The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-02-25
MAY WHEAT
WAS LOWER
Market Had BuIIiSh Tendency
Which Reacted
MARKET CLOSED STEADY
Center of Attraction in Pit
Yesterday Was Corn.

| Chicago, Feb. 24.-The corn pit was
trade today and that market was decid-
| edly bullish, but the weakness in wheat
| caused a reaction late in the day and
| the close was about steady, with May
lsc lower. May wheat closed 1zG5sc lower,
with oats down sc Provisions closed
higher to 1211c lower.
Wheat was strong early on higher ca
bles and on the strength in corn, but
the advance was not maintained. liberal
offerings from the local crowd causing
sharp decline during the latter part
of the day Trading was rather dull
and the volume of business in the aggre-
gate was not large. although there was
good demand for northwest account.
May opened lsGasc higher. at 7sG7si.c,
and under a fair demand from commits
sion houses there was an advance to 7SIs
QIsh4c. but later, on reports of expecta
tons of larger receipts in the United
Kingdom aftern next week. the price
broke TO 711sc. and the close was near
the bottom. I2Qtsc lower, at 77nqUl4c.
Worlds shipments were over 100000
bushels and the amount on passage in
creased LIZA bushels. The visible sup
ply showed a decrease OF 1900 bushels.
against a decrease of Loci. 900 bushels 4
year ago. Clearances of wheat and -four
were equal TO 29l.0o bushels. Primary
receipts were S2i0o bushels against $751;
200 bushels a year ago. Minneapolis and
Duluth reported receipts OF Ss1 cars.
which. with local receipts of 81 cars
l OF contract grade-made total receipts
for the three points 122 cars. against 4S
cars last week and 474 cars a year ago.
Corn was strong. Influenced largely by
the higher Liverpool cables. which were
up 2@7sc There was good general COM
mission house buying the demand being
to a large extent from shorts The
amount OF business, however. was not
large owing to a scarcity of offerings,
especially in May. although in the July
delivery there was a moderate selling
pressure. Small receipts were also a
bull factor. Selling on the weakness IN
wheat caused an easier feeling late in
the day and the close was about steady.
with May &c lower. at 45%c, after sell
ing between SAC and46ssc. Local re-
ceipts were fs3 cars. with only one Of
contract grade.
Oats were irregular and unsettled and
the volume OF business was small. The
early market was strong in sympathy
with other grains. but selling by COM
mission houses and realizing by the prin-
ClpdI lpilk Caused Il OeCiluc, the CiOSt
was weak. with May sc lower. at 351s
Q35i4c. after ranging between S5sc and
Sehc. Local receipts were 262 cars.
Provisions were dull and unsettled,
opening easier on a liberal run of hogs
and on lower prices at the yards. but
rallying early on a good demand from I
packers. with a scarcity of offerings, !
and declining again on selling by COM :
mission houses. The close was about
steady, with pork rather weak and 12sc
lower, at sIi.55. May lard closed a shade 4
higher. at s9.571zQ9e0 but ribs were sc
down at s962Ia. The late weakness in
grains had a depressing influence and !
helped to bring out liberal offerings dur
ing the latter part Of the session. :
Estimated receipts tomorrow: Wheat. .
50 cars; corn. go cars: oats 2O5 cars;
hogs Il 900 head