The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-19
BULLS GB|D CONTROL
Grain Market Makes Good
Advances at the Close.
WAS HARD STEAY PULL
Wheat Closes 3-8 and Corn
and Oats Higher.

Chicago. Jan ls-Evlterce renewed
confidence as shown in good buying ord
ers gradually brought the grain markets
today under bullish control. Aided by
numerous hullish conditions good ad-
vances we're made al around after =
quiet opening and May wheat closed :. a.
cents higher. May corn IGssc higher and
May oats nc Up. Provisions closed ~ 10
SC higher
At the outset wheat had q compare
lively small business, but showed e de-
cided improvement in tone under the in
huenee OF improved spot ard future
cables and DRY weather damage reports.
A good deal OF short covering vas in
1ucsd by the rapidly rising bulllsh sen
tinent ard business grew brisk May
opened = 10 1s9rso higher az sois. s9E az
and steadily advanced here were r.
ports OF light rains in the southeast. but
not sufficient 10 help the suffering coun-
Try. Kansas City reported one-fourth
% the winter crop ruined The south
western markets reflected this condition
especially ST. Louis. where May was sell
ing ~ $40, when Il brought only sc
here. Reports were current OF renewed
foreign demand for spring wheat and
confirmation OF sales OF that hitherto
neglected variety came from Buffalo.
Some professional bulling at length set
in and the prediction cf freezing temper
atures in the winter wheat country. St.
Louis began 10 buy. May wheat closed
strong 2s3Esc higher at SIC. Local -
eeipts wers g cars. none OF contract
grade. Minneapolis and Duluth reported
81 cars. making total for the three
points OF 90 cars against rs last week
and acc n year ago. Primary receipts
were $4,000 bushels. compared with ClsI
GO bushels a yea rago. Seaboard clear
ances in wheat and -four equallsd s44Oe0
bushels.
Corn ruled firm and advanced steadily
on covering by shorts. Cables. especially
at the close were improved and helped
the buliish situation. Professional buying
early buIled the market following the
better tone in wheat. 4 good outside de-
mand soon sprang up. but n general the
buying looked Ike purchases for short
accounts. The northwest and St Louis
did some buying. largely By spprehen-
sion over threatening weather The cash
situation remained rather dull. shippers
reporting slow movement This. how
ever. had little effect on the growing
ouIlish sentiment and May cor nadvanced
TO z strong close. 1G1is higher at 50 67sc
Receipts were buliishly small at 4 cars.
Oats had q very strong market and
ruled higher throughout the session Of
ferings were scarce and tirnid shorts.
frightened BY professional buIiing. sour
ried 70 cover, sending prices upward.
Indications were that had not longs
dumped large quantities It would have
been runaway market Nay. which
opened the highest option OK the pits
sold up 70 4s1z and closed strong nc ad-
vanced az 45ssc. Receipts were Isl cars.
Provisions were rather duh. bus ruled
firm on light offerings and the grain
strength. Packers did NOS OF the sell
ing. The hog market was improved and
was A buIlish incentive Some outside
demand started a fair advance. The
close was firm. May pork closed nc up
at s17.121z: May lard PC higher at s. =
and May ribs zane advanced At $ ~.
Estimated receipts Tor Monday-Vheat,
: cars; corn. 1o0 cars: oats, 80 cars; hogs
e 800 head.