The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-04-27
WHEAT WAS HIGHER
Were Decreased Visible Sup
ply and Big Demand.
CORN AND OATS ADVANCE
Provisions Felt the Effect and
Sell for More.

Chicago, April ga largely decreased
visible supply. coupled with a decidedly
increased export demand. caused strong
finish in the wheat pit today. The July
delivery is up 11sc. Corn made net gain
of sc, oats ssd24c. and provisions 712Q1Oc.
In the face of lower cables. there was
an active general demand for wheat at
the opening today. Initial quotations on
July delivery were sc lower to &c higher,
at S2Gs2ac The action of a big trader
whose operations are closely watched by
the pit crowd had consdera BILE to do with
the days developments. During the first
hour there was good buying credited to
him. quick advance followed in prices,
the July option making a gain of about
3zc. The market then declined as rap
idly as it had risen. The cause of the
break was a wild scramble on the part
of early buyers TO secure profits, the
impression becoming general that the bull
leaders had turned seller. The market
received little support on the way down.
On the decline the price of July dropped
TO Size A resumption of purchases by
the principal holder induced active COW
ering by shorts, and prices again started
upward During the last hour of trading
the market was extremely bullish, the
news in general being decidedly favorable
to buyers. One of the factors in the late
situation was the showing in the worlds
available stocks of wheat as given out
by Bradstreet's. The statistics claimed
net increase of $4,000 bushels. but the
increase was entirely by European addi-
tions. a decrease Of two millions being
shown in the visible supply of wheat for
America east of the Rocky mountains.
Strong cash markets, and especially in
the northwest. were addition bull fac
tors. There was also a number of crop
damage reports. The market closed at
the highest point of the day. final fig
ures on July being at S214c. after the
price had touched S3AQS3asc May sold
between s5,sc and sS15c and closed at s63sc.
Clearances of wheat and flour were equal
to $500 bushels. Primary receipts were
2o4, 800 bushels. compared with 2S9. 500 bush
els year ago Minneapolis. Duluth and
Chicago reported receipts of 1o2 cars.
against 161 cars last week and 172 cars
year ago
Notwithstanding rather unsettled feel
ing in the corn pit. sentiment on the whole
was bullsh. July opened a shade lower
to shade higher. at 47l464SSsc. sold be-
tween 1910 and Sic and closed at 4s1s
a 4sAc. Nav closed at 46a.c Local re-
ceipts were 3OS cars. with Y of contract
grade
4 bullish sentiment pervaded the oats |
pit, the market being independently /
strong. The market closed strong. with 1
prices near the top. July opened 14d2sc I
higher. at 36636kc. ranged between 355sc |
and 36ssc and closed at 3sas G361ae-t Local
receipts were IS cars.
Heavy buying in provisions by brokers /
caused firmness at the opening. There (
was some liquidation Of May products /
througho commission houses, but offer |
ings were not excessive until the weak 1
ness in grains caused quite general real !
izing Prices eased off in sympathy with /
the decline in grains. but soon rallied |
again. The close was firm. with July |
pork up 7isGlOc. at sl23oc July lard and |
ribs were each up nc at s6s712 and
Sc. IS respectively
The leading futures ranged as follows: