higher, at S7.671kc.
Estimated receipts for tomorrow:
Wheat, 1l5 cars; corn, 20 cars; oats, 80
cars; hogs, 5000 head.