The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-02-05
new HIGH RECORDS
All Cereals Advanced by More
Than a Cent.
CLOSED NEAR THE TOP
Critical State in Far East
Alleged by Bulls

Chicago, Feb. All cereals made new
high record marks today. Active buying
on the apparent certainty of war was
the cause. Wheat for May delivery at
one time sold at 95lkc gain of 1ssa17sc
over yesterdays close. May corn went up
12s@ll4c touching 562sc. while May oats
advanced an even cent. to 1870. Closing
quotations today were well in sight of
the top. eProvisions also were effected
by the war scare, and closed strong.
Owing to the critical state Of affairs
in the far east. wheat traders were keyed
up 10 a high pitch at The opening. Shorts
were so energetic in their efforts to get
under cover and the pit was so bare OF
offerings that before the initial demand
was satisfied the price of May was bid
up 13Q4sc to 112q15sc above last nights
close, sales being made at 9f4495i4c.
July was up A41c, at S5qS52lc When
May reached 9512c which is a new high
record mark for the crop, active profit
taking set in. Large quantities Of wheat
were put out by commission houses and
there was considerable short selling
There was also some selling in July,
which was credited to the leading long
operator. The big bull trader, however.
did not open business at any time dur
ing the day. As the session advanced
the market became quieter. Prices grad
ually eased off under the load of liquida-
ton until at one time July sold under
yesterdays figure. or at S42sc. decline
~ fl-0,oa ha ton, -nfI
94c, with little demand at The decline
The market remained quiet and compar-
atively steady until near the close. when
another sharp rally occurred. On re-
newed rumors Of warlike moves, commits
sion houses became active buyers, and
shorts again started on a wild rush TO
cover. The last few minutes of trading
were almost as tumultuous as were the
opening ones, and the volume of business
was exceedingly heavy. Prices at the
close had practically attained the early
high attitude, final figures on May being
at 95Ssd9512c, a net gain for the day OF
Use. July closed sale higher. at S53s
GS54c. Clearances of wheat and -four
were equal TO 2S060O bushels. Primary
receipts were 50i, 800 bushels. against an
incomplete figure of 1891 25 bushels a year
ago. Minneapolis, Duluth and Chicago
reported receipts of 257 cars.
The opening in corn was full of excite
ment as was the early trading in wheat
At first it was ali rush TO buy May was
up 12G5Sc to l14@12sc. at 55l3Q56I4c With /
in the first few minutes of trading May |
sold at $3.50, but at that price the mar
ket ran into heavy offerings from hold
ers. Under heavy realizing sales prices /
worked their way down until I
May had declined to SOC Shortly before /
the close a renewed demand sprang up. /
which carried prices well toward the /
top. final figures on May being at sec. a .
gain for the day of 1G1kc Local re-
ceipts We're 240 cars. none of contract /
grade
oats had the same wild experience as /
the other markets at the opening. prices (
going up sharply on general commission
house buying and active covering by
shorts. May opened 1402sc higher. at 46ls
04614c. and within fifteen minutes had adj
vanced to 1850 The decided rise brought
out heavy liquidation. May went back
TO 4515c. Another rally occurred near the
end of the session and May closed &c
higher, at 46l4c. Local receipts We're II
cars
Trading in provisions opened with 3,
big movement similar to the conditions
witnessed in the grain pits Commission
houses seemed to have plenty of orders
to I'LL on that side OF the market at
irsC Offerings were very light at the
start. which resulted in a considerable
advance in prices. Later there was heavy
selling of May lard by a prominent long
With the break in grains the selling be
came general and most OF the early gain
was lost. The market rallied later with
wheat and corn. and the close was strong.
Final figures on May pork were up ne
At $l3.721@. after The price had ranged be
ween S13sIl9 and $l3.S5. May lard sold
between $3.50 and $.75 and closed at
7.621a Ribs. after ranging between $3.50
md $3.50. closed at s6.S2E
Estimated receipts for tomorrow:
Wheat - cars; corn. 175 cars: oats. 90
ars: hogs. 1880 head.
The leading futures ranged as follows:
Close