The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-04-04
ANOTHER BEAR Day
Wheat, With Plenty Of BuIIiSh
News Goes Off 7-8 Cents.
CORN ALSO CLOSED LOWER
Weakness in Provisions Look
ed Like Manipulation Of
Packers

Chica 20, April BIT was another bear
day OF the board Of trade toda.. Wheat
had plent yof good bullish news, but
the sentiment prevailed that yesterday :
bulge was more than conditions warrant
ed and the late bearish crop news sent
prices downward until May wheat closed
sc lower. May corn 5sq2sc down. and
May cats unchanged. Provisions also had
q set back and closed Ice 10 "a cents
lower.
Trade in wheat dragged much Of the
tine and only cnce showed any snap.
Foreign markets were slightly UP. but
disappointed the bulls IN their unrespon-
sive character. Much OF the early crop
news was DeariSh and showed lis effect
on opening prices Opposed 10 these tAc-
tors Weer The very gocQ cash demand D.
mlllerS-SOuueI hlng Ike 3l9.4yU bushels Of
No. 1 Northern being sOld-anQ reports
Of probably reduced stocks ~ Duluth and
Minneapolis. There was Z seni-OniciaI
report that the shortage in Oklahoma ard
kansas would be JJ.lll.G $50 70 bU.Jll,l1J
bushels because Of the crop damage. May
started : 70 sc lower al l4s4Itsc, and
worked up 10 sZ-sc on the Dull news, but
there was 10 force 70 the market. OIer-
ilSs were liberal, outside markets drag
ged badly and then came d report Of
statistical concern that allowing about
three quarters OF last years production
Tor Kansas and Ohio. the siV principal
winter wheat state would raise As much
wheat as last year. In an already weak
wheat market this had q slumping effect
and May slid down TO q weak close, sc
lower at Use Receipts - cars. none
contract; Minneapolis and Duluth report
ed 1e4. q total for the three OF 224 cars
against 20 last week and 365 2 year ago.
Primary receipts were only -, go bushels
compared with 81, 30 q year ago Sea
board clearances eQualled $500 bushels
The seabOard reported 81 loads taken for
export.
There were new tactics il the corn pit
today that set the crowd guessing again
Prices started out al small declines be-
cause Of the Indifference of the foreign
cables. Suddenly the prominent bull
crowd that has been active in July op-
tons began 20 sell Of that delivery and
bought 100000 bushels Of September.
This pushed the late future up and the
crowd began 10 tail in. The nearer de-
hveries suffered in consequence and un-
like wheat showed no tendency TO re-
cover. When the offerings OF September
proved in excess Of the demand that de-
livery eased or again and wheat eNerted
q weakening influence. Wheat was re-
ported favorable for the crop. Aside from
The incident in September the corn mar
ket was slack with a tendency toward
the selling side May sold between C91zG
6j9s and 5s7sc and closed weak 5sa@4c low
er 2 Z 5s-sff597sc Receipts ia ears
oats showed independent strength for
time today on buying or May that led
70 the belief that movement IN the cash
cereal was At hand. The market. however
was very duh and aside from the Nay
strength there was no feature. Nay sold
at i5isc and closed steady and uuchang-
ed at 42ssc. Receipts I01 cars. Seeding
and starting OF plant growth was report
ed progressing well
Provisions were weak and the decline
looked very much like continued mauipu-
latiOn at the hands of the packers The
hog market was weaker ard the small
decrease ia lard stocks induced SELLING Of
that product Pork however. was the
bone Of contention and packers and other
long took profits and threw stuff over So
quickly that many shorts who had re-
Gently run 10 cover did not nave a chance
10 put out again the property they had
bought under pressure NAY pork clos
ed 21iac lower at Si5.45, MAY lard gre down
at $3.50 and MAY RIBS zoe IF NJ tss1l.
Estimated receipts for tom oTr0w- Wheat
> cars. corn. So ears; oats, . cars hogs.
% coo hnad4