The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-02-04
CASH WHEAT A DOLLAR
Two Car L o a d S Changed
Hands at That Figure.
RESULT OF MAY DEALS
That Option Reaches the Top
Price for the Season

Chicago, Feb. 3.-Cash No. red wheat
sold on the board of trade today at $1.0O
a bushel two car loads changing hands at
that price. The wheat was bought by
millers. Wheat has not sold 50 high N
this market, either for spot or future de-
livery, since June, 1888. in which month
the Letter deal eliminated. The high
prices being paid at Chicago are the direct
result Of the big deal in May wheat being
engineered by Armour May wheat sold
today at the top price for the season, at
94lsc, a gain OF 2ss@21ac over yesterdays
close. The advance was accompanied BY
active covering OF shorts and much spec
ulative excitement. Prices for corn, oats
and provisions We're also doing some lofty
climbing. May corn was up 31sc to 55c;
May oats sold to 4614c, a gain OF 114a1ssc,
ana May pork 70 1910, gain of % cents.
The display OF bullishness was said to be
largely the result of buying by speculat-
OTIS who have made big profits in cotton
ard have now transferred their dealings
to the grain and provision markets. Wheat
gathered fresh impetus during the night
from foreign news indicating that war
between Russia and Japan now seemed
ed in the pit at the start and prices were
on a higher plane. May was 14@Ssc to
safe higher at 92d92lsc, while July was
up &c TO sc at S3l2GS3%4c There was
good general demand for both deliveries
and commission houses were unusually
active on the bidding side Shorts We're
also liberal buyers and it was claimed
that ahlf a million bushels were taken by
the long interests. Offerings We're COM
paratively light and with such an urgent
demand the price of May rose rapidly to
sc. At that figure a lot OF long wheat
came out, mainly from scalpers, and be-
fore the end OF the first hour May had
reacted to $3.50. only d very small de-
mand, however, was necessary to again
start prices on their upward march. At
the end Of the first hour May had recover
ed all the early loss and had advanced
still further to 931sc. Shorts continued
to buy freely and purchases by commits
sion houses were feature. Step by step
the price forged ahead. Late in the day
May showed a gain OF 2ssq212c over yes
terdays final figures and sold at 9i5sc, a
high record mark for the crop. July also
maintained its winning gait and advanc-
ed to 93d93lsc, a gain Of 11sd12<c over last
night There was considerable profit TAX
ing during the last half flour. and in
consequence the market suffered some re-
action. The close. however, was strong
at 1875 1880, a net gain for the day of
an even cents. July closed at 64$sc, an
advance of 1%sc. Clearances of wheat
and -four were equal TO 1000 bushels.
Primary receipts were 555.200 bushels.
compared with 500 bushels a year ago.
Minneapolis. Duluth and Chicago report
ed receipts of 226 cars. against ODD cars
last week and 236 cars a year ago.
The corn pit was the scene of a repeti-
ton of yesterdays enormous trading.
The volume of business, in fact, was so
large that the market was extremely
hard to follow. one of the most striking
features was the heavy buying of May
corn by the prominent operator who is
said to be practically in control of the
May wheat. The increased speculative
demand was another noticeable feature.
Wall street traders were said to be in
vesting heavily in corn. At times the
market took precedence over wheat and
larger gains were made in this pit than in
either of the Their cereals. May corn at
one time showing an advance of Csc over
last nights close. The opening was
strong Influenced to some extent by high
er cables. May being up Lake at 52loH
52asc Some of the large bull houses sold
moderately early in the day, but the
We're eagerly taken by shorts
and prices held firm. Toward the latter
sold early turned active buyers, and the
demand was so persistent that prices rose
rapidly. Within the last few moments of
trading May sold at 55c. gain of 3isc
over last nights close. Final figures
were at 547sd55c. Local receipts We're pa
cars. one Of contract grade.
The oats market lost some of its indie
pendent strength today. but the situation
still remained bullish in sympathy with
1fr.,~ ?. Il
to the principal holder but the commits
sion house trade was better than for
some time past. Small receipts and a good
demand We're minor factors in
supporting prices. May opened shade
lower To- Il shade higher at 447s0i 5c. The
early trade was moderate and without
conspicuous feature. shorts being the best
buyers and the demand being supplied
bv profit taking local longs. With she
sharp advances in wheat and corn trading
i'm OATS became more active and prices
rose steadily. May selling up to +6isc late
I'M the day. The close was strong with
May 1Gl1sc higher at 557sC Local receipts
were 81 cars.
Provision prices moved Up sharply on
big trade There was heavy liquidation
,v those houses who have been ON the .
BUN side OF late, but there was enough .
7ev buving To take all the offerings. Tt
was reported that eastern spectators .
who had made their fortunes in cotton .
were investing in provisions i'm view or
the critical situation in the orient The
advance was accelerated by heavy COW .
,rinsr by shorts. including some OF the .
packers. The opening WIS strong on .
higher hog market May pork being Up
r-c t. TIC AT I3.47lzH15 .52i4. The best
demand was for pork and that product .
ed the list in the advance After selling .
between 81. 57i2 and 1910 the close was -oc .
higher n Sl3.65 May lard sold between .
r 5 and IS and closed with gain OF .
Use at S7.5,i-fJ7-6 So RIBS closed AZ Sos.
~ S7f. after ranging between $3.50 and
Is .N7i1
Estimated receipts for tomorrow, Wheat .
% cars: corn. IS cars. cats. 50 cars; boss.