Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-12-02
WHEAT BOTH UP and DOWN.
DECEMBER GAINS 1-2c AND MAY
GOES DOWN 3-4c-wEAKER.
MistakinE an Order Causes Slump
supply Less, hut Still H~eavy-Se-
we're weather Strengthens
J~uly-COrn Firm.

Chicago, Dec. 1.-Wheat was firm to-day,
but very dull about twenty minutes from
the close OF the session. when II started on
a decline that left it HdAc lower for May
than it closed yesterday. Lack Of export
demand was apparently the final weakening
feature. Corn. oats and provisions were
all dull and price changes at the close were
Insignificant
The misunderstanding Of an order to buy
December wheat came near demoralizing
the market at the opening. A commission
firms order to its broker to buy 25.0D BUSH
els of December wheat was misconstrued
and the wheat was, instead, offered for sale,
which resulted in some other small lots
coming on the market. and in an almost i'm
mediate decline to &c. as against 3 at
the close yesterday. Tit mistake was soon
discovered and the buying of not more than
$1,000 bushels put the price up again to S6s4c
started unchanged at Size. but the effect Of
the d-isorganization in December caused a
temporary depression in May 10 sV5tc. 1t
quickly recovered. however. and In the
course Of the forenoon Ii reached yl'sc. The
cold weather continued throughout the Win
ter wheat region: and the fields are still
uncovered. The St Louis crop experts ev-
identity thought the trials that the plant
was being subjected to were more than 1t
could live through. as several orders came
from there to buy July wheat. That future
in consequence was relatively stronger than
May. Minneapolis and Duluth receipts once
more this week showed a falling on. COM
pared with the previous weeks. but We're
still discouragingly heavy against those of
a year ago. Those places reported 15 cars.
against 16e last week and SIS the like day OF
"A last year. and shipments hence were "a
600 bushels. Atlantic port clearances were
equal to $4,000 bushels in wheat and flour.
The Western primary market receipts were
1.OGs. 900 bushels. compared with only JV4. 900
bushels last year. Zero weather prevailed
In the region around Duluth. SO that 1t was
shipments would be made by lake from
there this season. This was delivery day.
but Notwithstanding that fact. there was
hardly any wheat turned over, and 1t is the
belief that but little Will be until navigation
is closed.
ures but May. which was sd higher. but
1t closed strong at from ed to Id higher.
March. the active trading month. being
the strongest. Notwithstanding the rather
encouraging situation. the trade was SO
light and the active local traders SO re-
luctant to retire with any unfinished bust
to dispose of long. wheat they had ac-
cumulated during the forenoon's rise. the
market slipped from under them and the
price of May went down from glac TO
9O3sc about fifteen minutes before the close.
New York reported but ten loads for eX-
port. This lack of export demand started
cult by the almost utter lack Of buyers.
and prices slipped down very easily. May
closed at 90sM90Ec. December behaved
better after its morning gymnastics and
closed at SEC. an advance of iyc.
Corn was firm and very little affected
by either the early strength or closing
of wheat. The better feeling
was due in a measure to the belief that
the December liquidation is about over
and the spread to-day narrowed some.
There were no deliveries on December
contracts. Cables We're firm and exports
good. amounting to 5000 bushels. Receipts
were $40 cars. Country offerings were
moderate. but the weather is favorable
for the movement. Trade was unimport-
ant. May ranged from e9hc to 29lsc. clos
ing a shade higher at 2sIsa2sHc.
Up to a short time before the close the
market for oats was firm. active and high
er. December especially showing strength.
and sympathy with wheat all helped in
advancing the price. Deliveries were
small. TIN late break in wheat started
May liquidation. however. and the market
lost all its early advance selling at the
bottom at the close. Receipts were 25
cars. May ranged from 3kc to 22hc. the
latter being the final price. December
higher at a02c.
The market for provisions was for n
time smothered under the enormous re-
ceipts of hogs to-day. This feature
coupled with rather free deliveries of pork
and lard on December contracts, caused
mand Improved and the market slowly
rallied and closed fairly steady. There was
a moderate shipping demand at the close.
January pork was &c lower at $.15: jan
nary lard n shade lower at 81. DBL. and Ian
uary ribs unchanged at 1870.
Estimated receipts Thursday: Wheat.
10 cars: corn. AS cars: oats. $50 cars: hogs.