The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-03-01
PICK Up N GRAINS
Weather Plays Wheat Down
But Others Up.
CLOSE REGISTERS GAIN
Corn Is Strong Again and
and Leads in Advance,

Chicago, Feb. 2s-Grain speculation was
svayed by the weather today. General
storms had an early bearish effect on
wheat. but worked the opposite way
with corn and wheat traders who sold
short early were forced 10 cover. The
close showed May wheat I-2a5-Sc higher;
May corn s-4a7-sc higher and May oats
1c advanced. Provisions closed 5g7 I-2c
10 12c Up.
Corn was again active and strong and
led in the advance that marked al pit
trading. Gables small western eccep-
tances over night and some fair early
buying started 5Gilish sentiment again.
To this was added the influence OF the
heavy rains in tn west which Il was ar
gued would further embarrass the coUn-
try movement. Southwestern markets
were not over burdened by corn offer
ings- the receipts az both Kansas City
and ST. Louis being smaller than the
shipments. Most cf the prominent local
spectators took 70 the bull side OF the
argument and the pit traders who sold
early quickly covered Commission trade
was IN good volume and fairly divided.
Cash people reported Liverpool markets
out of line and too low. There was heavy
selling OF long stuff as the market ad-
vanced BY local people who bought a few
days ago between So and 60 but the mar
ket suffered mere by Il. May opened 1-Sc
higher a 81 lie. touched g. CSC and then
steadily mounted 70 81 1-4c. closing strong
S-4aT-Sc higher at e. 1-s51-4c. Receipts
were I30 cars.
Wheat opened less active and lower to-
day, but soon began 70 feel the strength
in corn and oats and ruled very firm.
Cables were disappointing and early, Of
fer1ngs were met with low prices. The
general rains and liberal northwestern
receipts weer additional bearfsh factors.
Bears began selling short at the outset.
The general business was not large. but
St Louis began turning strong and the
crop killer" again talked OF damage IN
Kansas and Oklahoma. Statistical pa
pers made favorable reports OF the corn
condition but traders who had sold short
became frightened when they saw the
spurts IN corn and cats and covered. The
southwest did some buying here as did.
ST. Louis. New York was reported sell
ing. There vas some fear that wheat
movement might be retarded with corn
because OF the storms. AL told the wheat
market was nervous May opened lac
lower TO unchanged at IS is 10 rs SIC. ad-
vanced TO nc. and closed firm, 1-295-sc up
at 70 7-s377c. Local receipts were 1e cars,
5 OF contract grade; Minneapolis and Du-
luth reported 3s7 cars, making a total for
the three points Of 405 cars, against 5l7
last week. and 342 year ago Primary
receipts were So. 900 bushels compared to
476. 600 bushels year ago. Seaboard clear
ances IN wheat and -four, equalled $50, co
bushels Argentine shipments were 10000
bushels compared to $4,000 bushels the
corresponding week last year. There were
no export demand Of business as report
ed.
Oats were active and shorts manifested
nervousness over the prospects Of fur
Their curtailed movement Receipts were
only So cars. There was a good commits
sion house demand early and some pro-
fessionai bulling. The corn strength also
had strengthening effect. Cash people
bought fairly. There was liberal selling
at top prices, but the general tone held
strong May advanced from - S-Sc TO
a 5-sc and closed 1c higher al ~ 1-2c.
Provisions made up some more OF their
recent losses and held 10 a strong tone
Lighter receipts and better prices at the
yards influenced a higher opening and
fair commission house demand and the
grain strength advances prices well Eng
fish houses did some selling. May pork
closed z 1-2c Up at sl5.f -; Nay lard.
7I-2c higher al S9.37 Il and May ribs
5G7 lie advanced az S. A. T.
Estimated receipts, tomorrow; Wheat,
s. cars; corn, $50 cars: oats g cars; hogs,
% GO head.