The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-03-21
Days GRA|N MARKET
Market Yesterday 0verwheIm-
ed With Selling Orders,
TRADERS WERE ALARMED
Market Was Strong and Re-
SpOnded LanguidIy.
TRADERS WERE ALARMED

Chicago, March 20.-Disquieting rumors
Of a clash between England and Russian
troops alarmed wheat shorts today and
contributed to the strength engendered by
other bullsh news. May closed &@7sc
higher. A sharp advance in May porx,
which closed 621zc over yesterday, was 4
feature of the day on change. Corn
closed unchanged. oats shade higher
and lard ana ribs 5Q71ac improved
Irregularities and nervous eXciteme at
characterized the wheat market all day
May opened safe higher at 761z to 1850,
mainly under pressure from shorts whose
fears were aroused by the steadiness Of
Liverpool cables, cold weather and the
small total of northwest receipts Long
wheat, mostly from ~scalpers, came out
in sympathy with the easiness in corn
and May reacted to 761zc on a dun mar
ket. On scarcely any trade and with no
added reason for such action, the market
quickly rallied to l6%tc and then reacted
10 761zc. At this point it was reported
that English and Russian troops had
fired at each other at ten Tsin, and
nervous shorts rushed to cover, causing \
rally to nc. Longs hit the market on
this bulge and sent the market back 10
76l2c, where it steadied on light pri-
mary receipts, an improved export de-
mand for both -four and wheat, a drop
Of l9 points in the condition Of Ken
lucky wheat and Texas report that the
crop Of the Lone Star state had been al
most completely destroyed by the raw
ages of fly. A drop in eonsols during
the afternoon caused further apprehen-
sion over the strained relations between
England and Russia and the market be-
came aggressively bullish, May advanc-
ing in spirited fashion TO TIC. Profit
taking caused q small fractional recess
sion from this but the close was strong,
2407kc higher at 767k677c New York ex-
pOrters reported Is loads taken. Sea-
bOrd clearances In wheat and -four We're
equal to 278000 bushels, while primary
receipts reached a total of $50, 900 bushels,
compared with $4,000 bushels last year.
Minneapolis and Duluth reported 27S cars,
against 927 last week and 654 q year ago.
Local receipts were 81 cars, none Of con-
tract grade
Corn responded very feebly to the bull
ish spirit Of the wheat market at the
opening. The weather was regarded as
bearish and as receipts continued to show
Improvement in grade and there wore
indications OF a freer movement fro
the country in the near future, the mar
ket eased off during the afternoon, some
stop-loss orders coming out. The aggres-
sive bulhshness OF the wheat market
later alarmed a sufficient number of
shorts to cause recovery, but not to
the best prices of the day. May sold be-
tween 411kc and 411sd41ssc and closed I'M
changed at 1880 Receipts were 252 cars,
50 Of contract grade New York reported
IS loads taken for export, but none was
reported here.
oats were duh, the trade being local
and very light. Fluctuations, such as
they were, were governed by corn. May
sold between 255sG2514c and &c and closed
a shade higher at 253sc. Receipts were
164 cars.
Small receipts Of hogs and higher prices
for them gave a bullish tone to the pro-
visions market where a further rise oc-
CURED with the consequent establishment
Of a new high-price record for the season.
Pork, which was far and away the fea-
ture Of the day. was wanted, but there
was scarcely any on the market save
when the shorts raised their bids TO
marked degree. May pork opened at
S16. 506l6 .55, and advanced early to $500.
Even at this price offerings were far from
liberal, and the demand from shorts was
so urgent that only small recessions Oc-
CURED during the remainder OF the ses-
sion, leaving the close 6215c over yester-
day, at $3.50 A good cash demand con
tributed to the advance in futures. Lard
and ribs were more quiet, but very firm.
May lard sold between $7.S21a and S7.S5g
sly, closing sc higher at S7.S5d7- 87ls- and
May ribs between $780, and G-72z, with
the close TIC improved al $40.
Estimated receipts tomorrow: Wheat,
s. cars; corn, go. cars; oats. 155 cars; hogs,
% 900 head.