The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-01-29
WHEAT is STRONGER
Severe Weather Had BuIIish
Effect on Prices.
CORN FIRM; OATS STEADY
Provisions Were Unchanged
to Five Lower.

Chicago, Jan. 2S.-Severe cold weather
| throughout the west and southwest, with
rain in Argentina, strengthened wheat
/ prices today. A gain in the price of cash
| wheat in the northwest also contributed
to the advance The close was firm, May
being up4G3sc. May corn closed Aassc
higher, but oats were precisely where
they left off yesterday. Provisions were
unchanged to sc lower.
Early news in the wheat pit was of a
bearish nature. Cables were lower the
price Of consols steady and crop news
generally was of an encouTagin character
The pit crowd was inclined to favor the
! bear side of the market and sold quite
freely at the start. May opened 1sQI.c
lower to a shade higher at sS54 G891sc. but
soon sold off to sec The leading bull OPP
orator then came to the support of the
market and on buying by this interest.
May quickly advanced to S9%c There
was renewed selling by locals .on the
Gp-turn and, with let-up in the demand.
the price generally declined to sec. The
sentiment improved later in the day on
the strength of the cash article at Mime
oPoiiS anu Oil Oh ram III Ar
gentina. prominent commission house
had a private dispatch from London
which stated that the war cloud was
again assuming alarming proportions 4
decline in the price of New York stocks
caused some traders to give credence to
this report and buying orders were more
In evidence during the last part of the
session. From S9c May slowly moved up
ward until it reached 90l4c Realizing
sales late in the day caused a decline
Of &c, but the close was firm, at S97xc.
a gam of I4@ssc over yesterdays final
figures. The speculative demand for the
July option showed some increase At
ter ranging between size ana S21kc, that
month closed 1aQ3sc higher. at S29sc
Fears of damage to the growing crop
by the extreme cold weather was factor
in influencing prices of that delivery.
Clearances of wheat and flour were equal
to 1888 bushels. Primary receipts We're
$500 bushels against 567. 300 bushels a
year ago. Minneapolis, Dulut hand Chi
cago reported receipts of 304 cars against
356 cars last week and Al cars year ago.
The corn market was influenced mainly
by the action of wheat. The close in
speculative trading was firm, with May
at 1850. The opening was shade lower
to a shade higher, a 49IaGi95kc and
prices range dbetween 1850 and 1889 Lo-
cal receipts Were 1874 cars, 1 of contract
grade.
Oats followed other grains. huctuating
within narrow range and closing about
unchanged from yesterday. May opened
unchanged to &c lower. at 421421sc, sold
between 42GA7sc and43Ac. closing at
421sc. Local receipts We're 81 cars
Liquidation of lard by the leading bull
interests was in force in the provision
pit early in the day and the whole list
weakened in consequence Later. how
ever, the market recovered most of the
loss on a scattere commission house de-
mand. brought out to considerable ex-
tent by the firmness in grain prices. The
close was steady. with May pork un-
at sl$12i1; May lard was down
sc, at >a421s; ribs were off 212c, at 500
@67215
Estimated receipts for tomorrow:
Wheat. 80 cars; corn. 225 cars; oats, IS
cars; hogs. 5000 head
The leading futures ranged as follows: