The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-09
GRAINS lRE UNCERTAIN
Nervous Wheat Pit Leads All
Grains in WhirI.
DAYS CLOSE Is VARIED
Wheat and Oats Up and Corn
Unchanged.

Chicago. Jan. s.-A nervous rising and
falling wheat market which seemingly
tried to follow the antics OF the foreign
markets led the grain pits today. At the
close May wheat had net gain Of safe.
May corn remained unchanged and May
cats were up sake. Provisions closed a
shade to SC higher.
Trade nitbe wheat pit was heavy and
erratic. Conditions were largely local, but
a nervous feeling was developed on the
Indifferent cable list. For some time I.iv
/ erpool has acted contrarily and seemed
/ to disregard the action OF this market.
| One day when prices are up Liverpool
will decline. Today when every one was
expecting a slump in cables as the result
of yesterdays depression here, the Liver
pool tone was very steady. This brought
a strong opening, with May 1saA to IA
| sc up, az S34Qs37sc. The winter wheat
belt was reported still devoid OF moist
ure, practically no rain or snow having
fallen since the crop was sown IN the
fall. This was another bull incentive and
May jumped to S4zsc, AT once, however,
there was a lack of support to the mar
ket, selling began and with 1t a quick de-
cliEe TO S33zc. Traders expressed their
opinion that the frequent rises and set
backs the pit has had around "a in the
last few days indicated a worked" mar
ket by some strong Influences, among
which was mentioned the Louisville dis
filling crowd which is known to have
large interests. To this quarter is credit
sd largely the mysterious buying orders
that begin TO appear whenever May gets
around $50 and which today set IN at
that figure and brought q firm close, ga
5sc higher, at SHsc. Altogether the mar
ket was much mixed It seems, however
that all that is needed TO revive the bull
ish enthusiasm that every now and then
lies dormant is some influence Ike the
cables or weather report. Local receipts
were 30 cars, one of contract grade. Min
neapolis and Duluth reported S73 cars,
making a total for the three points OF
4O4 cars, afainst $50 last year. Primary
receipts were only 4S3. 600 bushels, against
634. 600 bushels last year. Seaboard clear
ances in wheat and -four equalled 10000
bushels. The worlds visible supply de-
creased 1.536.0OO bushels.
In comparison with wheat the corn mar
ket was a dull affair. Professional sell
ing was the feature and the fluctuations
were largely the result OF wheat influ-
ence- The greater part of the interest
that has been in this pit has gradually
shifted to wheat The cash situation was
slow and the country showed more OF an
inclination TO sell. Cables were the same
in This cereal as in wheat. and the open
ing was somewhat improved. May sold
up as high as sf1s and closed steady. IN
changed at 671sc. Receipts were SO cars.
Oats were strong throughout most Of
the session. The buying Of July options
continued in a marked way, and that
delivery showed a net gain for the day
Of 2.G7kc. The volume of trade in this
option seemed larger even than that OF
yesterday. Shorts. whose name IS legion,
covered excitedly all day. Commission
houses and several large professionals !
took the stuff. The dips in wheat affect
ed May at times. but this delivery closed /
firm, ssalac up. at 4s7sq47c. Receipts
were 90 cars.
Provisions had a dull and featureless |
market. The early hog market was slow
and Influenced an easy. opening. but there |
was a small demand at times that
brought small advances. May pork closed /
SC up. at 17.27l5. May lard a shade higher /
at SO. 92ae. %. and May ribs a shade higher /
at IS. 7714qS so.
Estimated receipts for tomorrow
Wheat, 25 cars; corn. 1so cars; oats, 1o0 /
cars; hogs, =. 600 head.