The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-02-16
MAY WHEAT SO CENTS
New Record for the May De-
livery Is Made.
CORN ALSO Is HIGHER
Oats Unchanged While Pro
visions Advanced

Chicago. Feb. ia new high record
price was reached today by wheat for
May delivery, CSC d busheI. With the war
advancing foreign grain markets. the Wis
ible supply diminishing and with crop
prospects in the southwest threatened by
the cold weather short selling of the May
option was practically abandoned. July
absorbing most Of the new business Clos
ing prices were near the top with May
1ssc above Saturdays final figures. July
closed lSsG1%.c up. May corn was 12scQ
11zc higher, oats unchanged and provi-
sions 10 to 27l1c higher. The wheat mar
ket was bullsh from start to finish
Higher prices at Liverpool and Antwerp,
together with cold weather in the south
west where the ground lacks sufficient
snow covering. caused an opening advance
in May of IsGSsc initial sales being made
at 614d9644c. July was up lsq14c To "a
sc at 99Qs92sc. There was an unusually
good demand for the July and September
deliveries but owing to the congeSted
condition of May. much difficulty was ex-
perienced in executing orders that in that
option on either side. Offerings were re-
markedly light and on that account little
difficulty was encountered in forcing
prices upward Commission houses were
active bidders for July and short COW
cred both May and July Before the
end of the first half hour May advanced
to 977sc, and July To S93sc- The leading
long had wheat for sale on the advance
as also did the small holders.
Under this selling the market had
slight set back. May declining to $3.50 and
July 10 S9l4c. The demand. however. was
of the best possible character on the re-
action. a report that the visible supply
was greatly increased helped to create
added strength and the disposition to buy
on the domestic situation was more pro-
nounced The strength of cash wheat in
all markets was again d dominating in
fluence in the speculative trading. The
market was extremely bullish during the
last hour Under active covering by
shorts the price of May touched a new
high record mark at 9sc, while the July
option sold up TO 90ssc
4The market reacted slightly on profit
taking, but the close at S7a.c, and July
at 9j1zC Clearances of wheat and -four
were equal TO 2s4,6O0. Primary receipts
were $4,000 bushels, compared with 7o,
600 bushels "A year ago. TIE amount on
passage increased PIE. 600 bushels. while
the visible supply decreased 5000.
Minneapolis. Duluth and Chicago re-
ported receipts of so cars against 497
cars last week and 473 cars year ago
active general trade Like wheat it was
helped by the foreign situation. May
opened 1.@1ac higher "a 5s5a551.c. sold up
TO 565sc, but reacted on profit taking, the
close being at 5slsdAc July showed A
final gain of 14assc. closing a. 532s a nc.
Local receipts were 65s cars. two OF con-
tract grade
Oats felt the effects of war and the in
tention Of increased trade. sharing the
bullish proclivities OF wheat and corn
during theg reater part of the session.
Final figures in May were precisely where
they left off Saturday. The opening was
1saasc higher. at 44I.G441zc, and after sell
ing up TO 45c. closed a 44;c. July closed
c higher at S924c. Local receipts were
400 cars
The provision market was comparatively
active and strong as the grain markets.
In the face of liberal receipts Of hogs and
lower prices at the yards an urgent in
vestment demand was manifested the en-
tire day which resulted in marked gains.
Packers and local longs were the prin-
cipal sellers The close was strong with
prices near 10 the tor. May pork was
up 27l5c at $500, after ranging between
s14 SOdl5.05. May lard closed Ice higher.
at $40. whine ribs were 10G12i2c higher
at S717i2d7 y.
Estimated receipts for tomorrow:
Wheat. % cars; corn. $50 cars; oats 2s5
cars. hogs s. 600 head