Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-07-11
EVERYTHING LOWER AGAIN.
ALL GRAINS AND PROVISIONS SUI
FER FROM LIQUIDATION.
Fear of the Government Report
weakens Wheat and Rains in
the West Cause n De-
elm in Corn.

Chicago, July 10.-Al the grain and pro-
vision markets suffered to a greater or less
degree from liquidation to-day in wheat.
indisposition TO hold wheat in the face of
the forthcoming government report being
the principal factor, while in corn the
breaking OF the hot wave gave prices a
kick in the wrong direction. Wheat closed
La%c lower. corn. &c lower, oats a shade
lower, and provisions show declines n
ing from zoe in pork TO 2lzd5c in ribs.
Wheat got a weak start because Liverpool
sent lower quotations and corn was easier.
The weather in the Northwest was favora-
bic for spring wheat growth, which was
another element of weakness to begin trad
ing on. The opening decline here brought
the price within the range Of the put"
price. September, which closed yesterday
worth sac. started to s51zc to-day. II rose
on buying against puts to 65BQ65&c. but
the volume of selling orders at that slight
Improvement vas heavie than buyers
could take care of. the consequence of
which was a gradual decline to s5Ag65%c,
with one or two 5000 bushels lots at 65hc.
Chicago received only five carloads OF
wheat and Minneapolis and Duluth only
20. compared with 4I2 on the corresponding
day of the previous year. The considerably
higher price for cash wheat at the latter
places than No. 1 Northern spring was
bringing here was a subject Of general
comment. A considerable quantity OF that
grade Of wheat was delivered here yester-
day afternoon on July contracts and was
another cause for heaviness here this fore
noon. New York reported, however. that
the sales of wheat for export yesterday
amounted TO sixty boatloads, or nearly 5OO,-
Oh bushels. and a firmer undertone pre-
vailed when that became generally known.
The weeks clearances of wheat and flour
iron hSspd eo'n Coasts > vs. Te re 6 egIai 70 fbe s'y wesS
before. Beerbohm's estimate on the worlds
shipments to Europe this week placed the
amount at 100000 bushels An estimate by
the Daily Trade Bulletin that the surplus
from this years crop Of wheat that could be
spared for export. from a yield Of 5JO.OOO,0O
bushels. would only be $4,000 bushels,
after making allowance for normal reserves
at the end OF the season. had a strengthen
ing effect for a time on the market. In
preparation for the weakness which usual
~ follows the publication Of the govern
ment report-One being due to~-day-the
traders were i~ndisposed to carry much over
till Monday. and the price got TO its lowest
near the end. September sold down to 6Slsc
and closed at 659sc.
In corn the general rains West and the
cooler weather were the considerations.
and there was considerable September for
sale at the opening at 265zc, a decline of
&c. This liquidation caused a further de-
cline to 26izc. when a good demand from
shorts caused a slight reaction. Liquida-
ton soon set In again, however, and con-
tinued TO the end. September closing at
26zc. substantially the bottom of the days
range. Local receipts were 394 cars.
A fairly good busine was done I'm oats.
though mostly at one quotation. The feel
ing was easier. in sympathy with corn.
Nothing OF interest developed. Local re-
ceipts were 217 cars. September opened a
shade lower. at lSisc, sold at lSq1S1sc. n
closed at 1SIsc.
Provisions ruled heavy. with quite gen.
eral selling and liquidation. A weak hog
market caused lower prices at the opening.
Lard and ribs were fairly well supported,
hut pork seemed to be utterly n~fendless,
and prices slowly but surely declined. At
the close September pork was zoe lower. at
$40; September lard 10c lower, at $3.50
5-91L, and September ribs PIC lower, at
A.37iE.
Estimated receipts for Monday: Wheat,
10 cars; corn, 40 cars; oats, go cars; hogs,
5000.