Kansas City daily journal. [volume] (Kansas City, Mo.) 1892-1897, 1896-05-02
WHEAT TAKES A BIG TUMBLE.
July CLOSES MORT THAN A CENT
LOWER THAN on THURSDAY.
Favorable weather Conditions and
Big May Deliveries Have Dcprcss-
ing Encct-Mnrkct for Corn
and Provisions Weak.

Chicago. May IAN Improvement in the
weather conditions in tho winter wheat
belt and heavy May deliveries created n
weak wheat market to-day, and July closed
ii4c below yesterdays final figures. Corn
and oats participated In the weakness and
closed ic lower each. Pork and ribs
closed lower, lard showing q slight ad-
vance.
Wheat was fairly active at times, and
the range for the day was lac. The easi-
ness at the start was influenced in q meas
ure by the liberal deliveries on May con-
tracts, probably between 2.75o.000 and $780,
900 bushels going around, being sent out by
the elevator interests. Cables did not show
the steadiness expected. and cut some fig
ure. as did the liberal Northwestern re-
ceipts-4S6 cars-which were la cars larger
than the samo day last week. and about
equal to those of n year ago. The small
decrease in Liverpool stocks also was q
little disappointing. the reduction in the
stock of wheat there during April being but
1l2,0D bushels. Many who bought on the
strong impulse the market got at the close
yesterday got discouraged and sold out.
Elevator interests. were liberal sellers of
July openly and brokers. supposed to he
acting for the same interests, We're picking
up the May at lac difference. The chief
sustaining Influence was the crop news
from private sources from North Dakota,
where seeding Is delayed and rain reported
Wltnln the past tWenty-lOuT NlOuEsp eSpe-
cially In the Red river valley. But later the
signal service predicted generally fair con-
ditions for the Northwest tonight and
Minnesota, and a gradual decline, lasting to
the end of the session, set In. July opened
a shade easier at 6ic, sold at 6SAa637sc, III
to 6ii4c. and declined TO 63a4. The market
in the last twenty minutes seemed to have
lost all Its friends. and selling became
quite general. The bears and bulls We'd
with each other in their efforts to find buy
ers for their offerings, and in the last fif-
teen minutes, when millions We're for sale
and buyers hard to find. July sold down to
G2ssa62Ic and closed weak at 62Fic.
Corn was weak and quiet. a downward
tendency was given. at the start from the
July, opening isc lower at s0Ac. gradually
declined, closing weak at @lssc. The sm I'll
shipments and export clearanceS were also
discouraging features.
In oats there was not 20 much pressure
to sell ut the opening, and a. iirmer feeling
resulted. Later, however. offerings became
free and yesterdays record breaking prices
were touched. July opened unchanged at
l9Hc, declined to lS9sc. and closed easy ut
1S3.c.
Provisions ruled weak all day. Tho OPEN
ing was lower. influenced by the demor-
allied condition of the live stock market,
further reductions were noted in pork and
ribs. Lard received some support and hold
well, July closing 2Iac higher. at ASIla.
July pork closed 2Jc lower. at $50; July
ribs Sc lower, at Sale.
Estimates for Saturday.: Wheat, 16 cars:
corn. 3s cars: oats. 200 cars; hogs. l7,eoo
head.