Kansas City daily journal., 1896-12-09
FROM WEAK TO STRONG.
MAY WHEAT CLOSES AT so 3-4c AFT
Err TOUCHING 80 1-2c.
Decrease in the Worlds Visible Re
spOnsibIe for the Gain-COrn and
Provisions Advance n Tri-
He-Oats Unchanged.

Chicago, Dec. S-Wheat was to-day con-
verted from an apparently hopelessIy weak
market to a strong one by the large worlds
visible supply decrease. May closed 40
&c higher than yesterdays final figures,
after having sold over a cent below that.
Corn advanced &c, oats did not change,
and provisions advanced 2izq5c.
May wheat opened to-day at ssdssc
below the price it closed at the day before.
The opening range of prices simultaneously
paid in different parts of the pit was from
SOC to S014c with the bulk of the transac-
tons at the lower figure The opening Lon
don and Liverpool markets We're heavy in
tone at somewhat reduced prices, and these
were the chief sources of the weak feeling
which started trading here. The fact that
stocks in Europe and afoat increased over
100000 bushels last month was also a
factor and the decline which started with
the opening continued until May touched
f9isc. Then the sentiment changed and the
lone of the market gradually improved up
70 the time of the receipt of Bradstreet's
visible supply statement, which was eX-
pected to be bullish and justified such an
Eeipations The days statistics also furn-
shed some encouragement. The Chicago
receipts were 50 cars, compared with 2S7
IN the corresponding day of last years i'm
ports, and Duluth got 4S2 cars, against ,239
4 year ago. The Atlantic port Clearances
Of wheat and flour We're equal to 475OOJ
bushels. A telegram from st. Louis said
that one-tfth of all the No. red wheat
there had been sold in the last twenty
four hours. The Bradstreet's figures were
r total decrease in the worlds stocks of
I947 900 bushels. on receipt of that. the
price, which had meanwhile crept up TO
B9asc. rose to S0Ssds0a4c, and after slight
reaction to S0l=c IL took a second squirt as
high as sic before the effect of the big
reduction in the worlds visible exhausted
itself Closing cables showed general de-
clines. The market, however. held its ad-
vance well, May finally closing steady at
sg24dsrkc.
There WAS an unusually large trade in
corn. 1t was accompanied by no excite
ment and prices kept within a narrow
range, being goyernhd almost entirely by
the variations in wheat. May started isc
lower at &c. It sold between 26i4c and 25'sc
and closed steady at 25'sT25'4c.
At the opening. oats We're steady and re-
mained so until the professional talent
from wheat and corn came into the market,
and by free selling caused prices to decline
and a weak feeling to prevail. Later. how
ever under liberal buyiue. and to some eX-
tent through sympathy with wheat, there
occurred a reaction which recovered the
early loss and a slight fraction in the
bargain May opened a shade lower at
21i,c. declined TO PIC, recovered to 2l2sc,
closing steady al 2llsGCl1sc.
Trading in provisions. as usual, was quiet
but prices werc steady and changed bu;
little Opening prices were slightly higher,
felpad hv a firm live stock market. This
vas also the incentive for the good buying
which followed. and which held prices
steady throughout the session. May pork
closed = higher at s. %: May lard. 2izc
higher at $40; May ribs, PIC higher at
a12Ia
Estimated receipts Wednesday: Wheat
IS cars; corn, 80 cars; oats, 2e7 cars; hogs
SScy0.