The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-02-26
Days GRAIN MARKET
Sharp Combat Between Bull
and Bear Leaders Cause 1t.
MAY CORN CLOSED LOWER
Provisions Show Improvement
and Oats a Decline.

Chicago. Feb. ga sharp combat be-
tween the respective leaders Of the bull
and bear hosts in corn made that mar
ket the center of attraction today. May
closed &c lower. Bullish statistics and
steady cables came 10 the support Of
wheat and the close was &c over Satur-
day. Oats closed shade down and pro
visions z13c to sc improved.
Corn was an active and somewhat i'm
posing market The market was mostly
a professional one, governed by sentiment
rather than any deductions from the
news. In today's receipts, 697 cars, there
were y cars which graded contract. This
was the best showing rev arrivals have
made in some time with the possible
exception Of Saturday, yet the market
advanced cheerfuuy, in the face OF il 20
the highest point of the present crop.
Somewhat freer country offerings were
also ignored during the first hours of
trading. although they had some inh-
ence later, when the bears gained tie
mastery Of the field The bun and the
bear leaders worked vigorously for some
time, with success percning first or one
banner and then on the next, while the
crowd followed. May opened unchanged
quickly touched A%sd41Ac under good
commission house buying led by out
siders. The bull leader took in half a
million May on the rise, but the COM
mencement of short selling by the bears
forced the market back to 413sc. The
bulls forced May from this TO 4112d415sc
but were unable to head the advance
against the heavy selling pressure, and
the market broke to 407sc. Proft-taking
by shorts caused a rally from this break,
May working up to 41ssd411kc. The sup
port however, seemed to have lost some
of its vigor and the close was easy May
Ac lower at 41Ac
Under the influence of Bteadiness at
Liverpool and bullish statistics wheat
opened firm, May a shade to AG3sc high
err at 75A 10 7615c. There was fairly
active trade for a few minutes. but
when outside orders were filled the mar
ket became a featureless local affair and
lost some Of its strength Nay dropping
to 761z676i4c. The strength deVeloDedSby
corn caused covering by shorts on the
decline and May rallied to 7612c. Heavy
selling by a few local professionals in
sympathy with the corn break sent the
market back to 761sc The corn reaction
and q visible decrease of 1900 bushels
combined with the heavy aboard clear
ances, checked the decline and a sharp
rally to 1910 ensued. The bears treated
this advance to liberal offerings and
there was another decline, but the c'ose
was steady, May 1sc higher at 76A d76ssc.
Exporters reported Z loads taken. Sea-
board clearanees in wheat and -four were
equal to $4,000 bushels Primary receipts
were $4,000 bushels, compared with 760-
600 bushels the corresponding day last
year. Minneapolis and Duluth reported
524 cars, against 4s5 last week and $50 a
year ago. Local receipts were 102 cars,
Is of contract grade. Worlds shipments
according to board of trade figures, were
5 $4,000 bushels, about 100000 bushels
under the previous week The amount Of
wheat and flour on ocean passage &C
cording to the same authority, showed a
decrease of LOSS 900 bushels.
Oats were fairly active in appearance. 1
but the volume Of business transacted
was light Offerings were liberal on
hard spots and bids good on small re-
cessions. but buyers and sellers failed 10
connect with much success. Prices were
governed mainly By the action Of the
corn market. May sold between 25}z and
25c and closed a. shade lower, at 2534lG
$3.50. Receipts were Al cars.
Provisions were quiet, but the market
had a firm unudertone based on light
hog receipts and higher prices at the
stock yards May pork sold between
S14. 156Dl4. It and Sl4. 2215 and closed cents
higher, at s14 %; May lard between $7.55
and s7.57i5. closing 2la to sc up, at $50
al .571s, and May ribs between $7.15 and
ST .171s, with the close 2lac improved at
$I.15
Estimated receipts tomorrow: Wheat
rs cars; corn. 6S5 cars; oats, 425 cars
hogs, 10000 head.
GRAIN AM PRODTTCF, MARKETS