The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-02-14
WHEAT STRONG ABROAD
That Was a Bull Factor in the
Grain Pits.
CORN AND OATS FIRMER
Prov sionS Lost Part of the
Recent Gain.

Chicago, Feb. 13.-SpecuIative trading
in the wheat pit here today was a re-
Election of the higher prices being paid
for the cash article in all outside grain
markets. The strength abroad was also
bull factor The market here closed
firm with May wheat Adasc higher than
Thursdays market May corn was up
s.Q7sc. while oats showed a gain Of 1isc.
provisions were easier closing &c TO 10c
lower.
The wheat pit was affected more b.
the strong cash situation reported from
all quarters than by any other factor
The demand was practically for the July
delivery. the congested condition OF the
May option offering small inductme 70
the majority or traders Wheat prices
at liverpool and Paris were considerably
higher than yesterday and the fact that
these markets showed gains in the face
of increased shipments from Australia
and Argentine helped TO instill confidence
into the minds of traders here. May open
ed ssG3sc to 5sda4c higher at 96ls TO
S61ac. while July was up L TO &c at S.
l.c. There was an early advance to IS
7scdS9c for july on an active demand
but the May option held about steady
during the first hour. Loading long took
advantage of the advance in the price
of July and sold out considerable line
Smaller traders followed the lead and,
in consequence. a break to $50. occur
red. The downward trend of the July de-
livery affected May forcing the price
down to $50 st. Louis houses covered
a big line of July during the last hour
The market responded TO the improved
demand. and prizes again reached the top
figures. Some of the advance was subse-
quently lost on profit taking but the close
was firm. with May at $3.50. July had
a net gain OF 1d1Isc. closing at SSa4 =.
Clearances of wheat and flour were equal
to 239. 500 bushels. Primary receipts were
6S3, 10) against 624,So0 bushels a year ago
Minneapolis, Duluth and Chicago report
ed receipts of 494 cars, compared with
80 cars last week and A. cars a year
ago.
The corn market was strong but the
volume of business was small OWNS 10
a lack of offerings. The opening on May
was 1sGHc TO $s0lzc higher, at 54isc TO
542sc, and after selling between 94Isc and
$40 cd7sc, closed at 5434c. July was up
2.@l5c, closing at 527sc. Local receipts
were 1911 cars. one of contract grade.
The feature of trading in oats was the
heavy buying of both May and July de-
liveries by the leading bull houses. The
close was practically at the top figures.
May was unchanged to &c higher, at the
start, openinfi at 43 to 43l4c, and after
selling up to 44Ac. closed at 4Tsc. July
closed Sc higher a. 393sc after selling
between 39i4G2sc TO $3.50. Local receipts
were 129 cars
The provision market was weak early
in general selling due to liberal receipts
of hogs and decline of 10c in prices at
the yards. Later shorts covered freely
and on an increased investment demand
and support from packers and market
firmed up. Part of the early loss was re-
gained There was some late liquida-
ton which caused an easier feeling at
the close May pork opened with a loss
of 221zc to Soc at s14.52iz to sl4.6O and af-
ter selling up to s14.S212 closed at sl4 7215.
May lard closed with net loss Of 7lac
at s. 65. Ribs We're off st at SG07la.
Estimated receipts for Monday: Wheat.
So cars; corn. Cos cars; oats, 335 cars;
hogs, % 900 head