The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-02-28
WHEAT BREAKS AGAIN
Fell Three Cents a BuShel But
Recovered Same.
OTHER GRAINS LOWER
interest Centered in Pork
Which Held Steady.

Chicago, Feb. 27.-Liquidation on huge
/ scale caused a break of SIC today in
/ May wheat. profit taking supposed to
! be for the account Of the Armour in
| terest started the selling Much of the
! decline was subsequently overcame. the
/ close being 14c down. May corn is of
SC oats &c and provisions to 17l2c
The biz slump in wheat came shortly
before the close. The opening was weak
on lower cables, both English and con-
tinental markets showing losses. May
was &c lower 20 CSC higher at $1-e%4 TO
$1.C5I4, and July was off &c To sc, at
So. c To $3.50 During the first few min
utes Of trading the leading long interest
was an open seller Of the may delivery.
Profe ssionals also took the selling side.
In Consequence May declined TO S1.04 but
the July option held comparatively steady
around 9Cc, after touching 95i2c. early il
the trading noticeable feature in the
early situation was the absence of any
influential buying The market lacked
it's usual support. the reinstatement Of
ing reason was that most Of the large
traders were disposed to await develop
men over Sunday Another factor in
discouraging general buying early was
FOR the purpose Of. enabling the purchase
of July wheat at lower prices. As the
session was nearing the close there was
a sudden outbreak Of spectacular selling
OF May The heavy orders were generally
supposed to be for the account of the
principal long The general selling move
mont thus suddenly inaugurated resulted
quickly in a severe slump in the price of
the May option. From around S1.05. May
dropped TO SIO11z Many loss orders came
out accelerating the decline. on a par
tial cessation of the selling of the large
portion of the loss was recovered within
the last few minutes of trading. Closing
figures on May showed a ret loss for
The day of 1l4c. at $O35s. July was down
&c at 962sc. Clearances of wheat and
-four We're equal to IS 100 bushels Prim-
airy receipts were $1,000 bushels. Min
neapolis. Duluth and Chicago reported
receipts Of 321 cars.
Lower cables and weakness in wheat
caused an easier feeling in corn at the
start The opening on May was ; to &c
lower. at .612d sc. After selling between
56l4c and 571ad5sc, the close was at $3.50.
July closed shade lower at 5514d3sc.
Local receipts, 1S2 cars.
The feature in oats was the compare
tive strength of the market in the face
Of the weakness in wheat May opened
&c TO Sc lower. at $3.50. ranged between
45c and ssda4c. and closed at 45lsc July
closed &c lower at H7sc. Local receipts
129 cars.
Interest in trading in provisions cen
tered in pork Prices held steadily the
greater part of the day but late in the
session liberal liquidation of May pork
caused some weakness. Local packers
We're among the principal buyers The
selling was largely By small holders AZ
ter ranging between S1605 and sl6.37l2.
May pork closed at loss of 171zc at
S16.l21z. May lard was off 7l2c at $751;
and ribs were down sc at s7.97l2
Estimated receipts for Monday:
Wheat $5 cars. corn, 325 cars; oats, 2i0
cars; hogs, 10000 head
CASH QUOTATIONS..
F'lOur-Steady; winter patients, S.lGlt
o--N, SlldAS4AS. Sf-opH'NV' SPINS Bfi''Vii'Sr
81. S065.2o; straights, S4.40d47o; bakers
IS. 5efI40 90.
Wheat-No spring. 97GS1.04; No. 3,
90cdS1.G2; No. > red. 81 o0l9GlO7A
Corn-No. >. 53c: No. , yellow, -
Oats-No. > 429sQ43sc; No. white.
43a45l2.
BarIey-Good feeding. 41Gi3 fair to
choice mailing. 4Sd5Sc
Flax Seed-No l. SLIP; No. ! northwest
ern. Sis.
Provisiors-Ness pork. per Dbl. sl6.009
l6.12l.. lard. per 100 lbs. S7..5a7>0; short ,
ribs sides Ooose) S7.75d7S7la: short clear
sides (boxedn S7S7IHISG0