Kansas City daily journal., 1897-01-27
A SHARP BREAK In WHEAT.
REACHEDTHE LOWEST POINT SINCE
OCTOBER, CLOSING At II 3-Sc.
Weakness of Liverpool Quotations
and the Government Crop Re-
port the Bearish Features
Low Record for Oats.

Chicago, Jan. 26-Wheat had n greater
decline to-day than on any previous day
for several weeks and sold below 7Sc for
the first time since the middle of October
last. May brought 79c at the start and
sold at 779sc near the close, finally resting
at TsSc, a decline of 13sc for the day. Corn
declined sc, oats made u new low record
for both January and May. the latter
month resting at sc decline. Provisions
declined 5Gt7l2c.
IN wheat the marked weakness of the
opening Liverpool quotations was all that
was necessary to make :, decidedly wobbly
start, as traders, disappointed at the et-
feet of the government figures on the
forthcoming crop, needed but little 10 start
them to unloading. Opening sales for May
were made at 7S5sd79c, compared with yes
terday's closing price of 7yl5Fi795sc and by
IL O'Clock the market had declined to 1Sisc
The government. besides its estimates of
the home crop. publishes a communication
from Minister Buchanan, representative in
Argentina Of the United States, to the ef-
rect that Argentine would have 1880, 600
bushels of wheat for export. Minister
Buchanan's letter was dated December 9
anu OF course. relates TO a condition of af-
fairs which later advices show to have
changed very much. The report. neverthe-
less, had some effect. Chicago and North
western receipts were again very light, but
lllat was Inscribed 10 the effect of the eX-
treme cold upon the transportation GaciIi-
ties. Chicago got forty-ive carloads,
against lI a year ago. MINNEAPOLIS and
Duluth reported receipts of l2I cars. COM
pared with 26S week ago and 40G cars the
corresponding DAY of last year. Atlantic
port clearances We're equal in wheat and
flour TO 3l5, 900 bushels. Bradstreets world &
visible showed a decrease for the week of
1,lSJ.OO0 bushels. The heaviness of the mar
ket here increased as the close of the ses-
sion approached. There was a general Civ
ing up of the ship by the bulls in the last
fifteen minutes, and drop of another lc
per bushel in price. May had recovered to
iSisc and declined to 772sC. with 775sc the
last figure. The temporary advance TO
1Sssc was caused by a I4d closing recovery
at Liverpool.
Corn was slow and weak. Influenced bv
the break in wheat and the expectation of
larger receipts TO follow the cold weather
ana the probable reduction of rail freights
from the Interior There was considerable
llquiuatlon and falr amount of short SELL
Ing. The price was already so low, how
ever. that only &c decline resulted. Nav
opened g shade lower at 2334 34d237sc, declined
10 2@Ss62S@4c and closed at 233tc
Oats established a new record to-day
and that fact was the principal item of
news. The feeling was weak from start TO
iliiSh and closed at the low prices of the
day. The decline was brought about
through sympathy with wheat although
some liquidation was going on in a small
way. May opened a shade lower at lI3ic
and declined 10 lISd11lsc where II closed
Trading in provisions was extremely dull.
The sellers were chiefly confined TO pack
crs, and even their offerings were light so
that the pit was half deserted during the
greater part of the session. They were
suiilcient, however 10 produce small gem
cral decline. May pork closed about TIC
lower Mt S92i3H1.97ia, May lard about Sc
lower AT SAOgd4uZ7a, and May ribs about &c
lower at $i.O5. "
%I.O00. 7@'