The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-01-27
MAY WHEAT
WENT HIGHER
Advance Was Not Maintained
and Closed Weak.
WHEAT MARKET NERVOUS
Reported France Was Buying
Heavily Caused Advance.

chicago, jan IA new high price for
this seasons crop was made today when
May wheat sold AT s2a.c, but the advance
was not maintained and the close was
weak and Sc lower May corn closed
SO higher. while oats were c lower
Provisions closed steady. with the May
delivery unchanged to 2l-c lower.
The wheat market was a very nervous
affair and trading in general was only
moderate The leader of the bull cam
paign was on both sides of the rnsrte,
but the total amount OF business for his
account was small There was consid-
cradle selling early on cables and MAY
declined 10 e2.c, after opening a shade
10 "a lower. at N5sas3c. but on re-
ports that France was buying heavily
tnere was quick advance. the price
selling up TO s2ssc. After another decline
there was rally TO s2z.c, but an easier
feeIing developed in the latter mart Of
the session and the close was weak and
@sc lower. at aAsGH%c. after selling al
sI1-c- The news, while OF all sorts. was
mainly bearish- Rains in aChfornia. re-
ported increased offerings by Argentina.
ana an increase OF the exportable sur
Plus together with rains in India. all
combined 10 induce freer selling The
iater weakness was on large primary re-
ceipts, which were twice those OF last
year, being l.I6o.t.o bushels. compared
with $1,000 a year ago The cash de-
mand was less urgent and late reports
showed a light export business The
amount on passage showed a decrea 90
OF 6so'eS bushels. and the visible SUNNY
decreased s52Uo bushels. CIearances ~
wheat and -four were equal TO $50 ao
bushels. Minneapolis and Duluth re-
ported receipts OF os cars. which with
-ocal receipts of s. cars-I OF contract
grade-made total receipts for the three
points OF s5 cars, against So cars Issr
week and 3l2 cars year ago.
There was good trade in corn ard
the prevailing sentiment was quite bull
ISM IN spite OF statistics which were
generally bearish Primary receipts were
large ana had a weakening tendency
but the cash and export demand more
than Offset this influence The buyinx
was mainly by commission houses and
local traders The close was firm. with
May "a higher. a 45isc. after ranging
between 447sc and 45Izcc. Local receipts
were 4s5 cars with none of contract
grade. the weather being rather unfav-
orable FOR both the movement and grad
ing.
Oats were duh and the opening was
easier on liberal receipts The strength
in corn was a help and caused a better
feeling early. but selling by brokers and
local traders caused a reaction and the
close was easy. with May lower. at
seGS61sc. after selling between DC and
3611c. Local receipts were Al cars
A strong hog market caused firmness
in provisions at the start. but the early
strength was soon lost on selling by com
mission houses. supposed 10 be for the
account OF packers. and prices held bare
~ steady. The volume OF trading was
light. May pork closed unchanged at
1850; May lard was 2i2c lower, at g. e2I-.
while ribs were unchanged. at se.271
Estimated receipts for tomorrow:
Wheat. - cars: corn. so cars: oats
$50 cars; hogs. 30oo head