The Wichita daily eagle., 1904-05-07
OHIO CROP REPORT
That Was Chief Factor in Bull
ing Wheat.
CORN AND OATS LOWER
Provisions Are Also Sold at
Fractional Losses.

Chicago, May 6-The Ohio crop report
/ strong wheat market today At the close
| the price of July wheat showed gain
/ of 1sMic- Corn is down AG%sc. oats are
/ or 1s414c. and provisions 5I221.c.
| Wheat-The opening in wheat was firm,
| under the influence Of small receipts and
higher prices at Liverpool. July being up
! ts4%sc, at 9912Q9534c. Immediately after
! the opening there was a short period OF
hesitation in the minds OF many traders,
during which time the market assumed
an easier turn, July selling off to S5l4c.
The slightly bearish sentiment soon gave
way. however, TO a. preponderance of
bulllsh crop advices, the first one of which
was the Ohio crop report. Statistics in
regard to the condition of winter wheat
| in that state showed marked deteriora-
! ton, the figures being -, compared with
60 last month Shorts and commission
houses became active buyers and the
market soon developed decided strength.
. Some impetus was given the upward
trend by the strength of the northwest
ern markets. Notwithstanding the shut
/ down of the flour mills at Minneapolis.
\ general report on the condition of the
winter crop, issued by a well known Chit
cago authority. was decidedly bullish. Ac-
cording to this expert. a heavy falling
off in winter wheat conditions was man
ifested in all states east Of the NIissis-
sippi river and north of the Ohio. Some
state are said To show decline of 10
TO - points. The loss in the Ohio valley,
it was claimed. was the heaviest in many
years. a partial confirmation of these
figures was given in a report from st.
Louis by another crop statistiCian. Tn
der this superabundance of adverse news
the market continued TO gain in strength
until late in the session. During the last
half hour realizing sales checked the
advancing tendency and caused a slight
reaction in prices but the market closed
strong. After selling up to $3.50. July
closed at S6l4 ds63sc. Clearances of wheat
and -four We're equal 10 900 bushels.
Exports OF wheat and -four for the week.
according to Bradstreets. 5. were equal To
1,921, 600 bushels. Primary Receipts were
142. 900 bushels compared with 2S 900 bush
els year ago. Minneapolis. Duluth and
Chicago reported receipts of "A cars.
against 50 cars last week and lis cars
year ago.
Corn-During the early part of the ses-
sion shorts were active purchasers of
corn, and in consequence the market ruled
strong. The market closed near the low
point July opened a shade to Ac higher.
at 4S3sc to Asa a4S7sc. sold between 4S1sa
4S4c and 1880 and closed at 4S14c. Local
receipts were 211 cars, with % of con-
tract grade.
Oats-In sympathy with other grains
oats were strong early in the day. After
opening 1sd14c higher. at 39lsc. July
ranged between 3S5sc and 391sc and closed
at 3s%4c. Local receipts Were 6S cars.
Provisions-Heavy selling by packers
and outside interests caused weakness in
provisions. The market was firm early, in
sympathy with higher prices for hogs
at the yards and on the strong grain mar
kets. but sentiment soon changed, the
market becoming weak on poor support.
At the close July pork was down 2212c,
at S11.671a July lard closed nc lower,
at Sc. .6215 Ribs were off 5d712c, at $6.45.
The leading futures ranged as follows: