Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-07-08
CORN And WHEAT UP AGAIN.
WHEAT CLOSES I 3-Sc HIGHER AND
CORN AT AN ADVANCE OF 1-2c.
strengthened Near the Close
Wheat Helped by For
eign Markets.

Chicago. July Corn to-day maintained
tho leading position l. assumed on change
yesterday, although all the markets showed
more or less revival Of speculation. Corn,
under heavy buying in the last half hour.
closed at a Ikc advance. after selling that
much below yesterdays closing price.
Wheat was helped by higher foreign mar
kets. and corn closing at a 1%c advance.
Oats closed unchanged and provisions I'M
changed to Us lower.
In wheat. the foreign markets gave a
good start in an upward direction TO the
price of the article here. New York haG
buying orders from abroad TO begin the
day with. and commission houses here hal
also direct orders on the snme side of the
market. both from the United Kingdom
ami Continent. Liverpool reported an al
vance of I'D per GENITAL and Paris was said
to show a gain of l franc for flour. St.
Louis had Il more Lullish view of the
foreign situation than did the traders here.
TO Judge from the way they inundated
their Chicago brokers with buying orders
at the opening and kept them up for the
next half hour. The local contingent was
not slow TO follow the lead of st. Louis
AMI bought freely for a time. but they
were quick TO take their profits when Lkc
advance had been recorded. Opening sales
of September were made at 65d6Sisc, the
price Ii closed At yesterday. Ii advanced
10 65%d654c without stopping. then slowly
slid of to 65hC. While the early strength
in corn was a help TO wheat at that time.
the latter took little notice of the weak
spol that afiicted corn temporarily in the
niddle of the day. II received the more
telling support of a good foreign demand,
beth for shipment and for futures. New
York ardyised engagements for August
September export of thirty boatloads. The
Atlantic port Ciearances of wheat and
-four were equal TO 300. 900 bushels. The
Chicago receipts were twelve cars. Mimi
esIClis and Duluth reported the receipt of
151 cars, compared with 21 n week ago,
and 4$S on the corresponding day OF the
year before. Tho smallness Of the North
west receipts was also n strengthening
factor.
The market had a strong upturn in the
last hour, on the foreign buying reported
at New York and the sharp advance in
corn September shot mp to 6sIzc under
the buying which ensued, and closed firm
Germ again was the leading market on
the floor. 4 heavy business being trans
acted. There was nothing alarming in
the morning news, but the realizing which
took place was not so great as expected.
The market was quite evenly balanced up
to the last half hour. with realizing at
thu top and buying at the declines equally
conspicuous. Late in tho session a ma
tcrlal increase in outside orders sent prices
up in a hurry. September opened about
&c lower at 27hT27Izc. sold at 27h. up TO
27Sc. back to $3.50. then jumped to 27hT2Sc.
where it closed. Local receipts were eco
cars.
In oats. the only feature to the market
was an increase in outside speculation.
The market showed no particular indie
pendcnCc. simply following the lead of
corn. but there was not enoug business
TO CAUSE fluctuations of note. Local re-
ce;pts amounted TO 452 cars. September
opened unchanged to 1SlsGlszc. declined
10 TIC and rallied to Isle. where II closed.
In provisions. there was a disposition to
sell by the people who have lately given
the market its best support. The OPEN
was easy on liberal hog receipts. and
under free packers offerings prices slowly
slid of. Part of the decline was re-
covered later, as corn made its final rally.
At the close. September pork was about
at S-IIlz: September lard SC
lower at A.i2i% and September ribs about
PIC lower at A.45G4.4TL.
Estimated receipts Thursday: Wheat. 9
cars: corn, $50 cars; oats, rs cars; hogs.
g. o..