The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-12-27
BULLS Hold OF WHEAT
Broad Active Market Develops
on Reports of Damage
FROM THE SOUTHWEST
Wheat and Oats Close Up and
Corn Lower.
FROM THE SOUTHWEST

Chicago. Dec. pa broad and active
market for wheat developed today
largely on damage claims from the
southwest, May closing 1s9ssc higher;
May corn closed a shade lower: May oats
1saAc up, and provisions for May de-
livery from 125k to 15c higher for ribs to
S295c higher for pork.
The wheat markets activity began at
the tap Of the gong, despite the absence
Of cables, May selling Is to &c to Il TO
sc higher. at S21! to S25sc. Sentiment al
ready inclined to bullishness, was stimu-
lated in that direction BY the report Of
damage to winter wheat in the south
west. Lack of snow protection, it was
stated in various messages, had worked
harm to the tender roots. A large gen
eral demand sent May to SIC, with little
opposition. over that figure commission
houses sold heavily, but the market alb
sorbed offerings with an ease which rem
dered a further advance TO s31sQSSl4c nee
essary to check the ardor Of buyers. Sales
from brokerage houses, accompanied by
the proit-taking operations of floor trad
ers, sent May back to s29s0S21kc during
the afternoon. At this point buying was
renewed for both the local and outside
account, and the market closed strong,
May 1kG5sc over Monday, at S25sc. Local
receipts for two days were 70 cars, two
Of contract grade; Minneapolis and Du-
iuth, three days, reported 1854 cars, max
ing a total for the three points of 1888
cars, against All last week and Az
year ago. Primary receipts were $50 900,
compared with 1,23S,OC0 bushels a year
ago. Seaboard clearances in wheat and
-four were equal to 255, 600 bushels. The
worlds visible, according TO Bradstreet's
report, decreased 100000 bushels. Export
ers reported seven loads taken. A private
cable estimated an Argentine exportable
surplus Of only 17.00O0 600 bushels. recent
message having placed it at 100000
The corn market was a rather narrow
affair in the hands of local traders. The
crowd was inclined to bearishness, partly
because of reported decrease in heavy
feeding and partly because they were
looking for the unloading Of some big
lines of corn. The wheat bulge caused
covering during the forenoon, but there
was little strength underlying It and
Whel the major market ulppcus COAu
promptly abandoned all its advance and
closed easy, May a shade lower at &c.
The range was between 667s and 6715c.
Receipts were 346 cars.
The market for oats was also local and
the volume of transactions small Prices
held hteady in sympathy with wheat
May sold between 452s and $3.50 and closed
1s@14c up. at e5sc. Receipts were 2s7
cars.
Provisions were fairly active and strong.
A light run of hogs, coupled with higher
prices at the yards. gave the market an
upward start, and buying for the local
and outside account resulted in a sharp
tadvance, especially in pork. On the bulge
there was moderate proft-taking move
ment but prices were shaved off but
little. The bulk of trade vas in the
Nay option. May pork closed 321zc higher
at 81. %. May lard % to 22l5c Up, a. 5000,
and May ribs 1215 to 15c improved at
SS.77l5GS.s0.
Estimated receipts for tomorrow.
( Wheat. 20 cars; corn. 1875 cars; oats, 255
cars hogs. 10000 head.