Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-07-14
WHEAT STRONG And HIGHER.
INFLUENCED by HIGHER CABLES
AND LIGHT DELIVERIES.
Close Was ut nm advance for Ia Day
of 1 I-Sc to 1 I-4c-COrn and
Oats n TrIHe HfEher-PrO-
visions Little Changed.

Chicago. July 12.-Wheat to-day was in
fuenced By higher cables. light deliveries
of new wheat and by the sharp advance
at ST. Louis. closing strong at an advance
Of IkaILc. Other markets were quiet,
most Of the interest centering in wheat
Corn closed &c higher. oats a shade high
er and provisions unchanged TO 2'sc higher.
Wheat was strong from the start. The
Liverpool wheat market commenced at an
advance Of I'D for futures and I'D for
spot. and the next report received. just
as trading began here. showed a further
gain of sd in futures. That caused n
strong opening here, September being
wanted at 6Gl.d662sc. compared with
sos. Ge55sc at the close the day before ana
selling almost Immediately to 65izc. some
other strong points connected with the 90
nestle receipts helped also to create the
bullish feeling thus expressed Inc en-
cago receipts were only sewn cars. four OF
which were new wheat. Last year on the
corresponding day 80 cars OF new wheat
were inspected into store in Chicago. 81:
Louis got to-day 22.5W bushels, compared
with $1,000 bushels a year ago, Inc re-
celpts at Minneapolis and Dulut were J5I
cars. against 49, the similar day OF the
year before. The advance in price TO 6512c
brought out plentiful offerings from those
who had calls to buy and mat checked
for q time any further rise. New York
reported some foreign buying orders. The
principal break TO the enthusiasm OF the
DlllE WIS the EAAtDNI HIVE AAoAh NAAI
Northwest regarding the spring wheat
crop. At Chicago. st. Louis. Toledo, Kan
sas City and Detroit the receipts to-day
aggregated 1900 bushels. against $1,000
bushels the corresponding day of the year
before. This fact was given a great deal
of attention by traders. as IL apparently
indicated exhaustion, OF interior supplies OF
old milling wheat The Atlantic port clear
anoes Of wheat and -four were mall at
the equivalent of l35.OO0 bushels. The clos
ing cablegrams reported Liverpool ad-
w~1HraT ~ the daz- I'D for NUlN aud Id
for S----ber and December. New York
was as buIish as Chicago on July wheat
and St. Louis more bUllish than either.
The chief trading of the day until within
twenty minutes OF the close was at around
564d66ssc for September. but about that
time the &c advance at st. Louis woke
traders up and in "A very short time the
price was rushed L to GIzsc. There was
very heavy covering near the top of the
bulge. By closing time, September had
reached 10 SIC.
Corn was neglected, the volume of trade
being smaller than for some time. and
fluctuations were confined to a very mar
row range. At the opening. a firm feel
ing prevailed. due 70 sympathy with
wheat. The market weakened a trihe
later. more from lack Of support than from
any bearish news. but became strong again
with wheat. Local receipts were 754 cars.
September opened n shade higher at 26Ss6
25Ac. sold between 26l2d26sc and 262G
26FSc. closing at 262C.
The hrmnes which characterized oats
was for the most part due to sympathy
with wheat. Business was limited and al
most entirely local. Shorts were the best
buyers. Local receipts were 81 cars. Sep
tember opened unchanged at 1SIsd1Sl4c and
held within that range all day, closinE-a at
Isle.
Provisions ruled dull all day and weak
until within an hour Of the close. The
opening was lower on larger hog receipts
than expected. There was quite general
liquidation during the morning ard a con-
sequent further decline in values. but when
wheat started on its final advance some
of Its strength was injected into provis-
ions. all the early loss being picked up
and a trifie more. At the close, September
pork was 2l2c higher at $7.55. September
lard a shade higher at 3.90d3.92h and Sep
TENDER ribs a shade higher at A.3Od4.32Is.
Estimated receipts Wednesday: Wheat,
81 cars; corn, 400 cars, oats. 10 cars; hogs,
1900.