Kansas City daily journal., 1896-10-27
DECEMBER WHEAT UP "A CENT
RECEIVERS A PART OF SATURDAYS
HEAVY DECLINE.
Decidedly Nervous Throughout the
Sessfon-Dul Day i'm the Corn
Pit, With 1-4c Advance
Oats and ProvisiOns.

Chicago, Oct. 26.-After a number Of ner-
vous fluctuations over considerable range,
the price of December wheat closed to-
day with an advance of 1c. The burning
of two big local elevators had considerable
influence in maintaining prices towards the
close. Other markets were extremely dull,
but steady, corn advancing kc; oats about
the same, and provisions 21sd5c.
Wheat was decidedly nervous throughout
the session, and speculators were evidently
at sea as to whether it was better to buy
and heavy Northwestern receipts favored
lower prices; the sensational decline last
week of nearly lie per bushel suggested
sufficient reason to expect a. recovery of
part of that, at least Each of those fac
tors alternated in their influence over
range of about &c per bushel. during the
two first hours of the session. The first
trades in December were over stimuli
taneous range in different parts of the
pit of from 695sc to 70Ac, as compared with
Saturdays closing price of 69s4c. Shorts
Immediately manifested a desire to cover
and their efforts ran the price up rapidly
to 7llsc. Second cables from Liverpool
quoting a s4d decline, in addition to I'D
lower prices quoted at the Stdrt, Created
a five minute stampede, resulting in a de-
cline to 69ze. In a minute after the lat
ter quotation was current. the price was
back again to 693sc; from all of which it
can be seen how unsettled were the ideas
of the SPECTATORS. Saturday, wheat in
Chicago declined SIC per bushel, and 1t
was expected that Liverpool would show a
corresponding decline, but II did nothing
of the sort: 1t opened I'D higher for futures.
tations from there revealed a slightly
easier feeling. Continental markets were
rather weaker than the English. Mime
apolis and Duluth reported receipts of 1889
carloads, against 1, ,642 a week ago and 1,704
cars on the corresponding day of last year.
The domestic visible supply increased 2,477,-
900 bushels. compared with an increase of
4,2S,00o bushels the similar week of last
year.
"A fire in the Pacific elevators which was
said TO have destroyed over 100000 bushels
of wheat lent its aid to the bulls in the
last hour of the session and turned senti-
ment so strongly in their favor as to have
advanced the price to around Tic about ten
minutes from the close, after many unde-
cided fluctuations between the limits OF
6sStc and 70lzc. The latest trading price
for December was 705td701c.
In the daIllest day in the corn Dit
that has been seen there for a month Al
Though dull, the market was by no means
weak. The firmness of cables was of sug-
startial benefit, as was also the strength
displayed by wheat toward the close. May
opened at 2sisc, or IL higher than it closed
Saturday. 1t sold at 2S5sc and as high, near
the end. as 2slad2Sssc, with 2S1.c as the
9atest trading price.
Oats We're quiet but a firm undertone
was manifested. prices being almost en-.
tirely controlled by corn. Offerings were
light and there was but little disposition
to buy. May opened about 1kc higher. al
21ikT2iSsc, sold at 2iasc. advanced to 2lIc
and was offered at 2lssd21a.c at the close
Provisions were as duh as the corn mar
ket and about on a par with the latter ir
the matter of their firmness. The marke
showed some firmness early and advanced
somewhat. but most of this was lost later
The closing WAS steady at a slight ad
vance. January pork closed 21sc higher, a
$3.50: January lard &C higher, at s452Is
January ribs. PIC higher. at $3.50.
Estimated receipts Tuesday: Wheat, 81
cars; corn. 1000 cars: oats. 4So cars: hogs
5000