Kansas City daily journal., 1896-12-29
WHEAT A SHADE HIGHER.
MAY CLOSES STEADY, WITH AN AD-
VANCE OF 1-Sc.
Local hank Troubles Offset BuIlish
NewS-COrn and Oats n Trife
LOwer-PrOyisiOns n Tri-
de Higher.

Chicago. Dec 2S.-The unsettled local
financial conditions offset to a great extent
the favorable effect OF the extremely light
worlds shipments on wheat to-day. The
market closed steady at &c advance. Fluc-
tuations at no time We're sharp, the range
of prices being but sc. Other markets
were dull and steady, corn closing shade
easier, oats &c lower and provisions about
2l9c higher.
Wheat opened very firm, because Of the
small shipments of the week from the ex-
porting countries of the world. The closing
of another rather important Chicago bank
alone prevented that, and the other statist-
zeal news concerning wheat-which was of
the most bullish kind-from producing
much greater degree of strength than was
exhibited in the course of the day. Re
ports received before the opening indicat-
ing that the total worlds shipments for the
week would be less than 100000 bushels
caused May wheat, which closed Thursday
at Size TO open at from S2lsdS2ss, with the
bulk of the first transactions at S24c. There
were few sales in the next few minutes
at S23sdS2lkc, and those were at the highest
price of the forenoon. Trade was extreme
Iy light up to Il O'Clock, and during that
time the general tendency in price was
slightly downward. The trading price
sagged quite slowly, but inside of the first
forty minutes it had got as low as Sl&sc.
The official report of the worlds shipments
made the total only S,7s4,O00 bushels, of
which amount 2,112,0O0 bushels was con-
tributed by this country. The visible sup
ply statement was another surprise, as,
owing TO the small exports from the sea-
board last week. an increase was expected
FT~a. 80 of h1IC C1alG
against an increase of $4,000 bushels at
the corresponding time of the year before.
These two items had a good effect, and
after the decline to S1%4c mentioned, rally
to S23sc took place. The amount on ocean
passage is $4,000 bushels, smaller than a
week ago. The price during the last hour
had many fluctuations between S1Sic and
S2Kc, but was inclined to resist any re-
duction below SIC, and that was the clos
ing price Rumors of further bank trou-
bles were denied, and New York reported a
continued foreign demand. Those were the
prevailing influences at the close.
Corn ruled quiet, steady and nearly feat
ureless, keeping within narrow range and
very close to the finishing figures of Thurs
day. 1t did not derive much benefit from
the firmness in wheat, as large receipts
were reported to-day and liberal estimates
for tomorrow were made. May opened a
shade lower at 252sc, fiuctuated between
25AG25ssc and 2514c, closing heavy at the
opening figures.
Oats were slow of sale and easy, with
prices &c lower at the close. At the start,
the feeling was steady, in sympathy with
the firmness in wheat. An increase of
i.O42. 900 bushels in the visible supply caused
a disposition to sell and brought about the
weaker tone. May opened unchanged at
2Oc. sold at 2Olsc, dropped back to 192iq
1870, and closed at 1880.
The trading in provisions was almost en-
tirely confined to changing January con-
tracts over into May. Prices fluctuated very
slightly and for the most part in favor OF
the long side, helped partly by wheat and
partly by a firm hog market At the close
May pork was a shade higher at $3.50; May
lard. 2Ikc higher at $i.0OG4O2la; May ribs
2i4c higher at $4.00.
Estimated receipts for Tuesday: Wheat
50 cars; corn, 355 cars; oats, S75 cars; hogs
2f,OOo.