The Wichita daily eagle., 1904-04-10
BEARS RULE THE PITS
Warmer Weather in Wheat
States Had Effect.
INFLUENCE WAS POTENT
Corn, Oats and Provisions
Closed Lower.

Chicago. April s.-warmer temperature
officially predicted for Kansas and Ne
/ braska was the most potent influence in
the wheat market The effect was a net
loss OF 154c. In the July delivery Corn
shows q decline OF sc; oats &c. and pro-
visions 20a3oc.
liigner prices at Liverpool impaired
! firnness to wheat here at the opening.
| Freezing weather in Kansas also brought
out some buying orders. Initial quota
tions on July were a shade to i4Q7sc
! higher at G7sQSS1sc. Sentiment in the
pit, however, soon turned bearish, the
prevailing opinion being that the rain
and snow which were delaying farm op-
erations in the northwest We're of suffi-
Gent benefit TO winter wheat to more
than Offset any probable decrease in
acreage of spring wheat. At the same
time the weather bureau forecasted
warmer weather for Kansas and Nebras-
ka- This caused additional selling. and
in the absence of any material support
the market became weak. The volume
OF business was comparatively light the
market being inclined to develop into a
waiting affair pending the issuance Of
the government crop report due Monday.
lntimations that the figures would show
more favorable condition of the crop
than generally anticipated increased the
bcarish tendency. Prices steadily de-
clined throughout the day, the close be
ing practically at the low point After
touching S6l2c July closed at S61kd5sc. May
ranged between 941lG95l9c and closed at
941zc. Clearances of wheat and -four
were equal to 5000 bushels. Primary re.
bushels year ago. Minneapolis Duluth
and Chicago reported receipts of 123 cars.
compared with 40 cars last week and
442 cars a year ago u
Infuanced by steady cables. by firm
ness in wheat and by unfavorable wealth
er the corn market was firm with a
short time early in the day. The
weather forecast. however was for clear
skies. The prospects of an increased
movement and improved conditions for
seeding, soon weakened the market Lit
tie support from the big bull trader was
i'll evidence. the buying being mainly by
shorts. Selling was largely in the way
of profit taking. few traders being dis
posed to sell short in view OF the att
tude Of the leading long The market
closed weak and near the bottom July
opened 1sGAc higher at 542.d517sc sold
between. 51Q517sc and closed at 81 1:41ic.
May closed at 5314c. after ranging be-
tween 52G53c Local receipts We're 15S
cars with 26 of contract grade.
Oats ruled weak, in sympathy with
other grains. The market was firm at
the start due to wet weather but SEN
timents soon changed, and on profit TAX
ing weak tone developed The close
Was al the low point of the day. After
opening 14Q12c higher at 3S2s03sa4c. July
sold between 37s4 4G34a.c and closed 37s4c.
Local receipts were 14S cars.
The trend in provisions resembled the
action of grain markets. Opening prices
were a trifie higher on fair demand,
but offerings were more liberal than the
demand, and the market soon began to
decline. The close was weak with July
pork 30c lower at S12.e5. July lard was
off 2Oc at s6.72Ia and ribs 2213d25c at
Sc. .6O66 62lk
The leading futures ranged as follows: