The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-12-04
GRAINS DOWN AGAIN
Liberal Profit Taking Follows
Marked Strength.
BOTH WHEAT AND COGN
Close for Wheat Is Lower but
Corn Closes Higher

Chicago. Dec. s.-Liberal profit taking
followed marked strength in both wheat
and corn Influenced sharp says and Dec.
and May wheat closed 1sqlc down, Dec.
corn &c higher, May corn sc higher and
May oats sg18c UP. Provisions closed Is
to 2oc down
Trade in wheat was very active over
somewhat narrow range. improved cables
and marked falling off in northwestern
receipts started better prices. The coun-
try demand was very good and most OF
the buying orders seemed to be for long
profits rather than for scalping. The
strength in the ST. Louis market was
particularly helpful The worlds total
visible increase Of $4,000 bushels had
little effect on the market. \ good
strength developing in corn added TO the
bullish wheat incentives and prices ad-
vanced well. Late in the session, howev-
er, long wheat in great quantities was
poured into the pit, and. though taken
up quickly by bulls depressed the market
materially. December opened steady and
ranged between 757sd742ic, and closed
easy sale lower at 737sc. May opened
unchanged, ranged between 7S47S7sc and
closed easy sale down at 7sG7Sisc. Local
receipts We're 3 cars, of contract grade;
Minneapolis and Duluth reported 1.051
cars, making a total fer the three points
Of 1,l29 cars. against 1856 last week and
SUI last year. Primary receipts were
10000 bushels compared with $4,000
busiest last year. Seaboard clearances
in wheat were 5000 and -four 1900 bar
rels.
Corn acted dull and weak the first two
hours Of trade, while wheat was advanc-
ing. Cables were lower and there was
considerable selling, the wheat advance
made some of the shorts nervous and on
the report of a strong cash demand in the
southwest and good sample trade here
many prominent ones ran hurriedly TO
cover. The advance was sharp and de-
cisive and prices reached the highest for
the crop. On the rise commission houses
were liberal sellers for profits and under
increased offerings prices reacted some
what. December opened unchanged and
ranged between 615s453c. closing firm &c
UP at 62ssc. May opned unchanged to
shade lower, sold between 6412a66lsG14c,
and closed strong, sc higher at 651zc. Re-
ceipts were l.. cars.
Oats were dull and featureIess early.
but followed corn when that cereal show
ed strength establishing a new record for
May. There was a moderate demand on
the part of the shorts, country acceptance
es were small and shippers reported an
active demand for small lots for the east
ern account. May opened steady, rang
ed between 431s01sc and 437sc and closed
firm 1sdizc up at 43izc. Receipts were
IS cars
Provisions were heavy early on large
receipts. but the decline was moderate.
Trade was rather duh, the country de-
mand less urgent, but not much of a
pressure on the market. There was some
open selling by large packers and prices
sa gged January pork closed 2oc down at
sleO5. January lard 20c lower at 1913,
and January ribs 15c down at SS2lz.
Estimated receipts tomorrow: Wheat.
50 cars; corn, s. cars; oats, 10 cars; hogs,
50. coo head.