Kansas City daily journal., 1896-11-28
HAY WHEAT BRINGS So CENTS.
CLOSES AT 81 3-4c, 1 1-2c ABOVE
WEDNESDAYS CLOSE.
Opened Lower, on Foreign News, but
Quickly Reacted-Corn Triffe
Higher and Oats UnchanE-
cd-PrOvisIOns Firm.

Chicago, Nov. 2T.-Home and foreign in
huences shared equally III advancing the
price Of wheat to-day to point nc above
the closing price Of Wednesday. Wheat
absorbed most Of the attention, other mar
kets being comparatively neglected. Corn
advanced &c. oats closed unchanged, and
provisions advanced 7IEca15c.
Two items of news IN the foreign press
dispatches received here yesterday caused
the selling out OF some long wheat at the
opening. One OF them had reference TO
the benefit to the crops in India from the
breaking Of the drouth and the other a
decline of Id yesterday in the price of
wheat at Liverpool. The last named piece
of Information was probably the result of
the first May wheat here, in consequence
of the two together, was offered at the
start from $50 down to s2ssc, as compared
with S3i4c at the close Wednesday. The
sellers offerings at those prices were in
stantly absorbed, and the desire for much
more than was for sale became so urgent
that the price was soon advanced to
&s. The mRrBst was extremely nervous
for while after that quick addition of
llc from the lowest point at the opening,
and II settled back to s3ikc. From the lat
ter there was a renewal Of the buying fu-
Tore, which again stirred up a bullish
calmed down for a while the May future
had sold at sfIlc; all that within forty
minutes OF the opening. But in that forty
minutes most of the history of to-days
wheat market was made. The trading
after that quieted down, although the mar
ket exhibited consistent strength.
one of the strong features OF the mar
ket, and one which will probably continue
70 be a strengthening factor. was the
Emallness Of the Northwest receipts, which
mutely testified to the truth of the state
ments that much Of the crop had already
been moved. Chicago received thirty-flve
carloads. compared with 1853 cars a year
ago. Minneapolis and Duluth got 554 cars
since Wednesday. against 1900 cars on
Thursday and Friday of last week. and
compared with LII cars on the correspond
ing two days Of the year before. Liverpool
reported at the close an advance since yes
terday Of 1jld in futures, and I'D in No.
Northern, on the spot. That disposed
effsotually Of the ID reduction there yes
tsrdRy, which worried some of the traders
at the opening here. May got to $50 about
half an hour from the close, and was worth
Sia.c as the session closed.
Trading in corn was neglected to a large
extent. The advance in wheat and eN-
citement in rye gave corn an undertone OF
ftrmness without creating demand enough
20 raise the price very much. The OPEN
iug was At 27Ilc for MAY. shade under
Wednesdays close. 1t did not get above
27izc, and 27Fsd271kc was the closing quota
tion.
In oats there was very little disposition
10 trade either way. Prices were confined
20 a very narrow range, and for the most
part ruled a shade frmer principally
through sympathy with wheat. May open
ed unchanged. at 22ssc, sold at 2SKc, ad-
vanced TO 227Sd221zc, and closed with SELL
ers. at 22%c.
Provisions were firm all day. though on
n rather limited market The ruling IN
fluences were the falling of in Western
hog receipts and the firm local market
This was responsible for the higher open-
ing and though liberal offerings caused a
temporary decline. prices soon turned up-
ward and closed firm. Nav pork closed
J5c higher. at $50; May lard TIC higher.
at A27ibT4.2o; May ribs. about l0c higher.
al N07ikG4.l0.
Estimated receipts Saturday: Wheat. 70
rsrs; corn, ESQ cars; oats. go cars: hogs.
h.o0n