The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-31
CORN TAKES Pull
Bulls Make strenuous Effort
10 Keep Prices Up.
WHEAT ALONE LOSES
Higher Prices Tempt Prof.
Taking and Loss Follows.

Chicago, Jan. ga buoyant corn pit
was the dominant factor IN grain mar
kets today and for tine tended 10 lift
all prices. But though bullish sentiment
seemed 10 have taken hold Of speculation
again higher prices tempted profit tax
ing and the close brought loss OF sc
for May wheat and gains OF 14a2sc for
May corn and CSC for May oats. Pro-
visions closed SC lower al around
There was a big trade in corn and on
general higher range Of prices. a strong
cash situation has been gradually devel-
oping or the strength OF the cold weather
and stimulated speculation 10 activity.
Altogether this cereal was the strongest
and most active on the board. The situa-
ton IN the west and southwest was the
principal factor. Kansas City reported
a clearing out Of its surplus and an i'm
provenent IN the demand. Nebraska was
not offering freely. N general outsiders
were bulIish. Shorts here covered and
commission houses put II good buying
orders. a good support developed and
from an opening a share lower TO &c
higher at 62%063c. May advanced until
at one time it sold at sac. At such
prices. however, profit taking was pop
ular and most OF the gain was lost. At
the close May was firm. 14G2sc higher at
69G63i5c. Receipts were only IS cars.
The wheat market was not what could
be called strong at any time. For a few
minutes after the opening on the strength
Of better cables, small receipts and q few
buying orders, there was a short lived
squirt and the tone was firm. But later
selling orders developed and in spite of
the good influence Of corn the market
slowly sagged of. There was little Of
Importance in the news. Foreigners
were not n the market TO any extent.
Shorts covered at times on reports OF
bulllsh sentiment in the southwest and Of
poor shipments resulting from the bad
weather. When the market turned quiet
short sellers weer encouraged and helped
TO press prices somewhat. Nay opened a
shad higher 70 a shade lower al rec 10
7S7sc, sold up to 7s1s@l4c and closed sc
down at 7S15Gssc. Local receipts were
only 20 cars; Minneapolis and Duluth
reported 321 cars, making q total for the
three points Of 81 cars against 80 last
week and 391 a year ago. Primary re-
oeipts were 414,0o0 bushels compared with
5G2, coo bushels year ago. Seaboard
clearances IN wheat and -four equalled
923, 900 bushels.
The strength IN oats developed on the
corn buIgs On good cash demand which
has been steadily developing and on COW
ering by shorts. The market opened
higher and strong. but compared 10 corn
was quiet. Commission houses bought
well, but late profit taking eased prices.
May sold as high az 45c and at the close
was firm. sc higher ar 455sc. Receipts
were very small at q cars.
Provisions opened with a show Of
strength, influenced by a good hog mar
ket, the grain strength and a fair show
of buying orders. Offerings were not
heavy but prices lost after the early ad-
vance. There were narrow fluctuations
on selling Influences and the close was
easy. May pork closed sc lower at $3.50;
May lard, SC down at So a21k. and May
ribs sc lower at IS gls
Estimated receipts for tomorrow:
Wheat Is cars; corn. s. cars; oats, s.
cars; hogs, .. 900 head.
GRAIN AND PRODUCE MARKETS