The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-02-06
Wheat Declined 3-8 and
Closed a Shade Lower.
PROVISIONS WERE LOWER
Oats Was the Leading Specu-
Iative Commodity,

Cicago, Feb. 5.-With the exception OF
oats, the leading speculative markets Of
the board of trade were dun today. The
very Light demand discouraged holders of
wheat and that market declined sc.
Corn closed a shade lower and oats a
shade UP. Provisions at the close were
~ to So lower.
Wheat was dull to the point Of stag
nation all day. May started out 4 to Nc
higher, at 1915 to 757s Q751zc, merely be-
cause Liverpool, which has been indiffer-
ent alike to our declines and our - d.
vances. failed to reflect the drop here
yesterday; and because Northwestern
fresh arrivals were moderate. The mar
ket quickly touchtd 7519c. Soon, how
ever, dri6lets Of long stuff cane out
some for New York, some for the for
eign account, and more from local scalp
ers. May gradually worked off to 75c,
where something Of a surprise was in
store for the talent. Selling on stop
loss orders had been expected at that
point, but instead of these the majority
of commission houses had small pur-
chases to make This steadied the mar
ket for few minutes but the close w 5
at 747sc. The change of sentiment after
the opening was shown to degree by
the way the export engagements Of b
loads were ignored, although reports of
thu prospective closing of certain Min
neapoEs -four mills were on hand at that
time as a counter-irritant. Consul Mayor,
at Buenos Ayres, reports that Argentine
crop prospects indicated an exportabIs
surplus OF only 100000 bushels, and
that the weather in that country is un-
favorable TO the crop. Seaboard clear
ances, 22e, 900 bushels, in wheat and flour
were disappointingly small. Primary re-
ceipts aggregated $4,000 bushels, com
pared with 10000 bushels the like day
last year. Local receipts were 80 cars,
one of contract grade. while Minneapolis
and Duluth reported 2SS cars, against
go last week and 400 a year ago.
Corn suffered from neglect, but never
theless maintained a firm front. Light
country acceptances and moderate re-
ceipts, 403 cars, combined with the con-
tinued poor grading. were responsible
for the steadiness. May sold between
S91sc and vv7xc and closed a shade lower,
at 3s1sc,
Oats were fairly active and firm. the
feature Of the trade being the large num-
Der of buying orders around 253sc The
market opened a shade up, on an ac-
tive general demand. A bid of 251s for
10000 bushels. however, brought out not
only the amount wanted. but so much
moro that it looked as IF the whole crop
was for sale. The secret Of the mar
ket's strength lay In the active cash
demand. May sold between 35l4 and 2616c
and closed shade higher, at 25ssc- Re-
ceipts were 32S cars.
Provisions were fat The opening was
21ac lower. under the influence of heavy
hog receipts and a drop In prices at
the stock yards. A little buying caused
a small rally early but prices settled
back later, packers having talceE al
vantage of the slight bulge TO sell. May
pork closed PIC lower at $l9 971h May
lard &C down. at s. 4715 and May ribs
25575c depressed. at $6.9715
Estimated receipts tomorrow: Wheat
so cars; corn, 200; oats. 100; hogs, $500
head.