The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-01-31
BULLS TAKE PROFITS
More Peaceful Tone in Orient
Affects Wheat.
MARKET BREAKS A CENT
Corn, Oats and Provisions
Make a Decline.

Chicago, Jan. 9O.--The less beligerent
tone of news from the Orient was the
main influence in the wheat pit today.
Small holders took profits, causing de-
cline Of nearly d cent in both the July
and May deliveries. Some of the loss
was recalled but the close was weak with
May2s@1.c below last nights final figures
May corn closed 1sa54c lower, but oats
were up sc.
Provisions were nc to soc lower.
The leading bull operator supported the
wheat market on breaks early in the
Gay and there was also scattered buying
from commission houses but the demand
was not nearly 50 urgent as il has been
recently. In the face of higher prices
at Liverpool, opening quotations here
showed losses, May being off shade
to H03sc, at 902sc to 90ssc. July opened
1sGAc. to L.1ssc lower, at S2ssGS27sc Lo-
cal holders were inclined to dispose Of
their lines. and in spite of moderate buy
ing by the big bull interest prices be-
gan to seek a lower level. May declining
S97sc. and July to S22sc. within the first
half hour Trading was of a dragging
character the greater part of the day.
The market exhibited renewed signs of
life at one time when, on a report the
big holder was selling July, quite general
liQuida ton in that delivery developed.
The price quickly dropped to SIC, and
May sold off in sympathy TO S924c Later
il, h., do NOS mi
tested or less pressure to sell. but the
improved tone was only temporary. Re
newed profit taking and evening up sales
over Sunday caused weak sentiment to
prevail at the finish. \ less bullish cash
situation in the northwest had Il de-
pressing influence on the speculative
trading here. May closed 3sG12c lower
at 904c, while July was down 94Q3sc, at
S214c. Clearances of wheat and flour were
equal to Sos, 200 bushels Primary receipts
were $4,000 bushels, against 56S,400 bu-
shells a year ago. Minneapolis, Duluth
and Chicago reported receipts Of 2S3 cars,
against 1913 last week and $50 year ago.
Corn prices declined slightly in sympa-
thy with wheat and on selling credited
to a leading packer but taken as a whole
the market was steady one. Cables did
not respond to the advence here yester-
day and there was some profit taking
on the improved prospects for peace.
Commission houses were the best buyers.
The close was steady with May 1s414c
lower. at SOS. after opening a shade
lower to a shade higher. at 5ol4dJ0Ssc,
and ranging between 5OG502sc. Local re-
ceipts were 27S cars. none of contract
grade
In the oats market the strength in
cash articles more than offset the in
fuence of the easier tone in wheat and
prices ruled firm throughout the day.
Trading was largely by commission
houses. After opening unchanged to
lie lower at 422z to sc, May sold between
42a4 and 431lc closing at $3.50. Local re-
ceipts were "A cars.
Liquidation by commission houses and
selling credited to packers caused weak
ness in provisions. \ late decline in the
price of hogs added to the depression.
May pork led in the decline. closing with
a loss of 80. at 1302l2 May lard was off
1214c $50. while ribs were down 712cQ10c
at s6.6OG&6.62l9.
Estimated receipts for monday:
Wheat. so cars; corn, $50 cars; oats. 1870
cars; hogs. 81 ,000 head.
Leading futures ranged as follows: