Kansas City daily journal., 1897-01-14
MORE THAN A CENT LOWER.
OPENING FIRM, WHEAT DECLINED
ON WEAK CLOSING CABLES.
Bears in Full Control During the Aft
ernoon-Corn and Oats COrre-
spOndfngIy Weak and Low
er-PrOvisiOns Stronger.

Chicago. Jan. 13.-Wheat to-day, although
opening strong at an advance, turned weak
and closed weak at trifie over cent de-
cline Weak closing cables started lquida-
ton. which was INDUCED in to an extent
hardly warranted by the general situation.
Corn and oats We're correspondingly weak
and lost about &c each, but provisions
managed to score slight advance.
In wheat. the firm opening was the re-
suit of the steadiness of Liverpool and light
Northwest receipts. The first cablegram
quoted I'D advance in futures, and a later
one gave prices as I'D higher, or nearly
double yesterdays advance here. North.
west and local receipts. too. were moder-
ate. Chicago only got IS carloads of wheat,
against JOG n year ago, and Minneapolis
and Duluth reported 2l3 cars, against 12O
week ago, and 40 the corresponding day
of the year before. Later in the day, all
but I'D of the Liverpool advance was re-
ported lost and prices started downward.
Opening prices for May were from SlAc to
Sllkc as compared with yesterdays close
of S05sc, and after n slight decline to S05sc,
ii had another little advance to Sl1tgSlssc.
The latter was the highest price Of the day.
Trade was noticeably light during the first
half hour of ir1nness, ana only Increased
in volume when the price had got well un-
der soc. Among the reasons for the weak
ness which superVened was rumor re-
gardlng the -four trade which 1t was said
was everywhere very dull. MlnneapolS
reported only 1900 barrels of flour sold yes
terday and Milwaukee reported 5000 bar
rels of Minneapolis -four stored there and
$50 cars more on track waiting storage
The light seaboard clearances OF wheat
and flour-114 600 bushels-encouraged SELL
ing and firm foreign markets at adj
Vanced quotations did not help the buy
ing The bears were on top, and IL they
bought on the breaks they put the wheat
out short again on the rallies. when there
was one and at lower prices when the de-
cline continued. In other words, X was a
scalpers' market. May finally declined to
7gEsc and closed weak at f94s4199<c.
Corn had very quiet session, with prices
almost altogether dependent on wheat. 1t
was inclined TO firmness as long as wheat
held up its end of the speculative trade,
but weakened readily when that market
SET the example Bradstreet reported a
Visible increase of 10000 bushels. May
opened about &c higher, at 2424c, sold at
2i4td297sc, then weakened to 241Ec, closing
Oats opened steady to firm on bad wealth
or reports from the West, ana through
sympathy with wheat. The latter influence
was stronger by far than the former, and
triumphed later on in the session, causing
a decline in prices. There was n good dis
position to buy on the part of the shorts,
and several lines, both large ana small;
were evened up. May opened unchanged
nj 1SaLc, sold between 1870 and 1850, clos
ing easy at the latter price.
provisions ruled strong, and closed that
way. the only thing on the hoor to do that
rThe market was dull during the forenoon,
hut livened up under the improved de-
lnand which came mostly from shorts. The
early weakness of the hog market caused
n slight opening decline in prices, but this
was soon overcome At the close May
,I,orlt was a shade higher at Sl.S0dI.92l2;
May lard a shade higher at AO514.OIl2
and May ribs 2i2c higher at $40;
Estimated receipts Thursday: Wheat, II
cars: corn, 2e5 cars; oats, l2o cars; hogs
IS 600.