Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-11-11
SHARP UPTURN In WHEAT.
STRONG CABLES RESULT IN A &c AID.
VANCE IN CHICAGO.
Domestic News Was Bearish, hut 1t
Had Little EGect-COrn and
Oats Shared in the


Chicago. Nov. 10.-Every trace Of the
weakness which has prevailed in the wheat
market lately disappeared to-day. Strong
cables reports Of serious damage by
frost in Argentine caused a very substan-
tial opening advance, which was added to
later by the large export engagements. May
Closing at a &c advance. Corn was firm
and 3sM15c higher. Oats advanced &c. but
provisions dragged, and closed at small de-
clines.
Wheat started with a bulge Of 13sd1s4c
for May, opening prices in that option
ranging from SOlsc to 907sc, and a somewhat
excited demand existing at those figures.
at Liverpool, where dvances of from I'D
to per bushel were recorded before
trading om n,ns here. This, it was soon
patch to the London Times, stating that
the wheat and fax crops of Argentine had
fcrts Were made to discredit the frost
news. but it was too well authenticated to
he disbelieved. The only possible uncer-
tainty connected with the matter was as
TO the extent of the damage. and 1t gave a
scare to short sellers. The opening add
from people who considered the rise too
sharp and sudden to be maintained. Such
selling kept the price from getting higher
than it opened for about an hour, but all
the efforts of the heavier shorts who re-
fused to buy on the bulge, but dare do
Nothing to help depress it except in the
rlish more thai &c reaction from the high
est point of the opening range. The mar
back and forth between that price and
9G4c, but by noon was selling around Gle.
Oh Chiefly silnf in fes connect ion n With G GaS esariS Se.
ceipts. Chicago had 1W cars inspected into
store; against 40 a year ago. Minneapolis
corresponding day of 1896. The acceptances
from abroad of wheat offered by cable yes
terday and the day before resulted in the
largest C1lag afaHfad any cirniflr nrax.inr,c
time this season. That came to the
Strengthening of the market at such times
having some effect. Before the day was
done 1T was reported that lbs boatloads.
100000 bushels. had been sold for export.
closing at 90sd9lc..
Corn was. very firm. particularly SO for
as eiyta'er The out market nlrSe AZ Wn ne hae TaS pr hery
pally by the upturn in wheat. Cables were
up k41d. Receipts were light, $50 cars.
the opening advance. and the market eased
of a little under it. The close. however.
Sas strong TeG gt,a at ,, substantially y n tall top prices;
3casc to SGsc, closing at 30ssc.
Oats Were unusually active. The opening
was strong. following wheat and corn, and
good buying by commission houses adj
vanced prices NC. The advance was some
what curtailed by persistent selling on the
ances amounted to 10000 bushels. May
Provisions were a disappointment. scarce
~ maintaining themselves in spite of the
wheat strength and the practical ending of
the yellow fever scare. Prices at the OPEN
ing were slightly higher. but this was soon
lost. outlines and scattered liquidation
were the features. Yard prices were weak
and lower. At the close. January pork
was 2I4d5c lower at S.35dS.37R. January
lard a shade lower at S4.2712G4.30, and Jam
uary ribs 2iac lower at s4.35.
Estimated receipts Thursday: Wheat,
III cars; corn, 4S5 cars; oats, 800 cars; hogs,
IS 5000.