Kansas City daily journal. [volume] (Kansas City, Mo.) 1892-1897, 1896-06-13
WHEAT VERY NERVOUS AGAIN.
AFTER EXCITED TRADING JULY
CLOSES UNCHANGED.
Conservative Traders Disposcd to
Close out Their Deals and Wait
for n settled Mnrkct-COrn
and Dat. Were Higher.

Chicago. June ia continuation of the
nervousness shown in the wheat market
yesterday was evident to-day. and with
about the same final result. July closing
practically unchanged. The market was
rather puzzling in character, there being
no apparent reason for the violent fiuctti-
atoms. Corn and oats each closed a shade
higher. Provisions closed 2isT5c lower.
In wheat there was a fair speculative
trade, but operations We're on n much
more moderate scale, room traders. owing
to the very crratic action of the market
yesterday, being inclined to act with
caution. and We're In fact very timid. Price
changes covered liac range. TIL opening
was rather weak, July opening at from
5Ii4c down to SIC, as compared with 5IAsfp
57isc. its closing price yesterday. After
about fifteen minutes of moderately active
trading, over a range OF from 57Ac to 57fsc,
the simultaneous appearance of n number
of buying orders In different parts of the
pit started a counterpart Of those Wild
thirty minutes of yesterdays session, ale
though there were no such wild fiuctua-
lions as on the day before; After an ex-
cited and confused scramble for a few
minutes. the price OF July was foundt to be-
struggling anywhere around from 5si4c to
5si:c. with some difficulty in getting over
time. News was not very important, but
cables We're inclined. to weakness. and tho
,cSS'pts III nv Noi'hN.sl 'ohliHut HtaNs'
being Ill cars. against 1876 cars a year ago.
trade Is dull. and even the scalp
ers are not disposed to do much. The
nervousness and sensitive character of the
market. and the ease with which radical
bulges and breaks are brought about, has
discouraged many conservative traders,
and the disposition is to even up trades
and wait for more settled conditions. It
was this evening up which had more in
iiuence in fixing values for the first hour
than anything else. and when it was ac-
complished the market settled down to
quictness and comparative steadiness. The
market had n nervous squirt during the
Northwest, rumor of large cash purchases
here ana some alarm growing out of a
possible squeeze for July, owing 10 the
small stocks In regular elevators. July
sold un to 5si.c, but soon fell back to
5'igc, and closed unsettled at that price.
Corn, showed considerable firmness, tho
irmness of wheat and the wet
weather holding prices steady. There was
also some covering by shorts. who had
higher. at 27s.m2Tsc, touched CSC and
closed firm at the opening price.
But little business was done in oats
price changes were exceedingly mar
following, wheat and corn. July opened
n shade lower at l7ssc, sold to Use and
closed steady ut l1i.c.
Provisions were fairly active. The OPEN
Ing was strong and ut some advance, be-
cause of the ilrmer hog market. At the
packers and outside selling and prices
weakened. July pork closed 5d7i.c lower.
nj .N.lhTI.lils: lard July &c lower. at S4.l7lb:
July ribs. 2i.c lower, At S3.s5.
Estimates for saturday: Wheat. l6 cars:
corn. W. cars; oats, 800 cars; hogs. 1i.0oo.