The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-02-03
CORN PIT EXCITED
Coarse Grain Attracted Much
Attention Yesterday.
MADE SUBSTANTIAL GAINS
Wheat Closed Higher lnfiu-
enced by Other Deals

Chicago. Feb. Grading on a NAM
moth scale was witnessed today in corn
and oats Manipulation by private OPP
orators caused a marked advance in both
/ cereals. May corn showed final ad-
vance OF 1lsc, while oats We're up 1z95sc
/ Wheat prices We're affected largely by the
I strength in coarse grains, May wheat
/ closing gale higher. Provisions also
We're strong, the May products closing
/ 17lz045c higher
The remarkable raise in corn was
started at the very opening. The kyenote
was started atsthe opening on orders TO
/ buy May corn. The advance resulting in
/ prices for corn was certainly not lacking
. in CELEBRITY. 1t was estimated that during
+ the buying upward Of 100000 bushels
Of May corn was taken by one house
/ popularity credited with being the largest
( holders of wheat for May delivery. May
/ onaned 1s0l4c higher, at 507sa51c, and af-
: ter selling at Jo@4a5O7sc, the price stead
/ lily advanced The active demand con-
/ tinued during the entire session and the
( close found May 11sc higher at 511sc.
/ Local receipts were Cos cars, none of con-
tract grade.
May delivery of oats. the price today
reaching "a a $3.50. Trading continued on
a large scale the entire session. The
close was strong, with May l2a5sc higher,
at 4l7sd45c Local receipts were DDS cars.
Trading in wheat was moderate in vol
ume. a decidedly strong tone was man
ifested Early factors IN starting the adj
vance were strong English markets re-
ports OF damage by unfavOrable weather
in the southwest and the apparent con-
gestion in the market for coarse grain.
May wheat opened unchanged to sc
higher. at 9Oasd9ilsc. on an active de-
mand from shorts the price quickly rose
to g15sc The advancing tendency. how
ever. was soon checked on selling by
/ commission houses who Were supposed TO
be acting under instructions from the
leading long. The market gradually re-
ceded under this selling pressure until
the end Of the session. when May was
again quoted 1Ac down. The market
dragged for a time. owing TO the alb
sence Of many traders who had found
more alluring attractions in corn and
oats. A large decrease in the world
available stocks brought out an active
commission house demand later in the
day and prices again started upward,
aided by the strength in other grains.
on this squirt May advanced to 92c. but
realizing sales caused a slight reaction.
The close was strong however and near
the best prices.May being 7sG1c higher,
at 9I9sG9ls.c July sold between $3.50
and S32sc, closing at the top. with a gain
Of 5a05sc. CIearances of wheat and -four
were equal to 123, 500 bushels. Primary re-
ceipts were 644.300 bushels, against 5000
bushels a year ago. Minneapolis, Duluth
and Chicago reported receipts of So ears,
against 215 cars last week and 315 cars a
year ago.
Provisions ruled strong on active cover
ing by shorts. together wit hheavy buy
ing for investment account. The opening
was strong, Influenced by higher prices
for hogs at the yards. and on the advance
in the price of coarse grains the provi-
sion list became still stronger. The sell
ing was chiefly by local longs May pork
showed the greatest gain, and closed at
an advance of 45c at $685.. after ranging
between $l3.l5 and $3.50. May lard was
up 20c. at $50; and ribs ~ a2oc higher,
At S6.75.
Estimated receipts for tomorrow:
Wheat. 81 cars; corn, 215 cars; oats, 100
cars; hogs. ECO head.
The leading futures ranged as follows:
CIOsa