Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-11-18
BOOM In TIE OATS MARKET.
PRICES MAKE A BIG JUMP, CLOSING
,-sc HIGHER FOR THE DAY.
Sympathy with This Bulge Sent
wbeat Up 4 1-4c and Corr Up
l.2c-Proviaions Dull, but
Firm and Higher.

Chicago. Nov. IA little bulge which
took place in oats n which advanced the
price Of that article &c was all that saved
wheat and corn from almost utter stag
nation to-day. Sympathy with the strength
in oats put some degree Of activity and
considerable strength into both these mar
kets during the latter part OF the session.
Wheat closed 1Ad1Sc higher. and corn
advanced kc. Provisions were hrm' thousn
dull, and advanced 5a1oc.
Wheat was fairly strong at the opening
and for some time thereafter. although
keeping within a range so narrow as to
be remarkable, even for a dull market.
The foreign wheat markets were not as
bearishly affected by the decline of the
day before at Chicago, as they were ex-
pected to be, and the Northwestern receipts.
were very much lighter. Private cable
grams also confirmed yesterdays dis
patches reporting less fayorably of the
condition of the Argentine wheat crop.
With such encouragement to holders the
market here opened at a slight improve
ment over yesterdays closing prices, May
starting at S9hdssNc. and selling shortly
after at S9Nc. Only a few of the smaller
shorts covered, and as the bulls did not
press the market. the trade during the
morning was very small. with prices keep
ing a little above yesterdays closing fig
ures. The two Northwest receiving points.
Minneapolis and Duluth, reported 1853 cars
of wheat to-day. against LAO Wednesday
a week ago. and sos the corresponding day
Of the previous year. Chicago had III car
loads inspected into store, against 1i last
week. and 63 a year ago. Liverpool had
declined sd per Genital before trading start
ed here, but Paris was quoted from 5 CEN
times to Is centimes higher for wheat and
20 centimes higher for near deliveries of
Hour to 10 confines Improvement for March
and April. The market was aided in a de-
gree by liberal Atlantic clearances. The
quantity Of wheat cleared from Atlantic
ports was 34l. 600 bushels, and of flour. 1900
barrels, or equal together to 435, 900 bushels.
The primary market receipts of wheat
were 1.03O.6 S3 bushels, compared with SIT. sos
bushels the year before, and, therefore, to-
days excess was not SO markedly bearish
as recent similar comparisons. A dispatch
from San Francisco said the price of wheat
there was 4c per Genital lower than it sold
yesterday. and New York reported in the
forenoon that there was very little appear
ance of export demand. The market here
was oversold. however, and a furry that
started in oats, putting up the December
price of that article 1c per bushel, COM
municated additional nervousness to the
shorts in wheat. After Il o'clock the price
began to feel the effects of the jump in
the coarser grain and for the first time in
the session the price of May got above
Soc. 1t stayed above that mark, the ad:
vance started by the unusual strength and
activity of oats keeping the market going
until near the end May was bringing So.sc
The close was strong at s0Ad9obc
Corn was a dull market, with practically
nothing going on except changing unit
oats developed its strength. This aroused
shorts and the market was TRANSFORMED
into nm avoaadinDly H1iN.a1yr nnn prfcpu IN
to that time had been steady, helped by
wheat. receipts of but 2e5 cars and a goot
seabord demand. Shorts were active bid
ders during the last hours trading. ant
prices moved up steadily. closing at thu
top. Seaboard c~learances were 3l5.0 0 bush
els. May ranged from 3Gd3oisc to 29lsc. ant
closed NC higher at 30G30lsc.
Oats were strong. the strongest thing oil
the floor. The short interest, which wa
restricted yesterday by the influence o
wheat and corn. had full sway in the mar
ket to-day The strength was started b.
the acceptance at &c over yesterday
prices of all of last nights cable offer
mand from shorts as prices advanced. TIL
spread between December and May mar
rowed considerably, and elevator peopl
are predicting that they will come to tn
same price. The fact that Chicago contrac
stocks are only l25.00 bushels. and ar
controlled by two firms. was an importan
amounted to 40, 900 bushels. May range
from 2ssG22&c to 2lad21sc. closing Is
higher at 22ssI22Ac.
Provisions opened strong. and althougI
trade was very small all day. prices wer
well maintained. Hog receipts were So
less than expected and yard prices wer
higher: This was the cause for the open
ing advance in provisions. Buying wa
moderate. but sufficient to keep the ma
ket firm. The close was strong at close I
top. prices. January pork 10c higher a
$50; January lard 2isN5c higher nj 81
and January ribs 5d1i-c higher at 81 oIIL
receipts Thursday: Wheat. !,
cars: corn. 400 cars: oats. 81 cars; hog.
32.O0O.