The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-02-18
GRAINS TURN DOWN
Lower Prices Grasp Pits With
Terrible Grip.
BULLS RUN CLEAR OUT
Make Showing in Wheat and
Then Hit the Pike.

Chicago. Feb. 17.-Grains on the hoard
today experienced a quick change in
prices All potions had good early ad-
vances. out soon turned dull. May
wheat closed ssG1z lower; Nay corn 3
&c down ard May oats isGEc higher.
Provisions closed 5g7lz 10 19c higher.
There was a little wave Of bull feeling
at the opening II wheat Cables we're
firm and world statistics were bunish.
There was some fair buying by commits
sion houses early. and the bUlish senti-
Dlent carried over from Saturday with
aovarces in corn and oats, helped prices
upward May opened E0l<c higher 10
SHADE lower at lS3sc TO ssssc and speed
Ly advanced TO &c. Almost every bit OF
available news was bezr1sh. There was
French cable claiming probable injury
70 tbs wheat crop from the hard winter.
although regular c1DleS old not snow
5dVanceS hy. reason or this report Worlds
shipments n1d fallen OF nearly 20.geJ
bushels from weekly requirements. a TO-
TAI fer the week Of 6.4u 90 bushels,
against 9,tol coo Bushels last week. The
amount e breadsturs on passage ha5
been increased only $4,000 bushels and
the visible supply fell OF lll5,000 bushels.
Dizziness IN trading. however. and tha
fact that the Outsider was not II the
market, worked against prices When
79c was reached for May. commission
h0cses scid and as other grains lost their
4 ]
bears had been short early and had Gov
cred and thus helped in the advance. took
courage and sCld short again. though not
to a great extent May slid Of to 781sG
and closed weak ss4-ac down, at 1sllc.
Local receipts were only twenty cars.
three Of contract grade. Northwestern
receipts were liberal, Minneapolis and
Duluth reported 5S5 cars, making a total
3S2 last week and SIS a year ago Sea
board cIearalces IN wheat and 7our
equaled 49,, coo bushels Primary receipts
were 60 90 bushels. against SCI, coo bush
els = yea rago. The seahoard reported
forty-three loads taken for export, too
late to help the sagging market
Corn had good uptUrn early after
lower opening or Unresponsiye cables
Tie squirt IN cats and the good tone 10
wheat, had a bullish effect. but when
selling Vas attempted OF the bulge.
prices cOz3d not hold their gain. Absence
CT ords-s the late easier tone In 0hact
and prospects or increased country Of
ferngs. caused liberal selling The Eenti-
merit toward the close changed rom
good tulIish tone. 70 one decidedly bear
ish No effortt was made to support
prices and May. which had sold az k.24e,
dropped 10 6ls62,c. The close was weak.
Nay ssqs4c lower at 6Is4e- Receipts were
l64 cars
cats had a nervous opening. The t ar
ket aGTanced easily on commission buy
Ing offerings were light and reports OF
cash purchases for the east contributed
to the strength. Elevators also were bid
ding. There seems 70 be a tense feeling
over thu concentrated May situation
Shorts were very uneasy and covered.
When wheat and corn turned hearlsh,
this Pit lost much OF its early gains. Not
wlthstanding this, oats showed good
strength throughout the session May
opened unchanged TO sc up at f3A 70 $50
and sold to A4ssc and eased. again closing
firm kQisc higher at 49, 644c. Receipts
were eiscty-fOJ,r cars.
Provfsi Sns were dull and easier. Re-
ceiDtS AZ the yard were 1S.100 head in ex-
cess OF estimates ana caused lower open
ing. Packers sold somes but the market
shower remarkable strength. considering
the run of hogs. Day closed 10c lower at
sl5S7iz; Nay lard 5I7iac lower al So
s. 47is, and May ribs ~ lower at -
$3.50. Estimated receipts for tomorrow:
Wheat 80 cars; corn 20 cars; oats. 195
cars; hogs, 4. eco head