The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-14
HREAI LOSES GENT.
Growing Bearish Sentiment
Forces Net of 7-8 a lc-
CORN CLOSES SHADE LOWER
Bulls Take Hope at Opening
But are Fun Out

Chicago, Jan. 13.-Growiug bearish SEN
tiuent IL the wheat pit combatted the
nea ere early bulIishness and after much
pressure forced q net loss OF = 70 I cents
in May wheat Nay corr closed only a
shade lower and May oats unchanged
Provisions closed ~ TO 1oc lower.
Al the opening OF the wheat pit bulls
took hope because the foreign markets did
rot reAec- the Saturday weakness here
Liverpool was slightly lower, out grad
ually improved and Paris was higher
Augmentirg this influence were hte re-
ports OF decreased shipments 10 Europe
and q decreased visible supply. but these
Il turn were weakened by Al increase Of
1.1s6,900 bushels in the amount OF bread
stuffs on passage May opened 4 to sc
higher, II S24 20 S25sc. and showed some
tendency TO break or liquidation. The
continued reports Of dry weather and
covering by numerous shorts as the low
est early prices brought a rally 70 the
opening prices again For some time the
market Tavered and between tho two
opposing forces. The bulls were striving
70 regain their control OF the market
but the other contingent was IS deter
mined not to permit IL The general SEN
timent pervadiug the pit today was that
longs had he'd onto their wheat too long
IL the attempt TO push prices still higher,
and that the reaction had now come IN
earnest Toward the close OF the ses-
sion selling orders came in rapidly.
Bears pounded the pit with the argu-
ulent that there was too much wheat 10
be had Aiinneap polls reported q slow cash
demand, and stated that the liberal re-
ceipts reported there TODAY would con-
tinue for thirty days Spring wheat had
practically no shipping demand. The in
iuence OF these factors soon became ap-
parent. and May began slipping down q
a rapid rate. The decline was arrested
only by the close Of the board. when Nay
was weak. 5 70 II lower. ar Sl1s1Sl5sc-
Local receipts were . cars. = contract
grade. Minneapolis and Duluth reported
so cars. making h total for the three
POINTS OF LOIS cars. against so last week
and 723 year ago. Primary receipts
were 1.022 200 bushels. compared with e25.-
Coo last wear Seaboard cIearances If
wheat and -four equalled $4,000 bushels
World shipments were 1880 0o0 bushels
for the week against 7.5S6010 bushels last
week and 5 60 bushels year ago.
The visible supply decreased So, GO
bushels.
Corn was comparatively firm, and Yield
ed reluctantly u the bearish influences in
wheat Trade was quiet and the cash
demand rather slow. but bulls seemed in
cIined to become interested in this pit
again. The opening influences were in
favor Of stronger position. Liverpool
started lower. but soon improved until
the condition was steady in spite Of Sat
urday's weakness here Nay. corn opened
slightly better and OF the wheat strength
advanced 10 6614c. Two or three local
spectators lent helping hands TO the
wavering cereal. and when the wheat
Stun came supported corn against any
decided setback The close for May vas
steady and q shade lower. at 655sG553a c.
Receipts were rs cars
Oats were less active than OF late
There was some Improvements in the
cash situation, but under the influence
of the wheat repression and local real
izing the small early strength VS. lest
The opening was steady and when wheat
firued up this pit followed suit. The
close, however, was only steady. Nay IN
changed at -5alG45.sc. Receipts were 20
cars.
Provisions ruled sCmewhat easy 1T the
start ehere was considerable depression
en- the slow hog market A demand for
ribs ard pork developed and prices again
reacted The late grain weakness brought
another depression. and May pork closed
Iac down, at S17.1od17. e21s; Nay lard 7laG
&c lower. at 50 65d9 67ie, and May ribs
nc OF. ar SS.57is-
Estimated receipts for tomorrow.
Wheat. $ cars; corn. 155 cars; oats, 20
cars; hogs. 4s.o00 head.