The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-02-12
To REALIZE PROFITS
Holders of Wheat Broke the
Market by Selling.
LOSS RECLAIMED IN PAR 7
Coarse Grains and Provisions
Held Their Own.

Chicago, Feb. 11.-Proft taking caused
break of 15sc in the price of May wheat
today. A large part of the loss was re-
gained, however, on buying Influenced by
war rumors Compared with last night 5
quotations the final figures today for
May wheat were sc lower. Coarse
grains were firm, May corn closed sc
higher and oats sc higher. Provisions
were PIC lower to z1zc higher.
Initial sales of May wheat were made at
96d9615c, prices a shade higher to %sG12c
lower than yesterdays closing quota
lions. July was unchanged TO &c lower
at S71saS74c Several large commission
houses and local holders were liberal sell
ers at the start inuenced by the fact that
there would be no session of the board
tomorrow, Lincoln's birthday Serious
developments before the resumption OF
trade Saturday caused much evening up
of sales. Within the first hour May de-
clined to 947sc, while July sold off to So%4c.
Buyinc on the break, however, was of
equally as good a character as the pre-
vious selling. Commission houses had
plenty of orders to purchase July and the
price of that option soon started upward
again. May followed in sympathy. News
from the northwest continued of bulhsh
nature and the demand for wheat here
and at the sea board was much improved.
Toward the end of the session there was
considerab bic selling Of both May and
July by the leading bull operator. AS
result many local traders took the selling
side Of the market. An easier tone de-
veloped. lasting until the close, May leav-
ing off at 952.Q957sc. July closed unchang-
ed at STAG, after reaching &9sc. Clear
ances of wheat and flour were equal TO
$50, 300 bushels. Primary receipts were
$4,000 bushels. Exports Of wheat and
flour for the week, according to Brad
streets were equal to 1.746.0N bushels.
Minneapolis. Duluth and Chicago reported
receipts of 2fl cars.
Weakness was in evidence j nthe corn
pit early. There was heavy selling by the
large bull interests. Later in the day
there was liquidation by holders who DID
not care to carry lines over the holiday
and this selling caused some reaction, the
close, however, was firm. May opened a
shade to 4@5sc lower at 531aGo34c, SOLO
off TO 527sc and after advancing to 54Ac
closed at 537sQ54c. July showed gain OF
1403sc closing at 522sQ521ac. Receipts
were 23S cars.
The oat market was Influenced to
large extent by the action Of corn, prices
showing moderate losses during the first
hour The close was strong with May
&c higher at 45c after it had ranged be-
tween 411ac and 42izc. July was up CSC al
39Hc Receipts were Ill cars.
The features of trading in provisions
was the early break in May pork, that
product losing 30c in general liquidation
The decline was all regained later on an
active demand. Packers were credited
with selling ribs but the offerings were all
absorbed on buying for investment ac-
count The close wa ssteady with May
,,orLy TIC HIGHER at sl4 S2lb The range on
nork was between s14. 421R and s14.S5 May
lard closed PIC higher at s7.7212, but rribs
were off 21zG5c at 81 .121a
Estimated receipts for tomorrow: Wheat
% cars: corn, 900 cars; oats, 155 cars; hogs
rs nO0 head