The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-03-11
WHEAT GOES LOVER
After a BuIIish Opening in the
Chicago Market.
CORN GOES DOWN ALSO
An Excess of 10000 Hogs
Broke That Market.
CORN GOES DOWN ALSO

| Chicago, March 1o.-Neager reports of
showers and prospects of good rains 10
tho southwestern wheat country took the
l bun support of dry weather away from
wheat today. After a decidedly bulish
orening in all grains. spectators were
forced to change front. At the close May
wheat was &c lower, May corn 1zG5se
down, and May oats &c of. Provisions
/ lost 21k TO cents.
AT the start in the wheat pit there
was a goodly array of bullish arguments.
| Cables were firm, both at Liverpool and
Paris; continued dry weather was report
! e: in the winter wheat belt; receipts
were light and commission houses had
good buying orders. Coarse grains were
improved end aided in the upturn. IN
der the influences May opened ssc to &c
ar 7s1s0777sc, and advanced TO 7SAc. On
| the advance numerous longs who had
bought early last week sold for profits.
Prices steadied for some time around 7Sc,
but when reports arrived of showers in
Sc me localities Of Kansas and Nebras ska
the prop under wheat gave way, selling
became general and somewhat heavy and
prices declined There was much spec
Llation as to what the government report
OF grains in farmers hands would state.
There were bearish preliminary esti-
mates that the reserves would be from
$50 100000 bushels to 2OO.OOO,OOO bushels
Trade was fairly active. May closed
weak. &c lower, at nc. Local receipts
ere "a cars, one of contract grade; Min
neapolis and Duluth reported AS cars,
making total for the three points of
47s cars, against 502 last week and 654
year ago.
Worlds shipments were SOL. 900 bush
els, compared with 900 bushels last
year. On passage, breadstuffs increased
go 900 bushels. The visible supply de-
creased $4,000 bushels. Primary re-
ceipts were $4,000 bushels, against 417,OOO
bushels year age. Seaboard clearances
in wheat and -four equaled 290 900 bushels
The seaboard reported $40 loads taken for
e. port.
Corn was Influenced chiefly by wheat,
ruling firm at the outset and sagging off
o" the bearish news, though not to such
an extent as wheat. After the first hour
trade was inclined to dullness. Gables and
light recveipts, together with the wheat
strength, brought the opening bulge But
the continued warm weather seemed to
weaken the holding sentiment in the
country. Cash offerings were still light,
but as wheated eased, long corn was sold
and the decline followed, the local crowd
in the main waited for the government
report May opened strong and sold as
high as 62IaG625s, sold down to 611k661ssc,
and closed weak, 15Q5sc lower, at $50
Csc. Business was confined largely to
pit traders, though the conspicuous sell
ing was for st. Louis. Receipts were
small at 101 cars.
oats were dull, with prices Inclined to
sag in sympathy with other grains. May
was offered freely a times, but was fairly
well taken and suffered little loss IN
price. Punctuation was very narrow, the
bearish sentiment being Offset to a slight
extent by reports that large quantities
were to be shipped out May closed
easy, &c lower. at 44411Ac. Receipts were
IL cars.
An excess of 12,0O0 hogs over the esti-
mated run broke the hog market and in
fluenced liberal selling in the provisions
Fit. Grain weakness worked against a
Slight show of strength on the absorption
o. offerinfs. and products closed easy.
May pork closed &c lower, at s15.25; May
lard 2lz to sc down, at S9.37ia, and Nay
ribs PIC lower, at sS.S5aS. 371k.
Estimated receipts for tomorrow:
Wheat. 30 cars; corn, 10 cars; oats, $50
cars; hogs, 1000 head.