The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-03-09
GRAIN MARKET WEAK
All the Cereal Markets Closed
at a Slight Advance.
PORK SHOWS ADVANCE
Market Was Bearish in EARLY
Morning Transactions.
PORK SHOWS ADVANCE

Chicago, March s-Weakness charac-
terized the grain markets during the
forenoon today. but this was followed
/ by a rally later with corn. which had
1 been comparatively the steadiest, lead
/ ing. Wheat closed &c, corn 1sqssc, and
oats 1sQl4c higher, while pork showed
net advance for the day OF S754c; lard
PFC. and ribs 5q71ac
At the opening the situation looked
/ bearish. Liverpool reflected the slump
| here yesterday, Argentine shipments
! were liberal and northwestern receipts
/ considerably larger than they We're the
same day last week. The weather was
mild and moist, but at this season Of the
year prospects Of a freeze may be taken
as almost assured. hence the weather,
if anything, was bulush. This had some
4 influence in holding the market at the
/ beginning, although one bull leader and
a handful Of followers were compelled 70
contest the field against the great ma
jority Of the pit. May opened shadow
TO 1s114c higher at q to l5ls 4l5izc. The
meagre crowd Of defenders Of the price
We're swept away by force of numbers,
and the market was pounded down to
743sQ74a.c. The decline caught stop or
GERS under 75c, all Of which assisted
the market along on the downward
path. Meanwhile the little CLIQUE Of bulls
was still fighting. Corn at this period
was developing considerable strength,
which came into the wheat pit as a
much needed reinforcement. The ship
ping business also showed Improvement,
wlAle exporters reported that they had
done a better DAYS business than for
some DAYS. Shorts became alarmed, but
found the market shy OF offerings ana
! na cd raj n
and closed &c higher at 7534075Ssc. The
Gays business was mostly local. and
not large. Exporters reported so loads
taken, wh4e seaboard clearances in
wheat and -four were equal 60 10000
bushels Primary receipts aggregated
5000 bushels, compared w $4,000
bushels last year. Minneapolis and Du-
luth reported 424 cars. against 317 last
week and 672 a year ago. Local receipts
We're 81 cars, none of contract grade.
Local cash sales were 10000 bushels.
4-e GARD 8 figures make the weeks Ar
gentine Shipments 1,69S,--J bushels,
against $4,000 bushels the previous week
and 3,234000 bushels a year ago.
Corn was moderately active and gen
orally steady, even when wheat was at
its worst There was q fair outside de-
mand at the opening, rejecting the in
jury which the present weather is doing
to the roads. Elevator interests and the
local CEOWQ OILtIbu freely out the mar
ket yielded only a small fraction, where
it steadied. With the cessation of the
outside demand offerings also ceased to
come in any quantities. An order TO
buy 10000 bushels developed a bare mar
ket and when larger orders came into
the pit shorts ran the price up rapidly,
and the close was firm, with yesterdays
decline more than recovered. Shipping
sales reached a total of 200 0OJ. May
sold between 40ss and 411sc anu closed
case higher at 411zc Receipts were
329 cars, none of contract grade.
Oats like corn, turned upon its pur-
suers and had shorts on the defensive
most of the time, with the best prices
prevailing near the end 1t was thought
some oats sold at a higher price We're
then taken back. There was a fair
shipping inquiry, but the business ac-
complished was rather light. Receipts
were 2l5 cars. Nay sold between 24ss and
251sc and closed 1s454c higher, at ~
2S1sc.
In the provision pit MAY pork was
the admired object Of Spectators, es-
pecially of shorts. The market for this
product opened sc higher at Sl4.5T, and
was bid Sharply to $500, at which figure
il closed, 371ac over YESTERDAY. Packers
We're the best buyers o. lard and ribs
May lard sold between $L55 and $50
and closed 2i2d5c higher, at S5.57lA and
May ribs between $1.221a and Sl.25, clos
ing sane up, at SIS.
Estimated receipts tomorrow; Wheat,
SO cars. corn. $50 cars oats, 30 cars;
hogs, 1000 head.