The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-02-15
Days GRAIN MARKET
Wheat Was Nervous, HeSitat-
ing and Irregular Yesterday,
CORN FIRM AND DULL
Oats Fairly Active and Pro-
visions Rather Dull.

! Chicago, Feb. 1.-Wheat behaved in an
/ inexpiicable way today. closing &c lower
after a nervous, irregular session. Corn
established another high mark for the
crop and closed 4aassc over yesterday.
Oats closed &c up and provisions 21zQ
zoe improved.
At any stage Of the speculative play
in wheat it was extremely. difficult to
discern the impulses governing the mar
ket. 1t was nervous, hesitating, ir-
regular affair, generally dull, but full of
unaccountable whims. The profundity of
even the experts was taxed TO the limit,
and their adyiee on the proper manner
of playing the market" was vague The
market yesterday advanced in the ia
of bearish news; today it declined on ad-
vices which on the surface looked en-
phatically bullish. May opened a shade
higher TO shade lower, at 76Q75zsc, and
under the influence Of advances at Liv-
erpool and on the continent advanced
early on q small trade to 761sc. On the
advance trade became very dull and q
little foreign selling added to local liqui-
dalton sent May off to 734e. The corn
strength alter frightened some wheat
shorts whose covering caused a rally to
7614c. Longs, owing to the nervous, I'M
certain appearance OF the market
thought it advisable to secure profits
May consequently turned heavy ard
closed at the bottom, sc under yester-
day, at 751aG755sc. Primary receipts
were 49, 900 bushels, compared with 49,
900 bushels e year ago, this comparison
being one of the bullish factors ignored
by the market Minneapolis and Duluth
reported total of 81 cars, against go
last week and 500 the corresponding day
last year. Fresh arrivals here numbered
81 cars. zone of which graded contract.
Exporters reported 20 loads taken for
in wheat and -four were equal to 9O20O0
bushels. There was a better domestic
flour demand reported, but half the Min
neapolis mills were closed and the cash
demand here was slow. Wheat for July
delivery was still sold rather freely, and
the discount under May widened to 1ssc
Corn was very firm, bur extremely dul
up to noon. But after that it became
suddenly active and aggressively strong
The market adhered to its recent daily
habit Of making a new high price for the
crop. The closing squirt was due to COW
ering by shorts made timid by the alb
sence Of country selling, moderate re-
ceipts higher cables and the continued
poor grading of corn received here. May
sold between 391tdSsssc and 4o7sc, and
closed 15d9sc higher, at 4OH04tAc Re
ceipts wG~e 326 cars. The clearances. !
100000 bushels, were a material benefit
to the market, although the shipping
business was slow
Oats were fairly active and firm, the
corn strength, good cash demand aud
moderate receipts being the supporting
factors. May sold between 2514 d25ssc and
251kc, and closed &c higher, at 25l5c. Re-
ceipts were 3O5 cars.
Provisions ruled firm. though rather
dull and narrow. The demand mostly |
for pork. was started by the strength |
Of the hog market; and the pace W. s
later with the assistance of /
the corn strength. May pork sold be- |
tween s14 .1215 and S14.S5 and closed zoe |
higher at $14. 3216; May lard between 81. 80 |
and T.60, closing PIC higher, at SSH. |
and MAY ribs between $40 and s7.17l50 |
20 with the close nc higher at |
S7.171s
Estimated receipts tomorrow: Wheat |
70 cars; corn. 225; oats. 295 cars; hogs,
g, 600 head.
GRAIN AND PRODUCE MARKETS.