The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-02-09
WAR HAS NO EFFECT
Heavy Selling of Wheat in
Spite of Hostilities.
CORN AND OATS WEAK
Desire to Buy Met by Stub
born Selling Force.

Chicago, Feb. S.-Heavy liquidation de
moralized the grain markets today not
withstanding the severance of diplomatic
relations between Russia and Japan.
Corn and oats were especially weak,
May corn declining Sc and May oats SAC
from the high POINTS. Wheat recovered
partially from the break closing at
about Saturdays figures, but May corn
showed a loss of 17sc and oats 2Ad22sc.
Provisions were firm, the May products
closing l0c higher
With war iii the far east virtually
commenced, and all foreign grain mar
kets responding, there was a dash to
buy here at the opening, but it met with
a stubborn short seller. May opened l2c
To &c higher at 9f13Q95c and July was up
| 5s07sc, at S512dS524c. In very short
time, however, the short sellers who had
turned buyers had cause for regret. Both
May and July wheat was offered in
large quantities 1t was claimed that a
line of several million bushels by large
local trader was sold out. Throwing out
of this wheat induced general hquida-
ton and the market became extremely
weak. May going down $3.50, a drop of
15sc from the top while July sold off to
S33sc. or 29sc from the top. The May
delivery. however, received good support
from the principal long interest and the
price of that option soon regained a
cent of the early decline while July raj
lied in sympathy. The market was
helped by dispatch stating that all Of
ferings of wheat from Odessa had
stopped \ late break in corn and oats
had a depressing influence on wheat
prices but additional support from the
interior with buying the largest holder
of wheat caused a stronger tone at the
close May was unchanged at 9fc but
July was down &c, at S45sc. Clearances
Of wheat and -four were equal to 40
go bushels. Primary receipts We're 75o.-
coo bushels at c11, 900 bushels a year aSo.
The amount on passage increased 3.472,O10
bushels while the visible supply de-
creased $4,000 bushels. MINNEAPOLIS.
Duluth and Chicago reports receipts cf
500 cars compared with 463 cars last
week and 236 year ago.
The feature in trading in corn was the
heavy and persistent selling by prom
inent house. The opening was firm along
with wheat, May being unchanged to &c
higher at 94q56c. but within the first
half hour the price had fallen to 537sc
The bottom was reached at sc. a drop
Of Sc from the opening point. The close
was at 527sc July closed 2Q2isc lower
at 5e7sc. after selling between 5e7sG50isc.
Receipts 81 cars.
There was tie same experience in oats
as in corn trading and almost equal
weakness. The opening was firm on war
news, May being Is to 'd5sc higher at
44%G9sc to 4494c. Heavy selling 10y q
prominent commission house started
small holders to sell and prices started
downward. The low point was reached
at 4lI2c or SIC below the high future.
There WIS some recovery late in the day
on covering hut the clost was 2i4Qs@sc
lower at 4l7sc. Receipts 80 cars.
The provision maTAet showed strength
in spite Of tho wea kre-s in grains. There
was good cdvanee early on active de-
mand for pork ami lard. but latter part
Of the gain was lost on profit taking
caused by the break in corn prices. An
advance Of Ice in the price Of hogs was
bun factor the start. as was the war
situation The buyers was by commits
sion houses and foreigners.
After ranging between 1850 and l.59o.
May pork closed Ice higher at lolS-67';
May lard closed unchanged AZ 7.25@ after
selling between 7.25Izei7.s7" Ribs were
up 2l4c at IS s2Ia after ranging between
ST. SoQ6so
Estimated receipts for tomorrow:
wheat = cars; corn. f2e cars; oats. SO
cars: hoes. S2cc) head
CASH Quotations.
Cash quotations were as follows:
Flour-Stea9y.
wheat-No. spring, saa9ic; No red.
oats-No. :. ss7sae7sc; go. ; white 81.
G4Hzc.
Reno =. eec-
BarIey-Good feeding. Sc; fair 70 choice
mating. 47c.
FLAX seed-No. l. $40; No north
western. Sifsiz
Timothy SSed-Prime. SIS.
T'rovisious-Mess pork, per Dbl. $500
3 81: lard. per go lbs. S.25Gf737 short
rms sides (ioosel s. 5aas-75: short clear
sides Cboxen Ss.7SGSS1l--
XVhiskey- Basis Of high wines ~
f-fo,-sr-C.c1tract grade So 75sfIIl.ad