The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-30
BULLS RULE AGAIN
Nervousness in Grain Pits Is
Oissipaled.
CLOSE NEAR TOP PRICES
Strength in Corn Is Prime In
huence on Board.

Chicago. Jan. 2e-There was a return OF
bull conditions and bull feeling 20 the
grain market today. Nervousness. re-
sultant upon the recent raid in cats.
seemed to be dissipated and all markets
closed near the top prices. May wheat
gained AG1A; May corn tzG2 and May
oats 2i4d29s. Provisions closed 121z 10 G7lsc
higher.
While the trade IN wheat was not so
brisk as in corn and oats, the volume
was greater and this pit became the lead
ing specula tive market General publish
conditions prevailed. Gables were much
higher. though thsre was no advance
here yesterday. There was a report OF
fair export business and the southwest
had bought well of red winter wheat,
northwestern local receipts were very
small and loca Offerings were scanty.
Coarse grain went up. especially IN the
western markets. Commission houses
had very good-buying orders and scalpers
were the only ones who sold early. May
opened 3 TO SC up at 7Sls to 7s1s and
mounted steadily with but slight sethacks
up 10 &c; Kansas City reported little
movement of wheat TO market because
I interior mills were paying higher prices
Even on the advance there was an alb
sence Of selling pressure in the trade
May closed strong 11s6f4 higher at no
Ts. local receipts were only eight cars,
one OF contract grade; Minneapolis and
Duluth reported l69 cars making n total
for the three points CT III cars, against
316 last week and ze9 a yea rago. Primary
receipts were $4,000 bushels, compared
to 400 bushels last year. Seaboard
exported ten loads.
The strength in corn was the prime
influence on the board today. Traders
had number Of things TO influence re-
turn TO bullish sentiment Gables were
higher; there we're reports Of foreign
buying; the Argentine crop was said TO
be damaged and local receipts were small.
Kansas City messages declared that
after February 1, that market would not
De able 70 get more than fifty cars a
day and that present consumption is 80
to geo cars daily. Western offerings
were very small and the cash demand
there good. May opened firm. = to Il.
higher and sold up with hardly a break
to 6224a7sc. The close was strong, May
17sa2c higher at 6224c. Receipts were 50
cars
Oat traders settled down again TO the
belief that the pit was solid for the time
being. at least Liquidation by outside
holders seemed over and all the weak
ness due 70 the recent forced sale of a
Kansas City traders long line, seemed
TO have been overcome At the outset,
prlces were firm. Offerings were small.
receipts were light and commission
houses had good buying orders The
provision crowd scld early, and for q
time kept prices down. but the other mar
kets were too strong and the apparent
desire on all hands TO buy, soon brought
a good jump. May, which opened at =
to 11sc up, closed very strong. having
made up all its recent loss. The net gain
was 2i4Q29s at AZ. Receipts were only
81 cars.
Markets for provisions gained material
strength from grains though there was
natural firmness from the light re
ceipts and better prices at the yards.
Shorts covering also helped the upward
move. May pork closed at top prices 271.c
up at 1855; May lard 15c higher at
So Az and May ribs 1215c up at SS4T4.
Estimated receipts for tomorrow.
Wheat, 20 cars; corn. IS cars; oats, -
cars; hogs, 5000 head.