Kansas City daily journal., 1896-12-31
LOSES MORE THAN A CENT.
WHEAT UNABLE TO HOLD TUES
DAYS BIG ADVANCE.
Anxiety of Longs 10 Take Profits Sends
Prices Down-Corn OF 6-sc-oats
3-sc-ProvIsiOns Are I'm
changed.

Chicago, Dec. 3O.-Wheat to-day lost a
triae more than cent of the &c advance it
made yesterday. The recent rise in prices
finally proved too tempting to holders and
profit taking on a liberal scale was the
main reason for the decline. OF the other
markets, oats was especially heavy, break
ing sc. Corn declined go and provisions
wound up the session at substantially un-
changed figures.
Wheat opened at substantially the price
it closed yesterday. It did not remain long
at that, but quite lot of long wheat had
TO be dumped into the pit before the bull
spirits became sufficiently diluted to as
sumo the appearances of bearishness,
which a subsequent drop of 1L4c per bushel
would indicate. The discouraging item of
the early news which caused those longs
who had profits TO conclude to take them
was an opening Liverpool advance of only
I'D. Opening prices for May ranged from
sac TO SIC and there was a large give and
take trade for about half an hour between
the lower of those figures and S41sc, only a
very little, however, bringing the latter
price. II worked down to S32sc, recovered
to S33Sc, and then took a long deliberate
slide to S25zc, getting to the latter point
before u o'clock The greater part Of news
other than the indifference of the Liverpool
market was far from bearish. Receipts at
Minneapolis and Duluth were 2Z7 cars, COM
pared with 37g the corresponding day of the
week before Export clearances were 600
bushels in wheat and flour from Atlantic
ports. Argentine news was more unfavOr-
able than any hitherto reported. a reliable
Liverpool firm cabling that the surplus of
wheat for export would not exceed 12,0O6.-
600 bushels. Russian shipmemnts were also
said 10 be light. The decline brought some
claimed. but details were not forthcoming
up TO the end of the session. The quantity
claimed to have been worked was about
10000 bushels No. spring. The market
got decidedly weak during the last hour
on the weak closing cables, foreign selling
at the seaboard and heavy local realizing.
May finally sold down to S21zc, but rallied
TO S27sdS2c on buying against puts, and
closed at that figure.
Corn was firm early. in sympathy with
wheat, but weakened later as that market
declined. The liberal exports-over 100000
bushels-helped TO steady the market, but
did not prevent some decline the weakness
being especially marked in the latter part
of The session. Trade was slow and prin-
cipally of a scalping nature. May opened
unchanged at 257sc, sold between 257sG26c
and 25Ssd25lzc. closing easy at 25lke.
Oats displayed an easy feeling at the
start. which later developed into a very
heavy one. The market for time re-
ceived good support and held fairly steady,
but during the last hour heavy sales by
some important interests caused a sharp
break. Part of this was recovered on a
good local demand. May opened unchanged
at 201sc, declined TO 19ls11914c, and rallied
20 leIxc bid, where it closed.
Trading in provisions was almost eXclus-
lively of a changing over character. The
trend of prices was slightly downward and
there was in the end a slight loss estab-
nshed in pork. otheE products show prac-
ticaIIy no change, and not once did prices
have more than Sc fiuctUation. May pork
closed at $3.50; May lard. $5-97lz; May ribs.
S39593.s7Iz
Estimated receipts Thursday: Wheat Is
cars: corn, go cars; oats, 200 cars; hogs,
g O00