The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-02-27
GRAIN MARKET
Wheat Closed a Shade Higher
and Corn IA Cent Up.
DECLINE IN PROVISIONS
Favorable Kansas Wheat Re-
ports Affect the Market.
DECLINE IN PROVISIONS

Chicago. Feb. 26-In today's speculative
tradin gthe tendency was towards easier
prices. Wheat closed a shade lower
corn. &c; oats, 7sc and provisions "a
to PFC lower.
Wheat was irregular in regard to price.
Traders evinced disposition TO await
something distinctly indicative Of a
change in crop conditions before assum-
ing their stand. Outside business was
conspicuous by its absence ana TO this
was due the declines which followed
every advance. Longs merely waited
for them to unload scattered lines. May
opened 1AlI1Ac lower TO unchanged at II s.
0T5i4Q2c, Influenced somewhat by d re-
port that the Kansas wheat acrease
would be per cent larger than last year
with the plant in excellent condition.
Light northwest receipts and snort Nv
ed commission house demand sent nerv-
Gus shorts to cover and May ra-Hed 20
I65s1@4c. That some of this covering was
due to the expectation of a heavy world $
visible decrease was shown by the slack
response the market made when the ng-
ures were given out. This bulge tempted
realizing sales and as the trade was
keeping an eye on the declining corn
market May fell off to 75lsc At this q,
leading operator absorbed $50 O00 bushels,
bidding the market TO 1612c in so doing.
1t was durin gthiS advance that the VEst-
BILE statement was made, but the failure
of the crowd to follow the new leader
showed how well they had calculated ear
der. More long wheat was for sale on
this advance and May again declined,
from the business transacted the first
half hour, the trade was restricted TO
local confines. The words visible, &C
cOrdin gto Bradstreets decreased, 3,592C 600
bushels during the last week Export
ers reported twelve loads taken. Sea-
board clearances in wheat and -four
reached total OF 253,Q bushels Fri
mary receipts aggregate $4,000 bushe 8,
compared with $3.50 bushels he CORES
ponding day last year. Minneapolis and
Duluth reported 30 cars against 367 last
ceipts were s. cars, none of which graded
contract
Corn-Moderate activity characterized
the corn market during the first hour,
but thereafter the market for this cereal
ruled dull and, Ike wheat, was bounded
by the pit. At the start commission
houses traded literally on both sides Df
the fence, with the scalping element
working hit and miss at whichever side
seemed to offer profit Leading opera
tors were anything but active, but
enough stuff from scattered sources came
out to give the market declining ten
dency ali day. Even with the market
under 4lc offerings were LIBERAL for some
time, but at 1926 the support was better
and the close, though easy, showed some
of the loss regained Country offerings
were more liberal, though not large. Cash
trade was slow. MAY sold between Ana
az and &c and closed 14c lower AT Ale.
Receipts We're 6S5 cars, Of contract
grade
Oats-There was a fairly good trade in
oats within narrow range Of prices.
May sold between 25$l d255sc and closed
&c lower at 255g0252c. the corn marke
being an influence throughout. At 255sc
commission houses had numerous orders.
but offerings were light. Receipts were
443 cars.
Provisions were dull and weaker. The
opening was steady on light hog receipts
and a strong market at the stock yards.
The cash demand continued among the
bullish items, and some of the early buy
ing was said to he for export but selling
by packers overcame whatever bulish in
fiuence these facts may have had and the
close was easy May pork sod between
s1417h and S1l071b and closed PIC lower
at Sl40713: May lard between $3.50 ST.
and S747lsdL50, closing TIC down at
$7.471h01.5 80: Nav ribs between S7.15d7.07la
with the close TIC depressed at $IO-1a
Estimated receipts tomorrow: Wheat,
50 cars; corn 295 cars; oats 155 cars; hogs
5000 head