The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-03-13
Days GRAIN MARKET
Wheat Closed With a Net
Decline of 3-8 Cent.
CORN CLOSED HIGHER
Oats and Provisions Were
Firm and Strong,
CORN CLOSED HlGHE

Chicago, March I'm the absence Of
outside support the wheat market closed
with net decline Of sc today, while the
other leading speculative markets on
change held firm, corn closing 4 to aso,
oats &c and provisions 5Q15c higher.
May wheat opened 7saAc higher, at
1873 to 7516c. under the short-lived sup
port resultant to higher Liverpool ca
bles and the mildly bulish government re-
port made yesterday afternoon. There
was a fair amount Of outside buying the
first few minutes, but the bulk of pur-
chases was made by local shorts. It was
soon left to local bulls to take care Of
the market, and they proved unequal to
the task, although the bear pressure was
at no time severe, or even serious. Con-
sidering the divergent views expressed
by leading traders, the comparative mac
tivity Of the market is a puzzle. The
bull arguments embracing recent reduc-
tons in crop estimates for Argentina,
Australia, France and in the Northwest
are answered by pointing to the fact Jnat
May wss and is now sc higher than il
was a year ago. 1t was this answer
which was made to the government re-
port. The Hberality of seabOard clear
ances last week as we'll as today make
review of the previous day-to-day reports
Of no export inquiry look peculiar. The
days receipts both in the northwest and
including other primary points, were I'M
der last years and the fact that this is
the crop scare season was made promi-
nent by damage claims from Ohio and
Indiana. ne market however, without
any particular pressure worked off dur
ing the forenoon to 743s sc. ne report
Of 200 900 bushels sold here for export
and seaboard claims of 81 loads taken
for the other side, caused a rally to
75isQ7514c, but this rally failed of support
and the market reacted to 747sc and
closed easy, sc under yesterday, at 75c.
Seaboard clearances in wheat and -four
were equal 10 467 900 bushels. while pri-
mary receipts We're 55100 bushels, com
pared with 6S4,0 900 bushels last year. Min
neapolis and Duluth reported 363 cars,
against 215 last week and 9S2 a year
ago. Local receipts were Y cars, 3 of
contract grade The world S visible de-
creased $4,000 bushels.
The government statistical report Of
corn reserves was more bullish by COM
parison than that on wheat, and was re-
hected in a heavy trade during the first
hour of trade in that cereal. Unsettled
weather also helped the bulls, but later
the market become more quiet and prices
eased off on the improved grading of re
ceipts. there being g. cars of contract
out of 1876 cars received here today. Coun-
try acceptances were reported light.
while shippers claimed their market
somewhat improved. May sold between
414 and 4024Q407sc, closing AQ3sc higher,
at 407sQ41c.
A good shipping demand was reported.
but the business done was not given
May oats opened at 249s0249zc, sold spar
ingly at 244c declined to 241ad247sc and
closed &c higher at 245sQ24}sc. Receipts
were S19 cars.
Provisions were firm, without much
business being transacted. The strong
est phase of the market was near the
close, and it was also the most active at
that time. The market was bare of Of :
ferings most Of the day Near hte END
a little came out and was quickly alb
sorbed. May pork sold between S14 .821a /
and S14.90, and closed 15c higher at $3.50:
May lard closed sc up, at $50, and
May ribs 712c improved at s7.921z.
Estimated receipts tomorrow: Wheat, !
50 cars: corn, go cars; oats, $50 cars;
hogs, 80 600 head.
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