Kansas City daily journal., 1897-01-05
WHEAT OFF NEARLY A CENT
LOSES 4 GOOD SHARE OF ITS BIG
GAIN ON SATURDAY.
Market Chiefly Influenced by tie TAX
ing of ProGtS-COrn and Oats
both Decline in Sympa-
thy With WheHt.

Chicago. Jan. 4.-Wheat to-day lost near
Iyl cent of the 1Fsc gained Saturday. chief
IL on account of the general taking of prof
its which were sufficiently enticinB at
the opening advance. The Northwest bank
failures We're also influential TO degree.
Other markets were more or less affected,
corn declining about sc: oats. &c, and pro-
visions 21ga12iac.
Liverpool was :, decided factor i'm wheat
1T the opening Opening quotations in
that market were all the way from Id TO
I'D higher. At the same time, il was
known that the amount of wheat on ocean
passage had decreased very heavily, and
that the worlds shipments to Europe last
week were small. Beerbohms called the
decrease on passage. 3.4I6,ODO bushels. and
the total amount put forth for the week
40 900 bushels. With that TO start with,
wheat. which closed Saturday at Si'Sc.
opened with buyers at anywhere from S'c
10 Sji2c and 81 &C.. the most general price.
There was abundance for sale at those
prices by people whose previous purchases
showed a handsome profit, the result be-
ing gradual but almost steady decline,
until the price of May went down TO S41c,
about 1880 o'clock. Some of this selling
came from outside points, notably st.
Louis. and was influenced by signal serv-
ice reports of snow in the winter wheat
district. allaying greatly The fears of dam
age to tina crop. Chicago receipts were g.
cars and 52. 900 bushels We're inspected out
of store. Minneapolis and Duluth got only
sol cars against 6iS on the corresponding
day of last year. The worlds shipments
last week as finally reported. were 5,2Oi.00O
bushels against 3.7S4 OO0 bushels the week
before and 6 G2l, 900 bushels the correspond
ing week last year. The visible supply
showed an increase of 20SO00 bushels in
stead of a decrease Of about that much.
Closing cables were very firm. with Liver
pool at a total gain of % since it closed
Thursday last; London, Cd per quarter
higher, and Berlin. IL marks higher. The
market here, however, was kept down by
steady selling out Of long wheat, a great
deal of which during the last hour was
caused 10y several bank failures in the
Northwest. The price of May finally got
down TO S3S4C. and closed easy at S3'sFtSic.
Corn opened "A shade better, in sympathy
with the better tone in wheat. but turned
weak as The leading cereal declined. Trade
WAS light with but little from outside
sources. May opened a shade higher at
25z,H2Gc and declined. with several fiuctua-
tions. TO 255sc when it closed.
Liquidation was the order of the day in
oats The market opened steady. but weak
cned later. in sympathy with wheat and
on the decline several good sized lines We're
disposed of. The visible showed an increase
of $4,000 bushels. which mad some effect.
May opened Il shade higher at l97,dl9fsc,
sold between lS;sc ana l"'sc. closing easy
at 1910 asked.
Provisions Were rather tame. ana appear
cd to be as much under the influence OF
the wheat fluctuations We're the other
grain markets. The opening in the prod
nets was at some little advance because
of the Disappointing number of hogs re-
ceivcd. Tho market lost its tirmness as
wheat began its decline. Packers were
moderate sellers and long pork and ribs
were likewise said TO have come upon the
market I'm small lots. At the close May
pork was 12iec lower at $50: May lard 2lac
lower at $397le; May ribs about &c lower
at &ig1a.
Estimates for TuISJi5y: Wheat, 4Si cars;
corn. 20 cars: OATS go cars, hogs. y, 600.