Kansas City daily journal., 1896-11-21
SHARP DECLINE In WHEAT
CLOSES 5-sc LOWER. AFTER A
DAY OF MARKED sLUGGIsHNEss.
Opened More Than Cent Below
ThHrSday'E CIose-CDrB "a Little
Lower and Oats Quoted
"a TrIne Higher.

Chicago. Nov. 3G.-Wheat was decidedly
sluggish to-day, and cioscd about nc low
or. Mot Of the decline was cue 10 the
weak Liverpool opening. and although lat
er news was Of an encouraging character.
the narket refused TO respond. Other mar
kets showed EOTne Independence corn clos
ing Ne lower, oats shade higher, and
provisions unchanged to Zlzc higher.
Liverpool again gave the tone TO the be-
ginning Of the wheat market here. II sent
quotations from ia 10 2i4d pr GENITAL
lower than the previous days closing
prices. 50 strong was the desire TO sell at
the commencement and 50 cowed aBd eau
tiOus at the same time were intending
buyers. that December had to be offered
at 7Gc, as against TIC yesterday. before
buyers could Be found. To add TO the
opening bearishnesr. the receipts at Min
neaDoIs and Duluth had risen to sl9 cars.
compared with 81 carloads a week ago,
ana 9es the corresponding day the year be-
fore. Some Of the European news was
quite bulhsh. Paris reported unfavorabIe
weather and stated that France would be
an importer before another crop, and Liv-
erpool confirmed the reports OF damage by
Iocusts 10 the Argentine crop After the
ing prices there was another stump be-
cause Of a New York telegram saying light
rains had fallen in Bombay. 1t was after
ward said. however. that the rain in India
had not fallen where It would help wheat
growing. The best improvement in this
market followed the estimate by a local
statlstician that the visible supply for the
week was likely to show
decrease Monday Of 10000 bush
els and possibly 10000 bushels. The
increase the corresponding week OF
last year was 1885 900 bushels. The de-
mand for cash wheat was good and came
from both exporters and home millers.
Early in the forenoon sales of 10000 bush
els were made. and 5000 bushels Of that
was No. 3 hard winter for export. After
recovery 10 TIC the market began to tend
downward again. The Continental markets
sent much lower quotations at the close,
and that renewed in its full force here the
very bearish feeling which had been tenn
porarily overcome. Finally, about half an
hour from the close, December broke to
7jlzc. There was very little recovery, De-
cenber closing weak at 75izG755sc.
Corn opened weak, under the influence Of
the big drop IN wheat, but the decline with
which the market commenced broue hit in
so many who had previously sold short to
take advantage Of the chance TO buy that
the price soon rose again. The improved
in sustaining prices. May started l5c lower
at 25i4c. It rose to 2G2tc. then declined to
26ika26l4c closing steady at 26asG261tc
Oats opened weak and isc lower than
yesterdays closing prices Later on in the
session the feeling was firm and prices ad-
vanced, but fell back again toward the
finish and the gain at the close of the ses-
sion was small. The only influence the
market submitted to came through sympa-
thy with wheat. May opened at 2i2sG2llsc,
sold at 2lizc. advanced to 2l5sc and closed
steady at 21iAc bid.
The opening in provisions was seemingly
Influenced by the weak start in. the wheat
market, but after the hog products had
risen with the subsequent foranoon's re-
coveTy in wheat they did not again 20 be-
low yesterdays closing figures, although
wheat became so much weaker than at
first. Only a fair business was transact
ed. January pork closed unchanged at
$40; January lard PFC higher at S3 S7lsa
$50; January ribs closed unchanged at s. 90.
Estimated receipts Saturday: Wheat JIG
cars: corn, 80 cars: oats, 80 cars: hogs,
1900