The Wichita daily eagle., 1904-05-10
WHEAT WAS STRONG
Government Report Today Ex-
pected to Be BuI|ish.
CORN MADE SMALL GAIN
Oats Were Weaker While Pro-
visions Gained.

Chisago, May 9.-Anticipations of
bullish government crop report were an
influential factor in causing strength in
1 wheat today. The market closed well
! toward the top prices of the day, July
option being up &c. Corn shows gain
of ssc- Oats are off a fraction. Provis-
ions gained 21z to l0c.
Wheat-With easier cables, heavy world
! shipments and a large increase in the
amount on passage, the wheat market
| opened at d decline from Saturdays
| closing figures, the July option being
down A@$sc to &c, at S55sGS534 to S52sc.
| During the early part of the session the
market was dominated by the beariSh
foreign situation, the attention of pit
| traders being diverted temporarily from
the bullish condition In America. There
was considerable long wheat offered for
sale but the demand was comparatively
light In consequence of the poor sup
port a further decline in prices was
made. July selling off to S53sc. As the
session advanced the domestic situation
forced itself more prominently upon the
minds of traders and damage reports
We're still being received. sentiment sud
DEFY changed. A report of a local crop
expert also had a strong strengthening
influence. According to this authority
large acreage of wheat had been plowed
up in Oklahoma and the Ohio valley.
Prospects of a bulish government report
tomorrow started liberal covering by the
shorts which resulted in qaick rally.
fair cash demand and the fact that
about half the -four mills in Minneapolis
had resumed operations were an addition
al stimuiant to the improved demand.
The market continued strong the re-
mainder of the day. closing prices being
near the top After selling at S6*d86ssc,
July closed at S61sc. Clearances of wheat
and -four were equal to las, 900 bushels.
The amount on passage increased 200
bushels while the visible supply showed
a decrease of 6s4. 900 bushels. Primary
receipts were 19s.soo bushels, compared
with 40SS00 bushels a year ago. Mime
apoIis. Duluth and Chicago reported re-
ceipts of 15S cars against 162 cars last
week and $50 cars a year ago.
Corn-During the early part of the day
the corn market sympathized with the
weakness in wheat. Later the local crowd
became quite active buyers, resulting in
firm tone. Small receipts and rainy
weather had strengthening influence.
July opened Is to 14c lower, at 4s; to 4sAc,
sold up to $3.50 and closed at SAC. Local
receipts were 157 cars with Is Of con-
tract grade.
Oats-The same influence that affected
the corn market was noticeable in trad
ing in oats Closing prices showed little
change from Saturdays final quotations.
After opening shade to isGhc lower It
1895 to 3S1sc, July sold between 3S1403Sssc
and 3s3.c. closing at 3S12c. Local receipts
were 50 cars.
Observation-Disclosures had firm un
dertone throughout the entire day. The
feature of trading the buying of
pork by shorts. The principal bull in
fuence was a smaller run Of hogs than
expected. The late strength in wheat
and corn had some effect. July pork
closed 10c higher at s1l.671A; Lard was up
2l4c. at Sc 62i2, and ribs 5q71ac, at s6.47'
a6.5o.