The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-02-28
CORN SIElIIES PITS
Its Strength Holds Wheat and
Oats Firm.
WHEAT'S CLOSE Is DOWN
Corn and Oats Close From
Shade to IL Higher,

Chicago, Feb. 2.-Corn strength was
the dominating factor fl grain speculation
today and working against depressing
influences In other pits steadied wheat
and oats and itself held firm. May wheat
closed 1-Sq1-4c down, May corn 1-zc
higher and May oats a shade higher. Pro
visions closed 5d7 lie to 10c higher.
Corn trade started out somewhat bet
ter than at yesterdays close Influenced
by firm cables. The crowd, however
took the selling side early and an easy
feeling was manifest for time. The
local selling was Offset by a fair commits
sion house demand, the southwest buy
ing literally and professionals later came
in the market with bull Intentions AS
prices advanced shorts were forced to
cover and good trade developed. Kan
sas City and st. Louis again took a lead
in futures over this market. There were
claims that cash business was going on
there. The strength in these markets did
much 70 help bull sentiment here. Pre-
dictions of storms in the southwest also
was bull factor. May opened unchanged
to 14c up at 60 "a to sic ,eased to 60 5-Sc,
and then jumped TO 60 1-sc. Late in the
day profit taking caused a loss Of much
OF the strength. though May closed firm,
1-2c higher at Ct Csc. Receipts were much
lighter than estimated at 115 cars.
Wheat had only the corn bulge TO help
Il in a struggle against numerous bear
ish tendencies. Cables started slightly
higher but at no time reflected yesterdays
local strength Northwestern and pri-
mary receipts were increased and the
crowd took the selling side. There were
reassuring reports Of crop conditions that
helped bear the market as did an alb
sence of demand for the grain IN store.
Under the influences May opened 1-SG1-4
10 I-4d3-Sc lower at &c Csc and easeG to
rs $50 Then corn influence began TO
help the Outsiders bought and manifest
ed a desire to play the market. Predic-
lions OF cold weather IN the west also IN
duced some buying. May sold up TO a Is
but the late liquidation IN corn started the
local crowd who had been the best sell
ers, to hammering the market again and
prices slid OF. May closed weak, 1-S@
1-4c lower at &c $50. Receipts 81 cars,
two contract; Minneapolis and Duluth
reported 5SS cars. a total for the three
points of SO cars, against 292 last week
and 342 a year ago. Primary receipts
were $4,000 bushels compared to $4,000
bushels last year. Seaboard clearances
equalled 1880 bushels The seaboard
reported 70 loads taken for export.
Commission houses too khold Of oats
early and bid the price of may TO 44c.
There was fair buying on the strength
Of corn, which exerted some influence
but near the close May was offered
more freely and the strength was lost.
Western offerings were rather light
Provision people were the best sellers.
May closed steady, a shade higher ct
43 1-2c Receipts. 50 cars.
Provisions were fairly active and main
tanned good strength all during the
session. The start was slightly lower,
Influenced by heavy receipts at the yards
and consequent lower prices for hogs
Covering on the grain advance and some
small buying, advanced all provisions and
May pork closed 1-2c up at Sl5.25; May
lard 10c higher at $3.50 and May ribs 90
: lie up at Ss.S5GSs.ST II.
Estimated receipts for tomorrow:
Wheat, 20 cars; corn. 80 cars; oats, so
cars, hogs, g, 900 head.