Kansas City journal., 1897-06-05
WHEAT TURNS DOWN AGAIN
JULY SUFFERED A DECLINE OF A
CENT YESTERDAY.
Weak Liverpool Market the Cause for
the LOss-COrn and Oats Also
Close Considerably Lower
Provisions on.

Chicago, June 4-Wheat to-day closed at
a decline of 1c per bushel. Liverpool. which
yesterday was the guiding star of the bulls.
was responsible for the disaster which
overlook them to-day, that market show
ing a break as sensational as was the ad-
varce Of the day before. Other markets
were also weak, corn declining 1kd5sc, oats
1l03sc, and provisions 5q15c.
Wheat began soon ds business started
10 rid itself of the effect that the Liverpool
advance of the day before made upon it.
That market reported a decline of Id PER
GENITAL before trading commenced here. The
result was that July. which closed ycster-
day at 6Slsc, was sold at the opening to-day
al 6'5zq6l9sc, and declined in the2 first
twenty minutes trading to 671sG67llc, al
though few sales were made Immediately
after the opening at I%d675sc. A &c reac-
tion followed the drop to 671scd6714c; then
business died away and the price once
more declined to its previous low point
Liverpool meantime, continued to decline
and about the period of the second drop
here to 6714c the English market quotation
for July was 1Sld lower than at the close
o. the day before. Another bearisF feat
ure Of the early news was the Ohio June
crop report, which gave the condition of
wheat s., or per cent improvement during
May as against a condition of 40 at this
date year ago. The taking of 1000 BUSH
els No. spring at from &c TO PIC premium
over July late yesterday afternoon and
early this forenoon was the only encourage
ing item the bulls had. Chicago receipts
were p cars, and the quantity inspected
out was 1900 bushels. Minneapolis and
Duluth receipts were 314 cars, COMPARED
with 4Ui week ago and AS the correspond
ing day Of last year. Elevator stocks at
Minneapolis and Duluth are estimated TO
have decreased 600 900 bushels compared
with l 56SOO bushels at the two places the
week before Chicago stocks are expected
10 show q decrease for the week of 800 600
bushels and the visible a decrease of !. OO.OOO
bushels. Atlantic port clearances of wheat
and flour were equal to $4,000 bushels
Liverpool closed with a drop of I'd for the
day, The market here declined TO 67c on
that. No increase of business followed the
additional decline, however, and the mar
ket ruled exceedingly dull to the end. The
closing price was 67Isc bid.
Corn was easier on fair amount of trad
ing. the decline being due to large receipts
the break in wheat. Short selling was
prominent all day. The receipts amounted
TO s., cars. July opened lsd95c lower at 2fk
M2shc. II declined 10 23kC. and recovered
to 2e7sG24c bid. where 1t closed.
Cats were dun and weak. chiefly through
sympathy with corn, although good wealth
er, large receipts and the extreme narrow
ness of trade also contributed TO the de-
cline Buying is scattered. Local receipts
were 42l cars July opened lsc lower at
1Sikc. declined 10 1iAc, and closed at 11is
The provision market was merely a repe-
titior Of early days in the week, about the
only feature being its dullness. The Cud-
ahys were sellers. as were commission
houses. A larger run OF hogs than expect
ed and the break in coarse grains were the
causes of the decline. At the close, July
pork was 15c lower at $40. July lard &c
lower at $3.52l9, and July ribs &c lower at
81 22l5.
Estimated receipts Saturday: Wheat. 70
cars: corn, S35 cars; oats, 400 cars; hogs,
$500.