The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-02-18
WAR COMPLICATIONS
Wheat Took Upward WhirI of
Two Cents a BuSheI.
CORN AND OATS GAIN
Provisions Are a Fraction
Above Previous Day.

Chicago, Feb. 17.-War complications in
Europe as well as in Asia whirled wheat
up &c a bushel today for May delivery
July jumped 2Ssc. Compared with last
nights prices. May wheat. at the close
showed gain of 1i4aI2sc. The net ad-
vance in July wheat is l2sc. May corn
is up CSC, oats %4Q7sc and provisions 100
Ike
Wheat at the opening was about steady
on the comparatively firm tone of cables
foreign markets, showing no response to
the decline here yesterday. Initial sales
of May were shade lower to a shade
higher, at 95d965sc. while July was shade
higher 10 1sa14c lower. at B14d7S1zc.
Selling by the principal long, followed by
profit taking by smaller holders. carried
May down TO Soc. July sold of TO $3.50.
Toward the noon hour traders were seized
by an acute attack Of war fever. A re-
port was circulated that an uprising had
occurred in the Balkans. From the mo-
ment this announcement was made until
the close of the session there was an
urgent demand for both May and July
wheat. There was a scramble among
shorts to cover. and the leading bull
houses bought freely The trade was Of
such large volume that individual trans
actions were allowed TO pass almost UNI
noticed The market turned suddenly
strong and sharp advances were made
in all deliveries Another factor that
helped TO strengthen the situation was
a correction in Bradstreet's worlds Wis
ihle supply figures. According to the
revised data the available stocks show
a decrease of $4,000 bushels instead of
an increase of 217,cO bushels. as an
nounced yesterday. The export business
was an additional bull factor. report
from Baltimore stated that foreigners
were taking all offerings in the shape of
wheat while New York also claimed a
big shipping demand. Under these con-
ultions. May rose rapidly TO CSC, and
July was forced up to Ssc. The close
was almost the top figure, with May at
977sc and July at SS24c. Clearances of
wheat and flour We're equal to 1850
bushels Primary receipts We're $1,000
bushels. Minneapolis, Duluth and Chi
cago reported receipts of 249 cars.
The corn market was a very nervous
affair There was heavy selling of May
early in the day by some of the principal
holders and with only a moderate de-
mand from shorts prices suffered con-
siderable setback After opening I'M
changed 10 sc lower. at 5i@4a5i7sc May
declined to size. The close was strong.
with May'3sc higher, at 55l@c. July was
also up CSC. at 534c Receipts, 247 cars.
The same influences that governed
wheat and corn affected the oats market.
May opened 1s@9sc lower. at 45d 1910.
declined early to 42i2c, but rallied later
to 44c The close was &T5sc higher, at
$3.50 43s4c. July was up sc, at 397sc- Re
ceipts, 1SS cars.
Provisions were strong. The opening
was at slight gains. the result OF a
smaller run Of hogs than expected. Buy
ing for investment account, due to the
war scare caused further advances later
in the day. The close was strong, with
May pork 271zc higher, at Sli.?7i= May
lard was up 1212Gl5c. at S.I5; and RIBS
10c higher, at 500
Estimated receipts for tomorrow:
Wheat p cars; corn, 30 cars; oats, 10
cars: hogs 5000 head.
The leading futures ranged as follows;