The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-05-22
STRONG and ACTIVE
July Wheat and Corn Closed
Higher.
BIG GAIN IN JULY OATS
Provisions Closed Unchanged
to 7 IL Cents Up,

Chicago, May 1.-THE wheat market
ruled strong and fairly active regardless
Of lower quotations from Liverpool con-
ditiOns had again 10 be taken into ac-
count and added to the situation was
the board of trades declaration that the
Peacy elevator was irregular. July wheat
closed &c higher, July corn &c higher and
May corn l1zc improved. July oats made
a gain Of sc and provisions closed from
unchanged to nc higher
Reports Of a demand for export wheat.
light local receipts and bad weather
conditions in the southwest and north
west more than counter acted disappoint-
ing cables at the opening. The initial
price for July wheat was = 70 l sc higher
at 724d727sc and within the first hour
an advance to 731sc was registered. A
firm tone prevailed from the start. Offer
ings were light. with fair buying by scat
tering commission houses. Reports be-
came current that several Wall street
operators were in the wheat market and
these in conjunction with Developments in
il was rumored that a large quantity If
wheat would be taken out Of the con-
tract market, urged the shorts to renewed
activity and a further advance Of &c was
made. On liquidation reaction to 1870
&c followed after which the market raj
lied to 735s03ac. The close was steady and
&C higher at 1850. Ten loads were re-
ported for export. Seaboard clearances
Of wheat and -four were equal to $3.50
bushels. Bradstreets reported a decrease
in the worlds net visible supply Of 4,1eO 900
bushels Minneapolis and Duluth report
ed rs cars against Us last week and 32S
a year ago. Local receipts were 80 cents
two Of contract grade.
Corn was affected as far as the May de-
livery was concerned by the declaring Of
the Peacy elevator "B" irregular and
consequently relieving the market Of GA
900 bushels Of contract corn it contained.
May corn opened unchanged at 4Sc sold
up 20 5Ol5c and under profit taking react
ed, closing firm and 11zc higher at 1910.
July corn also enjoyed an advance, open
ing unchanged to 1kc higher at 447sd45c,
selling up to $3.50. Trade was active.
Weather conditions which were reported
as unfavorable exerted a bull influence
on July notwithstanding the large re-
ceipts. After the high price Of the day
under liquidation July reacted TO 45c and
closed steady and nc higher at 45lsc. Lo-
cal receipts were 942 cars, 81 of contract
grade.
Oats were strong through the greater
part Of the day weakening some toward
the close on realizing by local shorts.
July oats opened a shade lower at 2S2tc.
Strength Immediately became manifest on
good commission house buying and the
appearance of numerous outside orders.
Crop reports too continued to be bullish
factor. The price rose TO 29A4zsc. when
by reason of liquidation a slight decrease
was made Later the bull leader in corn
unloaded about 100000 bushels and the
market fell TO 2S7sG29c. The close was
steady and &c higher at 2s5sG2sc. Local
receipts were AZ cars.
Provisions were firm after some early
weakness that had meen induced by the
heaviness Of the days run Of hogs in the
west Buying caused the recovery was
largely of the investment character and
that was chiefly displayed IN the trade in
lard. July pork sold between $14S71zQ
1906 and closed 5G75zc higher at S14g7i3Q
800 July lard sold between $s.15aS. 223s.
and closed 21695c higher at Ss.20g2225z.
July ribs sold between $7-95QS. 025z and sS.05
and closed unchanged to PC higher at S.
Estimated receipts tomorrow: Wheat,
80 cars; corn, SO cars; oats 175 cars; hogs
80. O0o head