Kansas City daily journal., 1897-01-31
WHEAT ON The UP GRADE.
MAY CLOSED YESTERDAY WITH AN
ADVANCE OF Bic TO Use.
Many Ups and Downs During the Day
News of BuiIish Character
Other Markets Dull and In
cIined to weakness,

Chicago, Jan. 30-Wheat, considering the
fact that il was Saturday and, therefore,
had but q short session, had a remarkable
number of ups and downs, but finally
closed on the upgrade, with an advance OF
S4d5kc. Good export engagements were
potent factor in the advance. The other
markets were dull and inclined to weak
ness, corn declining about 1sc, oats about
1te and provisions PIC.
In wheat, a decided feeling that the liqui-
dation of long wheat had run its course
for the present was at the bottom of
good advance which marked the opening.
There were also other features which in
fluenced the advance. Liverpool closed at
an advance for the day of from I'D per
GENITAL for January to I'D up for the later
deliveries with spot wheat unchanged.
New York reported very general accept
ances by the Continent and United King
dom of offers cabled last night, and early
in the session advised the working of fif-
teen boatIoads for export. The Chicago
receipts were 81 carloads, compared with
s. a year ago. Minneapolis and Duluth re,
ceived 1S9 cars, against 176 a week ago and
$50 the corresponding day of the year be-
fore. Argentina shipped 10000 bushels this
week, against 2SS,o0O bushels the similar
week last year. The most of the items emu
merated were on hand before the opening
and their Joint effect was that May wheat
started with jump of from sc to &c per
isfactory to the more timid SPECTATORS
and their realizing brought about a reac-
tion to 75c, which was quickly followed by
an advance TO 75%c. This, as in the case Of
the opening strength, was brought about
by news of a character too bullish to be
overlooked. New York reported the sale OF
fifteen boatloads of wheat for export, and
sales of flour in the Northwest yesterday
were said TO have been the largest in two
weeks. Some of the leading commission
houses also had large foreign buying orders
for futures. Here, again, shorts got in
Liverpool stocks, and pounded down the
price TO FAC, the lowest point of the day.
IT soon picked up again and touched 76c
more to 74atG75c about half an hour from
the close. Buyers on every soft spot were
plentiful. and the price soon recovered TO
15'sdI594c, with 151zc the trading price at
Corn was firm at the start and it looked
decidedly strong for time The offerings
from receivers against purchases in the
country were too heavy for the buying or
ders in the market and shorts who had
good profits in sight on account of yester-
days ADVANCE unloaded. The large esti-
mated receipts for Monday also tended TO
weaken the market and prices gradually
declined. May opened &c higher. at 2il9c,
sold at 2+ssc, then declined to 2ic, closing
at 24iSG24iIc.
Oats showed good buying at the start,
hut the shorts, like those in corn, were a
thing of the past, and the market showed
some weakness, gradually declining under
the hammerlng it received. May opened
lkc higher, at 1880. 1t fell of to 1f%c and
recovered to 173sdlsc under some late COW
ering. where il closed.
Provisions were duh and almost feature
less. Opening prices were shade higher
on light receipts. Packers sold moderate
ly, causing a slight downturn. Prices
fiuctuated within narrow range through
out the session. AT the close, May pork
was 212c lower, at sissy; May lard a shade
lower, at S3.97iL04.00, and May ribs q shade
lower. at Ss00d4.02l2.
Estimated receipts Monday: Wheat, 4;
cars: corn. $40 cars oats, go cars; hogs
10000.