The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-01-03
HIGHEST 0F SEASON
Heavy General Buying Causes
Advance in Wheat.
CORN WAS RATHER QUIET
Provisions Opened Higher
but Declined at Close.

Chicago. Jan. 2.-Wheat scored the
highest price Of the season today on
heavy general buying. but broke SHARPLY
later on proit-taking and closed weak,
May nc lower. Corn closed 15Q5Lc lower,
oats 1sc higher, and provls ons pracu-
cally unchanged.
Wheat was irregular, excited and i'm
posing in volume. A rough estimate
based on the reports of two leading com
mittee houses places the quantity Of
wheat to change during the session at
100000 bushels Long stuff was for
sale at the tap Of the gong. May open
ing unchanged to &c lower at 77$4 to TIC.
The depressing factor was to be found
in the delivery of 10000 bushels, on
January contracts. There were no Liv-
erpool quotations for futures. but>-6he
spot article on that market was strong.
The initial selling met with a demand
more than adequate TO take care Of it,
and within thirty minutes the weakness
turned 10 strength. One commission
house was said to have bought 800 00J
bushels during the first hour and the
head of another one asserted that he
had bought twice that quantity. Early
sellers reinstated their lines and there
was investment buying on a large scale
from quarters hitherto out Of the mar
ket The rally was helped along By q
decrease in the worlds visible of 1,715,-
OG0 bushels, by an advance of cd in -four
at Liverpool and by a Minneapolis report
Of heavy -four sales. May scared dur
ing the forenoon 10 79c, and at this point
the demand Jagged. Earlier support was
Withdrawn and those who offered to Sc
cure profits found difficulty in finding
takers. Under pressure Of great magni-
tude May broke sharply to TIC and
closed weak, re under Monday, at 7l1Ic.
Exporters reported six loads taken. Sea-
board olearances in wheat and Gour were
equal to 100000 bushels. Primary re-
ceipts aggregated $1,000 bushels, com
pared with $4,000 bushels last year. Mn
neapohs and Duluth reported 465 cars,
against 975 last week and PSI a year
ago. Local receipts were 213 cars, 2 of
contract
Corn was comparatively quiet, depress-
ed by favorable weather and the re-
CENTS. ~ cars, and responding with un-
willingness to wheat when that market
was at its best The purchase of 40 90
bushels Of Nav by Phillips, who worked
the November corn squeeze was the only
incident May sold between 3714 and 355sc
anu ClcSCu StSds4yb 3 ~ ~ uuWAs d.
$3.50.
Oats were active and the trade more
broad than it has been in months. The
demand. both local and outside. showed
considerable Improvement. May sold be
tween PAS and 242l 0247sc, and closed &c
up. at 243sc. The fluctuations of wheat
svere influential in determining prices.
but while the market responded readily
enough TO the bulge in the big market,
the answer TO the latter's weakness was
less ready. Receipts were AT cars.
Provisions opened higher on an ad-
vance at the yards and the fact that
there were no deliveries in January con
tracts. There was little outside support,
however. and selling by packers caused
a reaction. The close was only IA rly
steady May PORK sold between S12.7215
and S12.s715 and closed a shade lower at
SO. 2d12. Is; January lard between S6.95
and s6.87iz, closing a shade down at
IS. sll6. and January ribs between 1857
and $500. with the close unchanged at
Sc .e21<
Estimated receipts for tomorrow:
Wheat 150 cars corn, 475 cars; oats, 215
cars; hogs $500 head.