The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-02-27
NERVOUS IND WEAK
Varying Opinions on Crop
Conditions UnbaIance Prices.
DAYS CLOSE is HIGHER
Damages Reported From Kan
sas and Oklahoma. Aid Bulls.

| Chicago, Feb. 2s.-Widely varying opin-
ions as 10 crop conditions and rapid
changes in sentiment Influenced nervous
" active grain markets today. Fairy IN
the session all pits were weak and even
tuaIly became over sold. Later recurrent
damage reports formed the markets and
May wheat closed sc higher; May corn
/ &c up and May oats gale higher. Pro
visions closed depressing day 10c TO
| 35c lower
Wheat ruled weak early ard sold lower.
Several bearish factors were at work,
such as unresponsive though slightly
higher cables, heavy receipts and fair
weather. These turned yesterdays
buyers to the selling side. Several prom
inent bears sold short and were coined
by many Of the longs. Liquidation was
rather general early and the outside
markets were all somewhat lower 4
few crop damage reports came IN, but IN
spite Of them q great deal CT whea- was
for sale Ever reports that many had
taken more stun on the break yesterday
than had been supposed. did nor help
prices Gradually however, TIE Nqui5a-
ton ceased and the crop killer" had
chance to get his work in. Damages
were reported from Kansas. Indiana, Ok
lahoma and Nebraska and the outside
markets began working upward. This
frightened shorts, who covered eagerly
as the western reports c3me In more
frequently. There was decidedly mora
snap TO trade than for some time and
the relatively stronger position Of the
coarse grains helped wheat. May opened
Bd1lc to ssG15c down at 76 to 7524c and
sold off 10 75ssc. The reaction took May
up to 1850 and the close was firm &c
higher at 761zGssc. An early error in
posting the Northwestern receipts 100
cars larger than they really were. when
discovered had little strer gthening ef-
feet. Trade was fair and showed q good
increase after the early Tower prices
Kansas City reported that western cffer-
ings Of wheat wero not Increasing. Local
receipts were thirty-two cars. two OF
contract grade; Minneapolis and Duluth
reported $50 cars. making a total for the
three points of 4s2 cars, against 249 last
week and 2S4 = year ago. Primary re
ceipts were $1,000 bushels. compared to
$4,000 bushels last year. Seaboard clear
ances in wheat and -four equalled $4,000
bushels The SeaDoard repOrted thirty
eight cars taken for export
Corn held firmer than wheat all through
the Cay and was somewhat more active,
though It sold lower early and turned
strong late, the same IS wheat Cables
were better and Influenced a firm open
ing. May 10 higher % unchanged at co.'s
10 60. The bear crowd. however, ham
mcred This pit and under tho influence
OF the wheat break. corn eased TO 5g5kc. Z
The pit vas oversold to some extent and
when a prominent bull professional
started IN 70 buy heavily at the low
prices. ths chowd changed their senti-
monts and bought freely and covered
short accounts. The actual situation Of
the corn market. experts say, is very lit
tie changed The milder weather has
curtailed feeding, but Notwithstanding
this. commission houses generally. have
advised WATCHING the market closely. No
marked increase jn western offerings is
expected for some time One OF the Irin- +
cipal bull factors was the total western (
corn movement Of only 402 00e bushels. +
compared with 1.056G00 bushels the same /
day last week. May fought hard against /
the early depression ana when the tide
turned. rose buoyantly TO 607sc and closed {
strong &c up at 607sc. Receipts were !
113 cars
oats opened strong and higher On /
lack OF offerings There was little HAY
wanted. but there was practically rome I
for sale and the market advanced &c 7
TO light supply the demand Then bust !
ness turned dun until a prominent long
holder went into the pit and bulled the
market. There was a very uncertain
feeling in oats and the crowd was plan
ming q watching game The cash de-
mana WdS SOMEWHAT ptLLeIs though lle T.
sudden upturn in futures restricted sales. /
Corn weakness early eased May momen- /
tarily after the higher opening, but the
later strength in that pit also tended TO
help cats. May closed 7sGlc higher at
432sdlz &c. Receipts were 90 cars.
Provisions were weak and much lower I.
throughout the session. The opening was
lower or a lower hog market n the
yards. ard shortly after the start a hard
ord nj ,fH-
declined in sympathy and selling was
rather general. A little buying was done
by the packers. but noe enough TO cause .
a good recovery. The late grain strength {
helped a little, but later commission /
house selling IN the products caused a
further decline May pork sold as low as
Sl5.15 and closed CSC down at SI5171s. +
May lard closed 15Gf71zc down at 500
and Nay ribs 10c lower at $50. Esti- .
mated receipts for tomorrow: Wheat (
twenty cars; corn 10 cars; oats 50 cars;
hoes - 90 head