The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-12-03
NREAT SHOOTS UP
Heavy Buying Order Strikes
Market Unprepared,
GRAINS CLOSE ADVANCED
Wheat Takes Lead Making
Very Fine Showing,
GRAINS CLOSE ADVANCED

Chicago. Dec. 2-Heavy buying orders
/ from the country struck the wheat pit
today all unprepared for a bull movement
after Saturdays weakness, and in the
whirl of speculation sent wheat prices
climbing. December wheat closed &c up
and May wheat 14a12sc advanced, both
December and May corn sc higher and
May oats shade higher. Provisions
closed unchanged to PIC up.
Wheat was easily the leader over every
thing else OF the floor and ruled uni
formly strong. The speculation was the
heaviest in weeks and Of the kind traders
have been longing and hoping fer. Ca
bles were a trife down, but were consid-
cred remarkably firm, considering condi-
tons here at the last session. Northwest
ern receipts showed a marked fan off.
although they were still heavy. The
amount Of breadstuffs on passage had
decreased 2,s40. ee0 bushels. but the strong
" bullish argument was the fact that
this was delivery day for December op-
tons and something under 100000 BUSH
els was all that was delivered. Added 10
this was the continued report OF bad
weather in the southwest for the winter
crop. This aggregation of bullish argu-
ments started prices upward with a
boom. Even the bearish report of an
increase Of 3, 4Sf,000 bushels in the visible
supply had only a temporary depressing
effect. December opened a shade lower
TO a shade higher, at 70 to 73lsc. sold up
to INC and closed strong, 1c up, at
74Q741sc. May opened &c higher to sc
lower at M to 777sc, touched 7S1kc, and
closed strong, IL to 12sc up at 7SAc0
7S3sc. Local receipts were 81 cars, IS Of
contract grade. Minneapolis and Duluth
reported 1000 cars, making total for the
three points of LIZ cars, against 1,475
last week and 1,02S a year ago. Worlds
shipments were S229,00O bushels. against
$4,000 bushels last week. Primary re-
ceipts were 1,525, 900 bushels, compared
with $4,000 bushels last year Seaboard
clearances In wheat and -four equaIled
$4,000 bushels. The seaboard reported :.
loads takeka for export and 100000 bushels
were worked here for export
The corn pit was almost deserted for
wheat. Trade was dull and ruled easier
early. Gables were lower and brought
lower prices at the opening, both De-
cember and Nay started unchanged to
&c down. Stocks on passage were in
creased $50. bushels and worlds ship
ments were S,706.000 bushels more than
expected. Local stocks were decreased.
Local receipts were small and bullish at
Il cars. The wheat bulge was the strong
est bull influence, but the duIlness over
balanced everything else, and December
closed only steady, 1sc up, at 62lsc, and
May sc up, at 647sc
Oats experienced a steady and indiffer-
ent market There was some slight buoy
ancy reflected from wheat, but the trade
by commission houses was scattered and
there was only a little doing in a local
way. Cash buying was still good at bet
ter prices at the river than here. Country
acceptances and receipts were reported
falling off. May opened u to &c higher.
fuctuated narrowly and closed steady, a
shade higher, at 4S34a439sc. Receipts were
2l1 cars.
Provisions sagged of early on the
heavy run of hogs at the yards. There
was good recovery later on a fair
country demand. Offerings were mainly
local. English houses were the principal
sellers. January pork opened 121hc down
and closed 215c up. at $16.25; January
lard unchanged at 1886; January ribs IN
changed at SS.37l5
Estimated receipts for tomorrow:
Wheat. 50 cars; corn. 1s5 cars; oats, 20
cars; hogs, 5000 head.