The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-02-20
DAYS GRAIN MARKET
Corn SiurdiIy Resists Heavy
Profit Taking
WHEAT Is A MYSTERY
Closed at So Cents Advance;
Provisions Lower

Chicago, Feb. 1s-The corn market
sturdily resisted a heavy progt-taking
movement today and closed with the Ma
/ option only a shade lower. Wheat show
ed a somewhat mysterious strength anl
closed at an advance Of 7zq7sc for MAJ
Oats closed unchanged. and provisions
PIC lower 10 nc higher.
The corn market was animated, hold
ing fast to its recently acquired position
as leader Of the board Of trade specula-
tive attractions. The Hquidating move
ment which began yesterday was contin-
ued and while the volume OF business
was smaller, it was sun sufficiently
heavy to draw attention from all over
the floor. The crowd, encouraged BY
lighter country offerings, small con
tract stocks and above all, by the stub
bornness with which the price had yield
ed in the face 81 immense sales BY longs
was optimistic and absorbed all offerings
in cheerful confidence that the high price
of the crop had not yet been reached
May opened 1sc lower to &c higher.aat
4014 TO 401ac. Offerings were taken read
lily and the price soon touched 405sc
Here the selling pressure became heavier
and May reacted to S01sc. At this price
the market steadied and for a consid-
cradle period it was q game OF give and
take between 401s and 40ssc- The clos
found the market strong, May only a
shade lower at 401zQ403sc. Receipts we're
go cars, Of contract grade. Corn equal
to contract requirements here amounts
TO only $4,000 bushels. Local cash sales
were 10000 bushels, while exporters re-
ported 3 loads taken Tor foreign ship
ment
A degree Of mysterious strength perme-
sted the wheat market The best buyers
and the market was a duh one-were
owners Of elevators. This occurring dur
ing a month when elevator people are
generally selling futures against their
low grade wheat stimulated covering, but
the trade generally was IN small lots
May opened q shade higher to HdAe
lower. The market was run up to $50
7515c during the fore part Of the ses-
sion. The announcement Of an increase
Of 9S3, o00 bushels in the worlds visible
caused a brief suspension Of buying, but
towards the end of the session the mar
ket rallied again and closed strong at
the top. May 1aG5sc higher az 755sc. Elk
porters reported Is loads taken to 20
to the other side. while seaboard clear
ances in wheat and -four aggregated 2l0,-
GO bushels. Local receipts were IS cars,
? Of contract grade; and the aggregate
receipts at Minneapolis and Duluth were
367 cars, against Az a year ago. Total
receipts al primary western points Eere
$500 bushels. compared with 4S1 coo the
dav last year, and cables
were STEADY.
Oats were dull. Receipts here were 521
cars, the largest IN some tine, and a
moderate amount of selling by elevators
was thereby occasioned. This was we'll
taken, however. May sold between 25asc
and 25lzc. and closed unchanged at 251bc.
Provisions recovered from slight de-
preston which was left over yesterday.
Hog receipts were heavy and they had
a weakening effect early, but this was
offset later on by a good cash demand
May pork close&-2ikc lower, At 81 %; May
lard 2i5c higher at S7.45, and May ribs
2i5c Up, at sos.
Estimated receipts tomorrow: Wheat,
s. cars; corn, 20 cars; oats. 1s5 cars
hogs, 8. coo head.