The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-02-19
WHEAT WAS HIGHER
Scarcity of Good Milling Grain
a Bull Feature.
CORN MAKES GOOD GAIN
Provisions Show FirmneSS
with Substantial Advance.

Chicago. Feb lS.-Millers here today
paid s1.07 a bushei for No. ? red wheat.
Wheat for May delivery sold at 1912 a
bushel. a gain Of an even two cents from
the low point of the day. Other de-
livelies were correspondingiy strong.
Scarcity OF wheat suitable for milling
purposes was the important factor in
causing the advance. The close was al
most at the top. May being l12qlssc
above yesterdays final figures. July
was II,c higher May corn closed at d
gain of 1sc, oats were up 54q7sc and pro-
visions ~ to &c higher.
Wheat openeu firm on strong cables,
May and July both being up l1scq1A
at IS to SS1sc and SS5s TO Sc, respectively.
ON the theory that the prospects Of war
complications in Europe had been con-
siderably exaggerated traders with bearsh
prociivities thought wheat should be sold
on that account Snow IL the southwest
also brought selling orders. May de-
clined to 915., while July sold off to SS14c.
on the decline. however, the demand be-
came urgent, the market advanced and
prices were soon above the opening fig
Ures Buying after the early decline was
Of a general character nearly all Of the
large houses taking that side Of the
market. Domestic news was Of an ex-
treuely bulIish nature. Scarcity OF good
milling heat was a feature. Private
dispatches stated that mflers at Interior
points OF Kansas and Oklahoma were
paying beyond the reach OF exporters.
Northwestern advices were Of a similar
tenor. Minneapolis reporting that black,
smutty samples sold for s5Qs7c a busel.
The seaboard reported the foreign sit
uation even stronger yesterday.
Late in the day May sold TO within
1ac OF the delivery mark. touching s91ec.
The close was strong. with may at 1895
ghc July closed Ike higher at SOC af-
ter selling at 90hc. Clearances of wheat
and flour were equal to 136,0o0 bushels.
Primary receipts were 1880 bushels.
compared with 3S9,5C0 bushels a year ago.
Minneapolis. Duluth and Chicago. report
ed receipts of 299 cars, against 24l cars
last week and 1T cars a year ago.
Corn had about the same experience as
wheat. huctuatings being sharp and sud
den with the speculative feeling ner-
vous one on account of the foreign sit
uation. There was a good deal of corn
for sale early by commission houses and
not much was wanted but later on offer
ings became rather limited/and many of
the early sellers had considerable dih-
Guilty in supplying needs when prices
started upward. Shorts were fair sell
lers and there was an urgent demand
from exporters. Aside from war the
chief bull factor was the scarcity of corn.
The strength of wheat, however, helped
to support corn The opening on May
was &c lower to 1sc higher at 553sc. At
ter declining to 551s414c. the price ranged
to S. but reacted on profit taking. The
close was firm at 555sc. July closed a
shade higher at 53A@%sc. Local receipts
were DO cars
oats were nervous and influenced large
" by the action of wheat and corn.
Scalpers had things about their own way.
but they were inclined to trade on con-
servative lines After opening a shade
to A02sc higher at 1874 to 44c. May de
clined to i3isc but closed AT the top at
44c. July was unchanged at 39Tsc. Loca!
receipts were 129 cars.
Buying for investment account and COW
ering by shorts. especially in May pork
caused firmness In provisions. At times
the market showed a tendency to weaken
but active support on the soft spots re-
suited in rallies. The close was firm with
May pork UP The at $1515 May lard
was 2ihc higher. at S77712. and ribs were
sc higher at $7.25
Estimated receipts for tomorrow:
Wheat. 10 cars; corn. 1875 cars; oats. 50
cars. hogs. $1,000 head.
The board viii be closed Monday.