The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-18
BULLS GAIN GROUND
Trade in Grains Picks Up With
Renewed Vigor.
WHEAT ALONE Is LOWER
Corn and Oats Both Close l-2c
Higher.
WHEAT ALONE is LOWER

Chicago, Jan. 17.-Renewed confidence
and a general improved feeling charac-
terized the trade in grains today From
the start grains and provisions were
given good support, even though bust
ness was quiet. May wheat closed a
shade lower. May corn &c higher, and
May oats &c up. Provisions had net
gains OF from to INC.
Barring several active spurts, wheat
ruled quiet throughout the day. AT the
start May had a steady tone on the in
fuence of the improved cables and dry
weather reports. Opening prices were &c
lower to &c higher, at SOS to s07sc. For
eigners were reported buying literally
IN futures, but cash business was scarce.
After yesterdays excitement there was
not much disposition 10 take a stand, one
way or the other. The public naturally
held of for a time after such dis
turbances. The result was trade largely
local. Shortly after the opening the
weather bureau predicted rain for some
Of the wheat states and prices at once
slid of to 1850 >for May. SkepticaI bulls.
however, made just as quick q turn and
showed the price up again TO S02sc. Shorts
also covered freely, and commission
houses took advantage OF low prices
Rain talk and lower closing cables press
ed prices back TO the low mark again.
but the support was sufficient to bring
a steady close for May a shade lower
at S0lsS0i4c. Local receipts were . cars,
one OF contract grade. Minneapolis and
Duluth reported IA cars, 4 total for the
three points OF 4ss cars, against 57s last
week and 2s4 a year ago. Argentine ship
ments showed a heavy falling off-S6. 900
bushels for the week. against 64S. 600 BUSH
els the corresponding week last year.
Primary receipts were 534 900 bushels,
against $4,000 a year ago. Clearances
equalled $4,000 bushels. The seaboard re-
ported thirty loads taken for export.
Corn in general found good support.
The opening was somewhat improved on
cables and the wheat influence. The
cash market had also improved Early a
rather broad bull movement got under
way, tempted by the low prices. Local
receipts, too, were small enough 70 be
bullish. In spite OF the talk OF freer
country offerings II seems that corn does
not move this way rapidly. On the rain
news for wheat May corn sold back to
CSC, but professional buying at once sent
it up again TO 64c. ScaIpers and a few
commission houses did the. selling. To-
ward the end proft-taking and the easier
feeling in wheat lost corn soma of its
strength, but May closed firm, &c higher,
at sac Receipts were 81 cars.
Oats were firm and quiet, supported
well by professional traders. In general
It showed considerable Independence OF.
the other grains. The early demand was
in July, but later the bulk OF the trade
was for May. Prices fuctuated within a
range og &c. The better cash situation
was the leading influence. May closed
firm, nc up at 45Isc- Receipts, ~ cars
Provisions had a dull but frmer mar
ket. There was a moderate demand TO
start with and prices at the yards were
better. Prices yielded few points on
the grain says. but local buying espe-
cially for ribs. brought a good advance
ell around. May pork closed III cents
higher. at s1z05; May lard &C up. at
50. 72ls. and May ribs 10 Ike advanced
at s. 50. SSH.
Estimated receipts for tomorrow:
Wheat, IS cars; corn, 70 cars; oats, $50
cars; hogs, 5000 head.