The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-03-08
H|)GPR()DIJCTSSIAjNG
But Speculative Grain Options
Were Handled on a Decline.
OATS LED IN WEAKNESS
Provision Market Active and
Much Strength Exhibited.

Chicago, March Leading speculative
grain options were handled on a declin-
ing market today in conspicuous contrast
ductsetrs ftnJ l .4auscsoshrdlu etaoinun
to the clean-cut strength Of hog pro-
ducts. The cereal slump was precipitat-
ed by weakness in oats, wheat closing
1kG5sc, corn &c and oats nc lower Pork
closed SOC, lard and rishrdluaoinuonu
closed 3Oc, lard nc and ribs 71zq10c
higher.
Opening transactions IN wheat were
quarter to &c lower, at 1888 to 754c
for May delivery, a condition of specula-
tive affairs due to variety Of bearish
increases. Liverpool was depressed, to
begin with: northwest receipts were lib
eral and the weather Of a mild character
calculated to stife crop damage reports.
Commission houses sold heavily and dur
ing the first half hour the market was
pounded to 75isG75Ac. Then the mar
ket became dull and under local buying,
much of it covering by shorts, reacted to
7oz2c. A report that some wheat had
been sold direct to Hamburg helped the
market at this time. Meanwhile there
was some activity in July wheat, which
increased its discount under May to 20
4ANIAA
pronounced weakness Of corn and OTIS,
and the discouraging export situation,
awoke bears to the possibilities of the
situation and the market declined with
some CELEBRITY to 75c and closed weak,
1z05sc lower, at 75d751sc.
Exporters reported IS loads taken. Sea-
board clearances in wheat and -four we're
equal to $4,000 bushels, while primary
receipts We're $4,000 bushels compared
with 64S ,0G0 bushels last week and 524 a
year ago Local receipts were 43 cars, 3
of contract grade.
Corn opened weak on freer country Of
ferings, liberal receipts and a slack ship
ping situation. An estimate placing the
amount of corn in farmers hands at
$500 900 bushels, compared with 773 Co.,
600 bushels at the corresponding time a
year ago, was also depressing, although
it was nothing more serious than a
guess. The provisions strength eXerted
itself in behalf of the failing market and
accomplished some recovery but the oats
weakness under this and corn slumped
off sharply to the low point of the gay,
where the market steadied on the re-
ported engagement of 81 loads for ex-
port. May sold between 40& and 40+ 6402sc
and closed 3sc lower at 402sH401ac. Re
ceipts were 335 cars, one Of contract
grade.
As was the case yesterday, the oats
market leu III the WtdhLGSS OF tie gram
markets. Heavy lots of long oats from
holders tired of the featureless market,
formed the bulk of the offerings, but on
the decline bears put out some fair short
lines. The market steadied and recover
ed fractionaily near the close on profit
taking by shorts. May sold between 251s
@2514c and 249sc, and closed &c lower.
a. 247sc.
Provisions were active and strong. The
market opened at small advance because
of a light run of hogs and advanced
sharply on buying by an influential pack
er who according to an estimate, bought
5000 barrels Of pork and 100000 pounds
of ribs during the day Other packers
bought also, while sca1pers sold on the
advance. The close was strong. LAY
pork sold between S14.25 and r-455, and
closed 30c higher at s14 521h; May lard
between $3.50 and $751;, closing TIC up,
at ST. 521b07.5 8: May ribs between S7.12b
and 7.2Od7 .221h. with the close X to lOc
up, at S7.1715G7.20.
Estimated receipts tomorrow: wheat,
55 cars; corn, 295; oats, 205; hogs, 10000
head.