The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-02-07
DAY ) GRAIN MARKET
News of Heavy Exports Res
cues Wheat From Dizziness.
CORN CLOSED 3-8 C HIGHER
Oats Quiet and Firm and Pro-
visions Dull and Heavy,
CORN CLOSED 3-8 C HIGHER

Chicago. Feb. e.-News Of heavy ex-
port engagements rescued wheat from
the bog in which the market was sunk
early, May closing firm and unchanged
Corn closed $50 and oats &c lower while
provisions recorded a trihing gain at
the close.
The opening IN the wheat market was
not cheerful. In the way Of news there
was nothing of moment save the fact
that Liverpool had declined agreeably to
the example set in this side yesterday.
Outside interest was still undeveloped.
This left the generally bearish local
crowd to furnish a demand, and as they
we're in no wise inclined to this, the
liberality OF offerings from commission
houses and individual longs resulted in
heaviness early. May wheat, which
opened 1sd14c lower at 74sz 10 14ssc, grad
ually worked Off to 1850. The demand,
such as it was, came almost entirely
from shorts who took the opportunity to
secure profits. At the same time, how
ever, some Of them put out other lines
on the belief in still lower figures for
the cereal. Two recognized bulls bought
moderately, even when the worlds Wis
ible increase announcement had caused
greater bearsh confidence among their
neighbors in the pit. Their buying had
much to do in steadying the market at
1850. 1t made the crowd nervous. At
tention was called to the statement of
an Antwerp correspondent that Europe
was dependent on this country for the
best part of its imported wheat, and that
the lifelessness of continental markets
IL
this side AS If in confirmation Of these
assertions, exporters at tho decline be-
gan reporting foreign engagements which
before the end Of the session aSgreg gated
So loads Shorts, already nervous, betook
themselves to protect their operations
made earlier, and May rallied to 747sc,
closing firm and unchanged, at that
figure.
Corn enjoyed moderate activity within
q narrow range Of prices. The opening
was a shade easter IN sympathy with
wheat, and to the latter market was
also attributed the decline which fol-
lowed Long dumped considerable guam
titles into the pit. Commission houses
were on both sides Of the speculative
fence, but shipping support was slack.
eastern bidding being &c out of hne
The decline, however, brought heavy
buying orders INTO the pit and as a re-
suit the market partially recovered and
closed steady. May sold between 291sc
and 3s1hd3S5sc, and closed 90 lower, at
$3.50 Receipts were 1913 cars.
Oats were quiet, but Independently firm
futures drawing support from the active
cash situation Commission houses sold
about $4,000 bushels, which was taken
BY other houses. generally at a slight
from yesterdays price based /
IN the early wheat and corn weakness. (
May sold between 25A 0252sc and 25Ls9 {
SIC, and closed firm, &c lower, at
SIC. Receipts were 125 cars.
Business in the provision pit was dun
md the atmosphere OF the market +
leavy till Just before the close, when .
prices rallied on a few buying orders
rom q shade lower TO a trlfe above /
he previous days final figures. May .
)ork closed &c higher, at 81: May lard /
shade mp, at $7.4T1a77. 80. and May ribs /
16d5c improved at S7.00d7. 02i6. Business
'arly was due to heavy hog receipts and +
with a depressed market at
ne yards
Estimated receipts tomorrow: Wheat,
8 cars; corn, 2S5; oats, 1s5; hogs, 5000
lead.