Kansas City daily journal., 1897-01-28
ANOTHER BREAK In WHEAT.
DROPPED TO 20 5-Sc YESTERDAY
MORNING-RECOvER TO 7G 5-sc.
erpOOI-COrn and Oats Advance
TriGe-PrOvisiOns
WeRl.

Chicago, Jan. 27.-Wheat broke 15sc again
to-day, but made n partial recovery, clos
ing at decline of lc for the session. Lii
quotation. started by the weak opening ca
bles, was very heavy. Corn and oats acted
independent of wheat for once, and ad-
vanced about &c each. Provisions were
weak and declined 2Iad1Gc.
Wheat opened very weak. with buyers
hard to find. at 1c lower than Tuesdays
closing prices. May, which was worth 774sc
at the close of yesterdays session. opened
to-day all the way from 76l5 to &c. 1t was
not generally salable above 76lac. although
in less than minute later 765sc was bid.
and some sales were effected at 762ic. After
holding for about half an hour around 76Ssc
there was an accession of weakness and
another severe and rapid break to 755sc.
The lowest price here recorded was reached
before an hour of the session had passed.
The decline was the result of the lower ca
bles from Liverpool. where a decline os
lsfd was recorded General IiGuidation be-
gan when trading started. the selling being
heavy during the first half of the session,
and commission houses were kept busy un-
loading wheat for their customers through
out the country. There proved to be quite
a number of people who had 4 profit in
sight as the result of the break and they
We're not slow to take advantage of il
Purchases were very free around 76Ssc blIt
when the shorts got through prices started
down the hill again, and 1t was not until
the export engagements began to assume
respectable proportions that a genuine raj
ly took place. Northwestern receipts were
small, at l62 cars. rs compared with 2l2 on
the same day last week. and AL a year ago
Chicago received 30 cars. against % last
week and 81 on the corresponding day in
1885. As was the case yesterday. however
this was attributed TO the weather. and but
little attention was paid TO the figures
When the figures for export engagements
had reached a total of 81 boatloads, May
was fairly on the recovery, the price reach
ing 16l2c by noon. The market was less
active during the last hour. but prices held
steady. May closing at 1850.
Corn did not partake of the early semi
panicky feeling in the wheat pit. but was
on the contrary. somewhat inclined 10 svrn-
pathize with the slight reactionary feeling
which set in after the selling pressure in
wheat had exhausted itself. Many good
sized lines of short corn We're covered
May opened &c lower. at 235sc sold IlD 10
2ic. and closed steady at 237sc
Not for n long time back has there been
such big trade in oats Shorts bought
freely and created very firm feeling and
higher prices. The market was independ-
emily firm throughout. and had no respeCt
whatever for the influence which wheat
usually tenders. May opened about &c
lower At from l1ssc to l7ka172sc. sold TO
l1a.hl77sc, and closed with IT1sfil7stc hid
Provisions were weak from the beginning
10 the end OF the session. Hog receiptS
wore small, but yard prices were lower
and this furnished an excuse for the free
offerings. Some commission house buying
late in the day served to steady prices
slightly At the close. May pork was about
Ice lower. at S1.S5: May lard PIC lower. It
J.saE!3.9alz: May ribs. SC lower. at Sid5
Estimated receipts Thursday: Wheat 20
cars: corn, 2;5 cars; oats. lS5 cars: hogs,
3O,O0o. s'''