Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-11-21
SPECULATIVE PRICES OFF.
EVERYTHING LOWER, WITH DULL
NESS THE CHIEF FACTOR.
May Wheat Declines 5-Sc, but Deem
her Only 1-4c-December Options
in Corn and Oats Lose
More Than May.

Chicago. Nov. 2o.-A declining tendency.
due principally to lack Of speculative ac-
tivity. characterized usine in all the
grain and provision pits to-day. At the
close. wheat showed declines Of 10 in De-
ccmber and &c in May. Corn declined k9
&C. and oats &c for December and AqSc
for May. Provisions declined 5d1Oc.
Wheat opened dull and &c lower on ac-
count of Liverpool dropping the larger part
of yesterdays sudden and extravagant
bulge. 1t continued dull except for about
fifteer minutes In the middle of the ses-
sion, when the dull feature of the mar
ket was seized upon as a sufficient sign
that a bear raid might be successful; and
4; was to a moderate extent. The Mime
apolis and Dulut receipts were 1.n2 CARS.
against 1.20 the preceding Saturday and
49, the corresponding day a year ago. Chi
cage had lsS cars. against 13l a week ago
ances Of wheat and flour to Europe from
both coasts Of the United States and Can
ada were. with one exception. the heaviest
on record. They amounted to 6.653, 1872 BUSH
els. against 5.4i5.0O bushels the week before
and 3,93i.O0 bushels on the like week of
the previous year. Argentina did not ship
any grain to Europe this week, but a
cablegram from the Liverpool Corn Trade
News stating that Argentina was offering
a new crop Of wheat for March shipment
at 80 shillingS a quarter, or 800 per bushel,
was one of the most bearish features in
the rews of the day. 1t was also very
generally believed that yesterdays pecul-
lar advance at Liverpool was due to buy
tng orders from Chicago. Continental mar
kets were steady to firm. Antwerp quota
tons unchanged and Paris 20 centimes
higher for near and 10 centimes up for
late deliveries. Export clearances for the
day from Atlantic ports were AS. 600 BUSH
els. Some export business was reported as
having been done from here: $4,000 bush
els was the quantity and it was said a
similar quantity was disposed of for ex-
pert at Duluth. The probability is that
York reported eight boatloads sold for ship
ment there. May wheat opened at from
sOkc to stNc. sold up to 9OZc bid. down
ssss the close TO "'se and rested at "''S
Corn was weak, with the spread between
December and May widened to 3ka3ssc.
There was very heavy selling of May. one
firm disposing Of at least 10000 bushels.
Elevator people were on the selling side.
December suffer-. the most from the days
Liquidation. that option declining &c, while
May lost Nc. The weeks c~learances were
8.209 600 bushels. Receipts were 800 cars.
May VA Hanged from 2ssc to 2sikc and closed at
Oats were weak. with a very moderate
volume of trading. Prices declined under
selling by elevator people The bull crowd;
week. gave the market no support to-day.
Receipts were 3s7 cars. May ranged from
22lsc to &c. closing A@asc lower at 22lsc.
December oats. as was the case in corn,
caught the most liquidation and closed &c
lower.
Provisions were heavy. Closing prices
were the lowest of the day. and for ribs not
FAR from the bottom prices of the season.
There was some selling through brokers',
credited TO packers. the English packers in
particular. Large hog estimates for the
next week affected the market somewhat.
Dizziness was the feature. At the close
January pork was Tlsd10c lower at sS.17l1;
January lard 5d1lsc lower at s4.22Is, and
January ribs &c lower at $40.
Estimated receipts Monday: Wheat. 100
cars; corn. 45 cars; oats, $50 cars: hogs,