Kansas City daily journal., 1897-02-10
MAY WHEAT UP YESTERDAY.
RECOVERED TWICE As MUCH AS 1T
LOST THE DAY BEFORE.
No Particular Reason for 1t Except
That the Bulls Were in the Ma
jOrity-Other Speculative
Markets Higher.

Chicago, Feb 9-Wheat to-day recovered
twice as much as il lost yesterday, the
May option closing at full sc advance.
There was no particular reason for the 2d-
vance, as far as the days news was con-
cerned. but the bulls were once more in
the majority and prices were forced up
ward. Corn recovered &c and oats ad-
vanced 1sahc. Provisions closed 5G15c
higher Wheat opened weak at from 76Is
TO 76l4c for May, as against 761ka765sc, its
closing price yesterday. The Liverpool
market, which recently has displayed n
good deal of readiness TO follow declines on
this side, opened at I'D decline. The chief
reason for the weakness here. which may
have also been an influence in Liverpool.
was a statement made by the Liverpool
Corn Trade News TO the effect that the
worlds stocks of wheat and -four which
decreased 100000 bushels between Janu-
ary ] and February l, 1856. only decreased
10000 bushels in the similar time this
year. That statement was q surprise to
the trade, as the reverse of such result
of supply and consumption this year COM
pared ith last had been generally expected.
The later cables showed recovery in the
English market. Explanations from the
other side limited at the political compli-
cations which might result in a scratch
of war. This becameSa factor in the mar
ket. The heavy Northwest receipts OF 50
cars were offset by the flour sales of 81. 900
barrels and the talk of mills paying May
price for wheat, and prices then started to
mend. After the recovery was fairly start
ed. the trade got bull helps. st. Louis
messages revived the crop injury talk.
Central Illinois points sent complaints of
a serious nature. New York reported lib
cral exports for the day. The four ports
cleared $4,000 bushels in wheat and -four.
The buying on the foreign war talk be-
fore midday put the May price to TIC.
Bradstreet's report of the worlds visible
showing only a SIS, 900 bushels decrease last
week caused the price to react to T&c.
where it closed, the board adjourning at
1915 p. m. to enable the members 10 attend
the funeral of the late Hugh Mcmillan.
Corn was easy at the opening with wheat
and firmed later on the same account.
Speculative business was rather peter
than the recent average, and was largely
I'm the way Of covering shorts. Export
cloarances were liberal, $4,000 bushels.
May opened a shade higher, at 24c. sold
at 237sG24c. reacted to 24l4c and closed
steady at 24G24isc.
Oats were fairly active and firm. Tho
selling pressure was less urgent and shorts
showed a disposition to take profits. The
iiTmness in wheat and corn also helped
oats. May opened unchanged at TIC. sold
10 1II.d17ssc and back to 173sdlTlsc, where
II closed.
Business in the pork pit was of moderate
dimensions and prices improved consider
ably. Some of the improvement was due
TO the disappointingly light hog receipts,
and some of it to the rise in wheat. Eng
lisl concerns were again good buyers. At
The close. May pork was about 15c higher
at SI.71s17.S0: May lard. &C higher, at
3.S7lS and May ribs about 10c higher at
S400d4.02la.
Estimated receipts Wednesday: Wheat.
Is cars: corn. SO cars; oats, go cars; hogs,
10000.