The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-04-01
DEALING Is ACTIVE
Wheat Unchanged While Corn
and Oats Are Higher.
PACKERS TO THE RESCUE
Bought Provisions Through
Brokers and Sent Prices Up.


Chicago, March S1.-Speculation in grains
was active and nervous today following
the irregular antics Of the corn pit. Trade
was largely Of a manipulative character
which puzzled the public. AT the close
May wheat was unchanged, May corn Is
qAc higher and May oats &c higher.
Provisions were weak for time but clos
ed unchanged to PFC higher.
There was a good strength in corn at
the outset due TO the influence Of the cold
weather west and southwest. This was a
good excuse to start covering and buying
but the crowd which has been active Of
late on bull deal in July options jumped
into the pit and sold 1909, GOO bushels Of
that delivery in about ten minutes. Spec
ulators were staggered for time and all
prices lost in consequence, July lost &c
straight 10 6O7sc and May which opened Is
W14c to AUSsc higher at 6O1sM6yA4c slipped
down to o9@sc. 1t was thought that the
bull crowd had Intentionally bid up the
opening prices preparatory to the heavy
selling. After this break the corn seemed
TO be absorbed In a quiet manner and II
was supposed the cereal was finding its
way back TO its early holders. There was
a disposition TO cover on the bull deal'
talk and prices advanced gradually. The
close was firm, May 1s414c higher al 69lsc.
Receipts were III cars.
4 natural reaction from Saturdays de-
cline and the effect Of the corn strength
caused wheat TO open shade TO 1sGAc
higher at 7lAM713sc. Statistics, expect the
increase on passage were buliish. Cold
weather though lightly spoken OF had its
effect through corn. The early tone was
almost strong and was aided materially
by commission house buying. All this
show OF reviving market went glimmer
Ing, however. when corn broke &c. The
market was very unsettled. The south
west was beaTish at times and sold hcaV
lily here. Stop loss orders were reached
and May prices reached d new low mark
for the Season-7015c. The increase of p,
Z6, 900 bushels in breadStuffs on passage
was construed bearishly by the crowd.
Late in the day there was some talk Of
crop damage in the southwest but most
Of the spectators were inclined to treat
the argument lightly. Crop experts ex-
pect the next government report to show
a condition of 90 to 20 for Kansas. As corn
recovered scalpers took advantage of the
absence of a selling pressure in wheat to
boost prices again and May, rallying, clos
ed unchanged at 7i1sQ1ll4c- Local receipts
were - cars, no contract grade; Mime
apolis and Duluth reported 39l, making
total for the three points Of 40 against 81
last week and SOP year ago Primary
receipts were 579 900 bushels compared 20
SCI, coo bushels year ago Seaboard clear
ances in wheat and flour equalled $4,000
bushels.
oats were dull and almost featureslcss
There was very little selling pressure. but
also no demand. The market was easy
at times in the absence of a demand and
on the weakness in other grains. Changes
were only fractional. oats did net SNOWY
as much weaknes $, as the other grains and
the market was easy at times in the alb
sence Of a demand and when corn rallied
this cereal closed highest of the pits. May
sold TO 42ikc. and closed firm, &c up at 42c.
Receipts were 1872 cars.
Provisions weer active and irregular.
There was an early strong feeling in the
face Of a weaker hog market but IL did
not last long. Commission houses liquid
ated for outside longs literally especially
in May and July pork. This depressed
prices and showed that the bulge Of the
last week or so was mainly caused by
short covering. Packers came 70 the res
cue of the market by buying through the
brokers and even sent prives above Sat
Jrdays closing figures. Realizing sales
toward the end Of the session brought dips
again and May pork closed unchanged q
$3.50 Nav lard unchanged at S9.1Il2 and
Nay ribs 2lsc higher at 0S.90. There will
be no session of the board tomorrow be
cause of municipal elections.
Estimated receipts for tomorrow Wheat
% cars; corn 17S cars; oats $50 cars; hogs
g, 600 head.