The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-01-06
WHEAT WAS CHEAPER
English consoIs Were Higher
indicating Peace
NO SUPPORTING FEATURES
Provisions Made a Sensational
Decline in Price.

| Chicago. Jan. 5.-Wheat opened with an
| to SELL English consols We're higher and
! the general tone of foreign dispatches
referring to possibility of war was de-
| cidedly more pacific. Receipts were also
more liberal and the weather map gave
promise of excellent conditions for the
movement. At the start May was I'M
changed to &c lower. at Ss1.dsSa.c, and
with no supporting features the market
continued to decline. The weakness at
| Minneapolis added to the depression here
and before the declining tendency had
| been checked May had sold of TO s5zsc.
loss of 1c from the high point. At the
decline there was liberal support from
commission houses and the leading long
also supported the market with large
purchases. AS a result the market rail-
lied and part of the loss was recovered.
The late strength in coarse grains was
help during the last hour and steady
tone prevailed at the close with May at
SSGS61sc. Clearances Of wheat and nour
Were equal to 1893, 800 bushels Primary
receipts were 1,O94S00 bushels against
$4,000 bushels a year ago. Worlds vis-
bic supply. according to Bradstreet's
showed an increase of 81 200 bushels as
against a large decrease last year. Min
neapoiis. Duluth and Chicago reported
receipts of 5d9 cars, against sos cars last
week and 434 cars a year ago.
The corn market was inclined to drag
early in the session and was weak large
ly in sympathy with wheat. The local
crowd was against the market and sold
freely. During the latter part Of the
day considerable covering developed and
there was also active buying by the same
interest that supported the wheat mar
ket. Increased offerings from Illinois and
Nebraska We're largely responsible for
the bearish attitude of the local traders,
although the more hopeful tone of war
news exerted some influence. The close
was fairly firm. with May only kas.c
lower, at 4S11c, after opening shade
higher to hdkc lower, at 4sssa4s7sc, and
selling between 4sG467sc. Local receipts
were 4o2 cars, with three of contract
grade
Oats were the firmest of grains. There
was a little decline early along with other
grains, but the market steadied later |
and during the latter yart of the session |
good gains were made on active cover
ing by shorts and on buying by some of |
the local bulls. A good cash demand |
helped in the advance The close was |
firm and near the top. After the opening. |
to a shade higher, at 3si1G |
8asc, May ranged between 3sd3S1.c and /
3sAc, closing at 3sQS9ssc. Local receipts /
were ISL cars.
A decline of 1oc in the price of hogs
and liberal receipts at western points
caused considerable selling of provisions
early in the day by commission houses
and local bears. AS a result May pork
declined Coo, lard 25c and ribs 2311c On
the break packers supported the market
and some recovery was made. although
he close was weak, with May pork off
NC. at 1910; May lard was down 2215c,
1t $685., and ribs off 150171kc, at $685..
Estimated receipts for tomorrow:
Wheat. $50 cars; corn, go cars; oats, 45
,ars; hogs, 5000 head.
The leading futures ranged as follows: