The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-03-19
DAYS GRAIN MARKET
Wheat Broke Sharply Under
DeIUge of Long Orders.
CORN AND CATS STRONG
Provisions Closed From 7 ~
to 10 Cents Higher

Chicago, March 18.-wheat broke
sharply today under a deluge Of long
holdings, May closing with a net decline
Of 1lsc as a result Of the bearishness of
the days news. Corn and oats showed
considerable strength by comparison, the
former closing 3s01zc and the latter &c
lower. Provisions at the close were II
TO 2Qc higher.
May wheat opened 2sa5sc lower at IT'S
M767c, with long interests enGeavOring
TO rid themselves of holdings which sud
denly became worthless 10 them when
they summed UP the situation early.
Liverpool failed to reflect Saturdays adj
vance here. TO this potent consideration
we're added heavy world s shipments, a
Big increase of passage and liberal re-
celpts at spring wheat points. To make
the situation more bearish Nebraska, re-
ported that the condition of wheat In
that state was Il per cent better than at
the same period a year ago. A remnant
of the bun force rallied to the support
OF the market and succeeded in causing
a rally to 771sg77Hc, following the open
ing. DesertiOn from their already
thinned ranks soon rendered further re-
sistance useles, as outside aid which had
been hoped for failed to materiaGze. The
heavy primary receipts, small seabOaTd
clearances, and disappointingly light Wis
ible decrease together with the lack Of
export inquiry, were influences which
struck the market after it had declined
&c and May sold out longs were reported
to have sold short under nc. Under
this pressure May slumped to 76c. 1t
took all forenoon to accomplish this de-
cline. The trade had been excited and
large. At the bottom transactions fell
off in volume and the pit became a more
market rallied to 761zc, but closed heavy,
Use lower, at 1850. Exporters reported
but two loads taken. SeabOard clearances
in wheat and flour We're equal to 2S7,
bushels while primary receipts were 9S9.-
000 bushels, compared with 923, 900 bushels
last year Minneapolis and Duluth re-
ported 700 cars, against so last week and
SOS a year ago. Local receipts were 96
cars, 4 of contract grade. Worlds ship
meuts, according to the board Of trade
advices, were 1888 900 bushels, moderate
increase over the previous weeks ship
meuts. The amount Of wheat and flour
on ocean passage increased 1.294. 900 bush
els. The visible decreased 100 900 bush
els. about half Of what had been eZ-
pected Oklahoma reported damage
from insufficient moisture.
The corn market enjoyed q fair portion
Of attention, displaying a frmness which
was conspicuous ia comparison with the
weakness in the neighboring wheat pit.
The opening was easy in sympathy with
wheat and because Of liberal receipts of
contract corn. There was a good vol
unle Of trade which seemed to be nicely
divided, but the market gradually worked
of fractionany i'm sympathy with wheat.
a fair cash demand and spirited support
from Local operators caught the market
later and caused q recovery Of most of
the early loss. May sold between 4l5h and
H1kG41llc, and closed 5s014c lower. at
4l5s6alzc. The July option attracted
considerable attention and ruled Sc over
May Receipts were 1893 cars, 102 of con-
tract grade
Oats were moderately active and steady
IN sympathy with corn. on a fair cash
demand. Trade generally was light and
featureless. Receipts were ia cars. May
sold between 251t and Z3e and closed &c
lower at 25l5c
Provisions showed some uneasiness
early on the liberal run of hogs at the
local yards. but a good cash demand
western markets showed q falling off
from last year caused q rally later, and
the close was firm. There was a fair
amount Of liquidation early and smaller
amount of it during the afternoon, but
tnis was about all the pressure the mar
ket had to withstand, bears still being
rather timid. May pork sold between
Sl5.65 and $3.50. and closed 20c higher st
SIS 20: May lard between S16F1z07.70 and
Sc 77a. closing TIC up, at SI.77l8, and May
ribs between S1.4735 and $3.50 ~ 5I3a, with
the close TIC improved at $3.50.
ESTIMATED receipts tomorrow: Wheat.
1870 cars; corn, $40; oats, 20; hoss' 1850
head