Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-06-06
ONLY WHEAT GOES LOWER.
OTHER SPECULATIVE MARKETS IN
CHANGED OR IMPROVED.
Wheat traders Shy on Account of
Mondays HOIiday-COrn Strong
on -UnfaVOrabIe Crop News
Oats and Provisions.

Chicago, ILL.,, June 5.-The adjournment Of
the board Of trade from noon to-day TO
Tuesday morning caused both parties to
the wheat deal TO operate with. more than
their usual caution. The result of that,
Notwithstanding a preponderance Of bear
ish features in the days news, was a de-
cline of only &c per bushel in July wheat.
September, however. declined sc. Corn
averaged firm. and closed at 1-16c better
than it did yesterday. Oats kept strictly in
line with corn. Provisions were unchanged
a: the close.
The Continental markets did not much in
fUence the trading here. although the
Paris market was said to be weak and de-
cliring because of improved weather. The
principal factor at the opening was the
publishing of an Improvement of 3 points
in the condition of Kansas wheat since
May /. The market opened with sellers of
July at from SIS to &c. and a sale or two
at 61kd674c slipped through about the
ramc time. The tendency was downward
after that, and in about half an hour the
price was reduced to G63sc for a moment,
with vastly more buyers than sellers, how
ever. at the price last mentioned. Septem-
Der in the same time declined from 63sd64c
at the start to 631sc.. The weeks c~learances
of wheat and -four from both coasts, as re-
ported by Bradstreet's. was. equal to 2.62l,-
O01 bushels. against 2.0Sl.OO0 bushels the
preceding week ana 5,<O9,OO DushSiS the
corresponding week OF last year chicago
receipts We're % cars, and Minneapolis and
Duluth reported $40 cars received. The
Atlantic port clearances for the day were
very small. being equal TO only u.s. 900 BUSH
els. The comparatively small uantity OF
contract wheat i'm store caused the short
sellers 10 act timidly. and they were rem
dered still more cautious when they heard
il rumored that several firms had wheat
sold to Armour & co. which they could not
ring up" Therefore, on the moderate de-
cline referred to. those who had a profit in
short wheat became anxious to secure II,
vance again to around &c. Cold weather
in Manitoba-cold enough, it was said, to
freeze wheat TO the rOots-waS an element
in the closing reaction In. prices. July re-
covered to 61G61Ikc, and closed at $3.50 bid.
Trading in corn was fairly active ana
firm. in the main. People VINO were sup
posed to have a desire to cover corn al
ready sold short maIe n drive at the mar
kpt early I'm the session. That caused a de-
cline in July from 235sd24c at the opening
10 2234c. but as soon as the previous selerS
commenced to show a disposition TO buy at
the decline. the price went up again QUICK
w to 94C and a shade better. Reports from
the country were for the most part OF an
u~ufavorable character regarding prospects
for the growing crop. The kansas state
report gave the condition of growing corn
az 80. The closing price for July was PC,
at which there were many buyers and few
sellers.
was alone the result Of sympathy with
corn. July opened at f5sc. touched LAG,
advanced to 1I5sdlSc, at which price II
closed.
reduction in price which the trading started
with. The decline was recovered from near
tho end under the encouragement OF the
strength in corn. Closing prices Wre SUD-
stantially the same as Friday
F,stimated receipts for Monday: Wheat.
20 cars: corn, 500 cars: oats, $50 cars; hogs.
10000. For the entire week li5.WO hogs are
expected