The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-03-20
BEARS WERE On TOP
Crop Damage Reports Could
Not Keep Grain Up.
WHEAT LOST 70 CENT
Corn Lost So; Oats "a; Pro-
visions Up a NiCkle.

Chicago, March 19.--Weather conditions
and predictions favored bears in the grain
/ pits today and in spite Of numerous crop
/ damage reports wheat led in a general
/ break. At the close Of the session May
! had lost sc. May corn ss0s4c and Nay
/ oats sc. Provisions went contrary 10
/ grain and closed sc higher all around.
4 Early IN the day when prices were a
( little lower on the warm weather reports
ana steady cables the local crowd took
I 70 the buying side IN the wheat pit. Ok
} lanoma and Kansas persisted IN the com
plant or serious damage 10 the winter
/ crop a Texas report stated that the re-
cent showers gave only temporary relief
and that the wheat crop was not IN good
shape. Fairly buIlish decreases Of stocks
/ in the northwest were reported and May
wheat which opened Is 70 20 lower al
if,sc TO 14asc advanced on fair commits
/ sion trade 10 755sc. The outsiders. how
ever, did not buy in large enough vol
ume 20 support such q mark especially.
Z in view of the bearish feeling prevalent in
I the southwest. Rain predictions for
some OF the suffering country gradually
/ had its effect and the whole crowd chang
/ ed front. Wheat broke, the crowd sold,
coarse grains began to slip downward
ana prominent longs in wheat lOOsened
! their grip and dropped a good deal Of
their holdings Early there had been
much difference in the minds OF traders
regarding the probably course OF the mar
ket but a the market turned weak there
was 2 general hammering at prices and
May dropped to 737sc. There was a fair
export business reported today but eX-
/ porters report the situation at the sea-
board generally as discoUrag1ng. Cash
business also showed considerable I'M
prOVement No 2 hard winter being in
active demand. This. however, failed 10
help the market TO any extent and Nay
closed weak, &c lower at 74isc. Local re-
ceipts Were 3 cars, none contract grade;
( Minneapolis and Duluth received 262 cars,
/ or 2So for the three points against S0l last
week and $50 q year ago Primary receipts
were $4,000 bushels compared TO $4,000
bushels last year. Seaboard clearanCes
IN wheat ana -four were large al $4,000
! bushels. The seabOard reported &c loads
taken for export.
Corn was bearish to start with on the
growing bearish sentiment in the south
west and good weather in that country.
Although receipts today We're small and
estimates for tomorrow are smaller tho
crowd was inclined TO the belief that the
better weather could not but start early
grazing and thereby induce q freer move
ment IN short time. St Louis reported
Peoria Offering cash stun IN that market
the general trade was light and the gen
eT3l bearish conditions induced consider
able selling 1t was said that "A long line
of May wheat was sold out through brok-
eTs. Most OF the day corn and wheat re-
acted upon each other. Toward the close
as wheat became somewhat demOralIZed
corn broke in sympathy. May opened
was a weak recovery late, but May clos
ed weak. asd2<c lower at 6l1sd6llsc. Re
ceipts were 81 cars.
Oats were fairly steady in the face Of
weakness of other grains until the sharp
break that carried them all down. The
situation had changed little and there
was still that inclination TO stay out Of
OTIS by traders who expect something 10
happen soon in Nav that will affect other
options. May was subjected to some sell
ing and although the opening was un-
changed and prices did not fuctuate for
a long time there was an eventual drop
10 fSssc May closed weak, sc lower al
43Ssc Receipts IS cars.
Provisions for few moments early in
the day were inclined 10 be easy. The
hog run tailed exactly with the esti-
mate, but hogs We're still firm and as
good cash demand for provisions sprang
up. pit prices advanced. Scalpers sold all
products but the offerings were well TAX
en-. Trade was not large nor was there
any important feature unless 1T was the
marked firmness shown in the face of the
bad break in grains All Nav options
closed SC higher. Nav pork at SIS 42i4. May
lard at 50 - and Nav ribs at SS45
Estimated receipts tomorrow: Wheat.
y cars: corn 60 cars; oats . cars; hogs
o.