The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-04-24
Days GRAIN MARKET
May Corn Again Broke the
Record Yesterday.
WHEAT CLOSED LOWER
Oats Was Down as Well as
Provisions,
WHEAT CLOSED LOWER

Chicago, April 23.-Nay corn broke the
crop price record again today and closed
&c higher. Wheat broke under lquida-
ton, closing l1sc lower. Oats closed sc
down and provisions ~ TO sc to l211c de-
pressed. The corn market chung firmly
to its strong position and while today 3
trade was probably less than yesterday s
in point Of quantity changing hands, 1t
was nevertheless quite active. The mo-
tive for speculative acts was that of yes
OVERWHELMINGLY, the concentration Of long
May corn in the hands Of Geo. H. Phil
lips and his following. The desire for
profits which is always factor was graf
fled 10 a limited extent, but the basic
strength of the market was not impair
ed. At the opening longs offered hher-
ally, but so sharp was the demand that IN
the confusion sales were simultaneously
from Is 10 461z. compared with yester-
days close at 462s, offerings both OF May
and July, the latter being also in excel
lent demand, suddenly ceased and both
shot upward, May touching. 47c. making
a new high record for the crop Realizing
sent May back to 46c, but this was fol-
lowed by another rally 70 47c- During the
closing hour of the session, the wheat
weakness caused some increase in the
offerings by longs and Hay worked down
| to 1850, but the close was strong, sc
over yesterday at 46lzc. July sold between
4i9s044is and 45Izc, closing &c lower, at
A5sc- Phillips was credited with buying
one million bushels of July. His pur-
chases of May already Appropriated at
eight or ten million bushels, were much
less. Receipts were 162 cars, IS of con-
tract grade.
Much wheat with which the bulls load
ed themselves yesterday was dumped
back into the pit because Liverpool failed
to follow the advance on this side. May
opened 1sd3sc lower, at 72172kc, and it
took the combined Influences OF the corn
strength, heavy seaboard clearanceS and
confirmation OF very unfavorabie crop
prospects in Prussia TO get the market
up TO PFC AS the short interest was
small and the cash demand slack, while
domestic crop advices were as glowing
as ever, longs sought to take profits and
in so doing broke May to uAc. The
close was heavy. 11sc lower, at 713sc.
Aside from the liquidation mentioned,
the trade was featureless and Of scalp
ing character. Exporters reported a
loads taken. Seaboard clearances in
wheat and -four were equal to $4,000
bushels, while primary receipts agsregat-
ed 361, 900 bushels, compared with $4,000
bushels last year. Minneapolis and Du-
luth reported a total of 1914 cars, against
800 last week and 354 a year ago. Local
receipts were los cars. none of contract
grade.
Oats opened stedy and advanced early
in sympathy with corn, and although the
bulge was lost on proft-taking, the close
was steady. The general trade was scat
tered. A feature of the session was the
liberal scale on which a local operator
bought May and sold July, the latter be-
ing at &c discount at the close. Re
ceipts were 424 cars. May sold between
26ss and 25s4c and closed &c lower at
25sz G257kc.
Profit aking sales coming on dull
market caused the provisions list to ease
off July pork closed 12izc lower, at
s14 As; July lard 2505c down, at S7.S715Q
500; July ribs 212G5c depressed, at
s. .S73k67.90.
Estimated receipts tomorrow: Wheat,
70 cars: corn. So cars; oats, 145 cars;
hogs, p .OOc head.