The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-10
BULLS LASRED BADLY
Wheat, Pushed to High Poini
SIumps Accordingly
RECORDS LOST OF / CEN
Other Grains are .Broughi
Down Also.

Chicago. Jan s.-After being rushed
by bull movement TO the high poin;
by a bull movement to the high point
OF the year wheat siumped badly. lest l
cent and took the spirit Of the bulls in
other pits May wheat closed at . net
loss Of Ag1z May corn say on and
May oats Aa4s lower Provisions closed
unchanged az a shade lower.
Numerous ballish conditions conspired
with yesterdays curb strength to send
wheat up by rapid jumps at the opening
Continued reports Of the desperate condI-
ton OF the winter crops from lack OF
moisture had as much as anything TO DO
with the situation Cables were up a lit
tie, mainly OF New York curb strength.
but this with snail receipts aug red
we'll Professionals at once set TO buying
heavily and commission houses put q
food OF buying orders in the pit Nay
which opened 4 to &c higher. at s+7s 10
S4ssc, soon went TO SAC. From this price
there were numerous and rapid changes.
The market assumed much the same
character It had yesterday and became
nervous and cratic The government re-
port which IS expected tomorrow after
noon, set traders 70 guessing, and when
several large professionals began selling
for profit and numerous commission
houses followed their lead, prices slid
downward There were several rallies.
but the heaviness in corn and May wheat
helped to depress prices. Nay closed
weak. sake lower. at the bottom figure
for the day-s35s QS324c. Local receipts
were Q cars, none OF contract grade. Mn
neapolis and Duluth reported sol cars,
making total for the three points OF
SO, against S33 last week and $50 a year
ago. Primary receipts were $1,000 bush
els. compared with 1900 bushels last
year. Seaboard clearances in wheat and
-four equaIled only 10000 bushels.
Corn was active en- a declining market.
At the opening there was a show OF
strength on the wheat bulge, but there
was a heaviness over the pit that pre-
vented any decided advance Reports
from the west stated that the continued
mild weather brought a falling OF Of the
demand because of the lighter feeding.
Receipts here are expected to increase
IS a result Of this economy. Gables
were down trihe May opened slightly
Up and sold TO s7hG672sc. Commission
house selling in wheat brought profession
ais 70 the same attitude on the situation
and May slid down to a weak close, SsGa<
on at its low price for the day-657s Qs61zc.
Receipts were 15s cars.
Bullish activity in July options gave the
oats pit material strength for some time
after the opening. For the first hour the
trade here was the biggest thing on the
floor. It was tremendous bull market
while the buying lasted. This action IN
July has lasted three days and little at
tention is paid 70 news one way or the
other. May was relatively weak. The
cash situation was strong and offerings
light When wheat broke bears thought
It good point TO go short Of July, and
bulls we're glad to have them take that
view of the case, for the market is now
thought to be heavily over-sold. The pre-
vailing opinion is that this pit viii see
sensational features within the next few
weeks. on the short selling July, which
opened well UP and sold TO 42ssc-one cent
over yesterdays cIose-sank back and
closed &c up. at 412a0H7sc. May. opened
higher. sold up 10 use. but declined with
other grains TO an easy close. Ease down
al 46ssc. Receipts were 11s cars.
Provisions we're quiet. The hog market
was strong at the yards and the early
grain strength and some country buying
o. sork brought a higher opening. Pack
ers sold later and on the grain break
prices eased TO a steady close. May closed
unchanged at s17.27is; Nay lard shade
lower. at SO .e21z. and Nay ribs q shade
lower. at sS-0is.
Estimated receipts tomorrow: Wheat,
80 cars; corn. rs cars; oats. lS5 cars; hogs.
50 Csc head.