The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-03-19
MY NHEAI HIGHER
Bad Crop News Was Leading
Factor in Advance.
CORN A SHADE LOWER
Provisions Were Dull and Un-
affected by Grain.

Chicago, March 1s.-Bad wheat crop
news was the leading factor in the re-
covery Of strength in the wheat pit after
yesterdays weakness. The warm weather
influenced lower prices in all grains at the
opening, but wheat lent its strength and
at the close May wheat was Fake higher,
May corn a shade under. and May oats
&c down. Provisions closed unchanged to
PIC higher. Trade in wheat, as mother
grains, started out slow and irregular.
The warmer weather in the winter wheat
country and still more predicted, nstu-
rally killed all the cold weather influence.
At the opening there was p.enty OF wheat
for sale. partly as a result of lower ca
bles Shorts, however. covered freely,
and there were several fair reactions.
Then bullish news began TO arrive.
Bradstreet's report indicated a decrease
of 3,500,000 bushels in the world avalla-
He supply. This helped prices, as did
the receipts OF the worst crop damage
complaints yet received from Kansas and
Oklahoma. It was reported that Mani
toba wheat was arriving freely at Duluth,
and this proved a bearish influence. On
the other hand, prices Tor Manitoba
wheat, which a week ago were cents
under May options, were today only q
cents under. The western and north
western movements were curJa1led as
compared to last years figures. On the
whole, though early Nay wheat prices
were under Yesterdays closing figures,
the crowd was inclined to play for re-
covery. May, which opened shade lower
TO a shade higher at 14lz to A2sc, eased TO
742c and then reacted 10 i53sc. Had
there been a fair volume or OUTSIDE bus
mess, the market might have shown con-
siderable strength. St. Louis was a de-
pressing factor and the weather also pre-
?Gjsc higher, at 75c Receipts, 53 cars, one
contract. Minneapolis and Duluth report
eG So cars. a total for the three points
OF 435. against SlS last week and 5l6 y
year ago. Primary receipts were $4,000
bushels, compared to 7Sl.0O0 q year ago.
Seaboard clearances equalled l56,VJO bush
els
Early sentiment in corn was very bear
ish Cables were lower. and the warmer
weather west worked against the demand.
Selling was general, and at times heavy,
though the market had numerous dull
spots. There were no important features,
and in the main the market was poorly
supported. Country offerings were still
small, but the recovery attended the
show Of strength in wheat. My opened
1s6tA to ?alzc lower, at 6la@sltzc. When
wheat recovered. May corn sold to 81 &C.
Offerings still were sufficient TO supply all
demands, and May closed with a Slightly
easy tone, a shade lower, at 6lric. Re
ceipts, ISL cars.
There was a little furry in May oats
early. Traders had some selling orders
T., execute and as the market declined
numerous stop-loss orders were met, and
before the market Steadied, May lost
11kc. Nervousness still is maintained by
traders over the May deal. Gossip has
it that the prominent long holder has
disposed of his stuff. and has gone into
July options. Both July and September
were fairly steady all day, and 1uctu-
ated with the other grains. May, which
sold as low "a 1850, recovered much, but
closed weak, PC down, at 44?c. Receipts.
155 cars.
Provisions were very dull and fiuctuated
narrowly. Bulls suffered a disappoint-
ment over the action from the market
which in the face OF falling short 1900
head in the hog receipts under estimates.
showed little life. The market did not
feel the effect of the fluctuations in
grains. May pork closed &c higher, at
SIS. BIZ; May lard unchanged, at S9.S5, and
May ribs 21ac higher. at sS.35.
Estimated receipts for tomorrow:
Wheat 80 cars; corn, 20 cars; oats, 60
cars; hogs, 81, 90 0head