Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-07-07
CORN WAS In BIG DEMAND.
RESULT WAS A SHARP Bulge ~
CHICAGO PRICE.
Fears of Damage From Hot Winds
the Cause Of the StrenEth-AH
Other Markets We're Up
in sympathy.

Chicago. July Corn was pre-eminently
the market on change to-day. Fears of
damage from the prevailing hot winds
started a general buying movement and
resulted in an advance Of a full IL cents.
The remarkable squirt had more or less
influence on all the other markets. Wheat
improved &c; oats sc and provisions 2l29
IOc.
In wheat. cable advices were of the most
encouraging character to holders both from
the United Kingdom and Continent. Peo-
pie in the flour trade here also reported
their foreign news as more gratifying and
orders larger than for some time back.
These were the principal reasons for a
firm opening to the wheat market here.
The statistics of the week We're also favor
able to the bull side, although in some
respects less so than in the week before.
The worlds shipments Of wheat and Hour
to Europe last week were 6.Ole.0DU bushels,
against $4,000 bushels the previous week,
and t.265,OO0 bushels the corresponding
week of the year before. The amount of
wheat and -four on passage showed no
change for the week. The domestic Wis
ible decreased l.2ll.UO bushels, against 61l,-
600 bushels decrease the similar week of
last year. Wheat inspected into store in
Chicago since Saturday was seven cars and
1000 bushels were inspected out. Mime
apolis and Duluth reported receipts Of go
car loads since Friday, against $4,000 bush
els for the corresponding period Of the
year DtIOIts Inc Alldlllt port tADUfIS Ie-
ported to-day were equal in wheat and
flour to $4,000 bushels. Liverpool opened
I'D higher for September. and I'D higher
for July and closed with the advance
raised 20 1%d per entail for July ana sd
for September. Paris gained 30 confines
and Antwerp 1919 centiInes on provisions
quotations. The strength Of the foreign
markets was emphasized by buying orders
sent here from abroad for futures and
the taking for next months shipment from
New York of thirty boatlOads of new win
for u-hanH The Efnsr nj advance IN rnVFN vsA=
the feature during the closing hour. 1t
gave rise to fears that the dreaded hot
winds which were reported to be playing
havoc with the corn crop might have the
same effect on wheat. Septe mber opened
at 6ihsTGi4c. compared with last Fridays
closing prices Of 6il4H64Sc. II sold up to
6ia d6ifsc, gradually fell OF TO 6ii2c. then.
under the influence Of the corn advance. IL
advanced TO 65,sc. The closing price was
65iEc.
The corn pit was jammed with traders
all day who had heavy orders to execute.
and the market was the most active one
in months. Reports Of hot winds. and es-
pecially from Kansas. started the market
strong, but these reports in themselves
were hardly sufficient 10 account for the
strength. There seemed to be a universal
desire 10 buy. September Oppngd at from
2GI.c TO 2Gtac. compared with Friday's close
OF 2~o's12ir- II sold uD 10 26asC. ind then.
under a rush Of realizing orders. made
more urgent by denials Of the imputed in
jury reacted to 2ii4c. In the last hour the
market became excited again. and a perfect
food Of buying orders boosted" the price
10 2-iaH27ss". At the close. 21lsc was bid.
Local receipts since Saturday were 6l2
ears.
Oats Were firm, principally because of
the strength in corn. although some indie
pendent features Of strength were pres
ent. Shorts bought quite freely and 4 fair
" good business was done. The visible SIM
ply decreased 1900 and local stocks de-
creased 5000 bushels. which facts COM
hined to assist in the bullish sentiment.
Local receipts for two days were SIC cars.
September opened &c higher at 1fTsc. sold
on 10 lf7sdlT4c, then advanced to Isle.
where IL closed.
II provision market was the u~uietest in
the pit. The opening was strong and higher
IN sympathy with the firm hog market.
but offerings were 30 liberal that the adj
vance was soon lost. Later the market re-
covered again when corn made its final
jump. AT the close. September pork was
lOc higher at $50. September lard about
2i-c higher At A.17iqc bid. and September
ribs about 2izC higher at $50.
receipts Wednesday: Wheat II
22.ON0. NOsS'