The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-01-17
WHEAT TRADE
WAS STRONG
Market Active and Dealers Ex-
hibited Excitement.
MAINTAINED HIGH PRICE
Long Stuff Not Disposed
Which Aided Market.

Chicago. Jan. l6--Trading was active
again in the prain pits today, and wheat
ruled strong May closing sc higher.
May corn was &c lower and oats were
&c lower Provisions were easier, May
pork closing 15c lower May lard was
off 5G71zc, and ribs down &c.
There was an active trade in wheat
and the market at times exhibited con-
siderable excitement In spite of heavy
liquidation by locals and outsiders. prices
maintained a higher level, although there
was slight decline early. general selling
brought on by the rumor that the lead
ing long was unloading his former ia
nous holdings. Instead of disposing of
an ylong stuff, however, the leader OF
the bulls added still further tc his long
line. which fact was mainly responsible
for the strength of the situation. May
opened 1sHi4c TO &sd1.c higher at 7Sd7sl4
but sold off to 17sc early In the season,
only to rally again to 7Sd78hc. Renewed
selling caused another decline to 77i2c
but good export demand resulted in a
late mulge and the close was near the
top. with May CSC higher, at 1915 d7sl4c.
and reports of unfavorable weather in
Argentina. Exports of wheat and -four
for the week, according to Bradstreets,
were iSIS.00 against 1880 900 last yeaf
Clearances of wheat and -four were equal
to 332. 900 bushels. Primary receipts were
$4,000 bushels against $500 year ago.
Minneapolis and Duluth reported receipts
of 1888 cars, which with local receipts
of "a cars, made total receipts for the
three points. 422 cars, against 314 last
week and 43S a year ago.
There was heavy realizing in corn all
through the day and the market gener-
ally was weaker, with the January OPP
ton especially weak. although covering
by shorts and a fair export demand
brought out rally late in the day and
part of the early loss was regained. jan
nary opened unchanged to 1sc higher at
4S%sq sic; but heavy selling caused a
decided increase in the cash offerings
from the country. resulting in a break TO
isl4c; but firmer feeling developed la
ter the close being nc lower at 47L.c
May ranged between a and 44Lsc and
closed &c lower at 44AQ44ssc. Cables
were easier and Argentine advices very
ouilish. large crop being predicted.
Local receipts were small. 2S1 cars with
only one of contract grade.
Following Stron gopening the oats
market developed considerable weakness
under enormous realizing sales by COM
mission houses and local longs. Cash
houses were also large sellers. the in
creased offerings from the country being
an incentive. On the decline the offer
ing swere well taken by shorts and the
close was firm. with a part of the loss
May was sc lower at 3614 after
selling between 35l. d3614c. Local receipts
we're 1872 cars.
Provisions ruled dull and the market
vas weaker due to profit taking both on
ocal and outside account. The opening
was firm on a strong hog market, and
strength in grains. May pork closed 15c
over at s16.421a; May lard was off 5I
&c at s9.50d9 5215, while ribs were &c
over at 1905
Estimated receipts tomorrow: Wheat, |
% cars; corn, 375 cars; oats, 2l5 cars; |
hogs. 200o0 head.