Kansas City daily journal., 1896-11-18
WHEAT STILL GOING DOWN.
DECEMBER MADE a NET LOSS OF
1 I-2c YESTERDAY.
Heavy Liquidation Responsible for
the Weakness of the Mnrket-AH
the other Markets Suffer
IN sympathy.

Chicago, Nov. T.-Wheat closed to-day at
q decline Of l:zr. The news was not espe-
cially bearish. but heavy liquidation. which
has been characteristic Of the market for
several days past. again forced prices
down. All the other markets suffered from
the same cause. corn declining &c, oats
54c and provisions 7izaI7i4c.
The controlling power in the wheat trade
WAS thoroughly established in command to
day. Liquidation, which has been more or
less prominent for several days past,
reached large proportions during the prog
Tess OF the. session. The news was, for the
most part, the reverse Of bearish, but the
market acted as if all that has recently
been heard about deficient crops in the
world had all been authoritativeIy and Of
ficially cOntradicted and abundance re-es-
tablished. Liverpool opened rather weak
at IA decline for srGt wheat and un-
changed for futures. But shortly after the
opening here. private kilograms quoted a
Id advance in December. which resulted in
considerable buying and a substantial ad-
vance. Opening prices for December were
from T@4c 10 7I@sc, as compared with yes
terddys close Of 7sj4c. After selling at
17l4c for instant, the private cables re-
seiTtl 10 caused an ADVANCE 10 It;EinISc.
Those private cables were a snare, for di-
rect cables showed a decline at Liverpool
OF I'd from the opening, and early buyers
soon regretted their confidence North
western receipts showed n big falling off
from last year. Minneapolis and Duluth
reported S3s cars, as compared with 1855
cars last year. 4 local news collecting
agency announced that the worlds visible
supply had increased 7sSD,GJ0 bushels last
week. This was not incOnsiderable factor
near the opening in starting the selling,
which became so very heavy during the
forenoon.
BraGstreet's figures on the visible re-
ported total increase of 6S53. 900 bushels
in the worlds visible, but the small
ness Of these figures, as compared with
the earlier announcement, had little effect.
After the advance to 7Sc. there was a sue
cession Of regular declines, until, about
forty-five minutes from the close. 76zsc had
been reached. The closing was charac-
tertzed by a little more firmness. Derem-
Der gradually advanced to 76&4a7G5sc, where
81 closed.
Corn was again dull and decidedly weak.
the influences being the weakness of wheat
and more liberal offerings of new wheat.
Liquidation was active all day, and prices
were lower from the start. May opened
a shade lower at 2si4c, declined to 2T14c
and closed easy at ZT7sc.
There was good business transacted in
oats. The opening, though lower was fair
" steady and offerings were readily taken.
Later. mainly in sympathy with wheat. the
market fell off and liquidation became free.
Mcy started about I,c lower at 22lta222sc,
declined to 22c and closed easy at 22lsd22J!c c.
Provisions We're weak from the start and
the only feature developed was the general
liquidation in all products. The opening
was at a considerable decline, in sympathy
with the weak hog market. As the press
IRE Of offerings increased, prices declined
further. closing prices being about the low
est of the day. January pork closed 1Jc
lower at $50: January lard, T7l5c lower at
S.92ls' January ribs, 7l2c lower at 1871.