Kansas City journal., 1897-11-13
WHEAT PRICES IRREGULAR.
MAY OPTION CLOSES 1-2c LOWER
AND DECEMBER 3-sc HIGHER.
Weak Opening, Succeeded by Strength
and Activity at the ClOse-COrn
Shade Lowcr-Oats Up
q Trfde.

Chicago. Nov. 12.-Wheat started weak
to-day, but closed with an appearance OF
strength and activity; May 1sc lower and
December sc higher. The December option
was helped by the fact that some of the
Duluth wheat being shipped here Is missing
Grade. Reports that farmers deliveries in
the Northwest were falling off was the
bull factor in May toward the close. Corn
closed a shade lower and oats hc higher.
Provisions were weak and closed 6g7l4c
lower.
Wheat started with sellers of May at
Sic down to 9o%c and very little changed
hands at over 9Osc, compared with yester-
days closing price of 91hc. The failure Of
the Liverpool market TO respond to the
bullish tone with which this market closed
the day before was chiefly responsible for
but hGkd advance. and had even lost this
by the time trading commenced here:
Northwest receipts were large. compared
Duluth reporting 81 cars. against s49 a
week ago and 45 last year. Chicago got
81 cars to-day, IA a week ago and ~ the
wired shortly after the opening that they
had selling orders there from the Conti-
nent for December wheat, but other New
York messages said private cablegrams
from the Continent were firm in their tone.
The price gradually sank and touched 90ac
before it had over 1sc rally. 1t did. how
without receiving anything strikingiy en-
couraging in the way of additional infor-
nation. The Atlantic and Gulf ports re-
turned clearances for the day of $4,000
bushels Of wheat and flour together. The
total receipts for the day at primary West
ern markets amounted to 1.052. 600 bushels,
asas Mss, tb ago es
expected to show an increase Of 100000
bushels, and Duluth an increase Of 100000
bushels The general guesses here on the
vic ror frnyr
100000 bushels to 25o0,0O0 bushels increase.
The weekly review OF the situation by the
tip that preceded its details that 1t would
be bullish In tone, buying started that put
the price from 90ac to 9lAc. After re-
ceipt OF the Modern Miller report, the price
sagged back to 9olac, but after the end of
the session assurances from most reliable
sources in the Northwest were received to
the effect that there was a marked falling
OF In farmers deliveries and they were to-
day not over half what they were a week
ago. That Information and the fact that
some OF the Duluth wheat which had been
shipped here lately is missing 4 grade
caused sudden revival of the markets
previously waning strength. December.
VIII which was hanging neglectedly around
93izc responded to the bidding for limit
ed quantity by a sudden squirt to 9i9sc and
May. from 90l2c, rose to Gle. Closing trades
We're at s4kc for December, and Sos.c for
Corn was weak during the morning,
lmarsely through sympathy with wheat.
lnere was some selling OF December by
elevator people, which resulted in a slight
widening of the spread. Later in the day
the market was supported by the urgency
of the shipping demand, one cargo selling
&c over December. Gables We're Ad3sd
higher. Receipts were 312 cars May rang
ed between 3ossc and Soc. and closed q
shade lower Mt BOZ q3oHc.
During most Of the session oats were
dull and easier. in sympathy with wheat
and cornf The Corn Trade News cable
reporting Russian oats poor and an ad-
vance at New York started shorts to COW
ering. and considerable outside support also
developed which put prices fractionaIIy
above yesterdays close. Cash department
was firm and sales at slightly better
prices. Receipts were 264 cars Mayrang-
ed between 2elsc and 213sc. closing &c high
er at 22ltc. '
Provisions were decidedly dull and weak.
Prices were Slightly higher at the opening.
on account of the higher prices of hogs
There were moderate offerings at the ai
vance. but the market was too narrow to
take care even OF this and prices SLOWLY
declined. At the close, January pork was
5aitsc lower at ss.35; January lard sIsc
lower at N.sc1zq4.a5. and January ribs Sc
lower at N.32tsm4S5
Estimated receipts Saturday: Wheat, IS
10000. Aoss'