Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-06-13
UP NEARLY A CENT.
RECEIVERS THE GREATER PART OF
FRIDAYS DECLINE.
Foreign Crop Damage Reports the
Cause of the A~dvance-COrn and
Oats a Little Stronger
in Sympathy.

Chicago, June 12.-Wheat to-day recov-
cred the greater part of yesterdays de-
cline, closing at about sc advance. There
was quite general covering by shorts who
had oyersold yesterday, and who were
stimulated by disquieting foreign crop DAM
age reports. Other markets were sympa-
thetically strong, although provisions alone
made any substantial advance, closing ga
ne higher.
The opening in wheat was under the dis
piriting effect of the hot summer weather
which has at last appeared and foreign ad-
vices favoring the bear side of the market.
both Liverpool and Paris showing declines.
July wheat, which closed yesterday at 6S1sc,
opened at from Csc to 6S1kc, and in a minute
or SO later it touched 677sc. At that point
some other factors in the market received
recognition, and, being of a bullish charac-
ter, the price began to improve rapidly.
The rise which then set in was not checked
until it reached CSC. Perhaps the most in
nUential factor in the advance was a pri-
vate cablegram from a Chicago board of
trade man now in London confirming pre-
vious reports of severe damage to Danubian
crops. The crowd had evidently sold yes
teruay, and covering Was quite general.
More complaints of damage by grasshop-
pers were received from South Dakota, but
received little attention, the area affected
being as yet too small to attract general
interest. Minneapolis and Duluth receipts
81 4AAb a6aAAADN r Aa1N c anu -
a year ago. Chicago had u cars inspected
into store and 1900 bushels withdrawn.
Argentina shipped no wheat to Europe this
week, and Beerbohm's estimated the
worlds shipments for the week at only
5.GU0,O0 bushels. Bradstreets reported the
weekly clearances of wheat and flour from
both coasts and from Montreal at 1890 JJ
bushels, against 2,620,OOO the week before
and 2,922,0W the corresponding. week of last
year. Trading was more largely confined to
July than to September, while business was
brisk, and the former was relatively me
stronger. advancing &c while the latter
was making &C GAIN. After July had sold
at &c and September to 649sc, they reacted,
respectively, to 6S5sc and CSC, but again re-
covered TO soc bid for July and 64i4c for
September. with latest trading at Csc for
July and 64d64Isc for the later delivery.
$4,000 bushels. $1,000 bushels of which was
No. ? spring at lAc premium over the July
price.
transacted. The start was rather weak,
affected by the ideal weather for the crop,
and liberal receipts, 625 cars Offerings,
however. were scarce. and when wheat
started up. corn was not slow in following.
Some of the advance was lost later on real
iZing. January opened &c lower at Z44sc,
sold at 244d24Sc. advanced to, 24Ac. and re-
acted to 241aG24kc, where it closed.
Oats were steady, the feeling being en-
tirely I'm sympathy with corn and wheat.
Trading was light all day, and nothing of
interest developed. Receipts were reported
al S25 cars. July opened &c lower at 175sc,
advanced to 1S1sc, and closed at 1SdlSlsc.
Provisions were fairly active and higher.
The opening was strong, due TO the i'm
provement at the yards. and a firm feeling
prevailed throughout. although the best
prices were not maintained. English houses
and local packers were on the selling slde;
At the close. July pork was &c higher al
S752h. July lard SC higher at S65, and July
ribs 7lzc higher at A.S5 :,
Estimated receipts Monday: Wheat. II
cars; corn. els cars; oats. $50 cars; hogs