The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-29
OATS Rule MARKETS
Oats Drop 2 So and Rest
Follow Suit.
CLOSE is NOT IMPROVED
All Other Pits are Slaves to
0a'S.
CLOSE is NOT IMPROVED

Chicago. Jan. zs.-The grain pits took
their cues from oats today. which stnl
held the center of interest. When they
opened firm all other pits braced up. but
when they dropped 2ssc again on re
newed selling, wheat and corn followed
after. The smanness OF trade and the
absence Of other potent influences
steadied the PITS toward the close. and
May wheat and May corn closed IN
changed from yesterday. May oats lost
&c and provisions closed to ~ cents
lower.
Oats were nervous, and fluctuations
were wide nearly all the session. May
options started a shade higher on light
offerings ard under the influence OF ap-
parent absence OF the terrible pressure
that nearly brought collapse yesterday.
May even sold Up 10 $3.50. but the coun-
try holders turned liberal sellers. Many
longs with small margins were pressed
by calls for heavier margins at the open
ing. and some of these were shaken out.
This brought a break for May down 10
40c. Support then developed There was
also considerable covering on the breaks
and putting out Of short lines on the
slight advance. May soon reacted TO &c,
and closed easy, &c down, at H7g142e.
Receipts. f31 cars. Gossip on the board
today had II that yesterdays furore was
due 10 the shaking out OF a prominent
Kansas City operator who was long
about $4,000 bushels OF May oats. After
Saturdays break OF &c the commission
houses that were handling this mans
line began calling for margins There
was no response and the first thing at
yesterdays opening they began selling
out the line 70 protect themselves. This
brought on the fear OF Patten selling,
and the break resulted. The Kansas City
operator is said not 70 be n any danger
of failure, having made good all his home
deals.
Wheat had a fairly good business. There
was little in the way Of news OF i'm
portance, and the moderate ups and
downs Of the market were largely due 70
local conditions. Gables were slightly
letter, and the worlds visible supply
showed d good decrease. There was rain
IN the southwest. which gave courage TO
The bears, but il was the oats dip that
brought the principal fluctuations in this
pit. The comparative frmness OF the
coarse grains at the opening had helped
wheat materially. May opened IN
changed TO sc higher, at T70TT1sc. and
even touched 7Sc. Naturally on this
strength wheat was quick TO respond
10 anything that would influence a change
in coarse grains. When corn and oats
began TO dip then early buyers got dis
couraged and sold. This. with soma fur
Their liquidation and a fair amount OF
short selling. sent Nay down 10 77lsc 10
0i.c- This dip was short-lived, and when
the coarse grains rallied May wheat ad-
vanced again TO a steady close. IN
changed at ne. Local receipts were
4S cars. none OF contract grade. Mime
apous and Duluth reported 429 cars. max
ing a total for the three points of Az,
against 40s last week and 81 a year ago.
Primary receipts We're ASS 0Q0 bushels.
compared with $50 COO bushels last year.
Seaboard clearances in wheat and -four
equalled ri. 900 bushels. The worlds Wis
ible supply decreased 106e. oo0 bushels
The eaboard reported only ten loads ia
ken for shipment.
Corn started out strong, broke sharply
with oats. but later showed a tendency
10 hold up we'll The pit was surprised
that only a comparatively small number
Of stop-loss orders were uncovered az 60c, +
as it was generally expected at this fig
ure the market would run into heavy
liquidation. Instead there vas a fair in
vestment demand from the southwest.
Some important short covering took place
and the market developed a strong under /
tone. In a short time May, which had
dropped from SIS 10 597sC, was back az
&c. The close was steady. unchanged ar
sl7s IGO7sc. Receipts were 1sS cars.
Provisions were fairly active and some +
what nervous. There was a considerable /
Inc OF long pork nquidations. and the f
temporary weakness II grains brought a
slump in PORK. But the market was much t
stronger IN feeling than yesterday. and
a good portion OF the loss Hog
receipts were light at the yards, but the
market there was rather SOW. Nay pork
.old between $3.50 and 1882. and
Iosed 12lzc down. az 81 ST.. Nay lard
dosed 5 10 nc of. az s. 60. and Nay
ibs SC lower. at SIS.
Estimated receipts for tomorrow:
Wheat. ID cars: corn. IS cars; oats. IS
.ars: hogs. 1880 head.