Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-05-14
ALL GRAIN PRICES HIGHER.
BIG SHIPMENTS OF WHEAT CAUSE
AN ADVANCE OF L I-Sc.
July Sold as High as - 7-Sc-Corn and
Oats Independently Strong and
Considerably Higher-PrO-
visions Gain a Trihe.

Chicago, May 13.-The scarcity of wheat
at the seaboards, as indicated by a big
premium which May was bringing at New
York. attracted considerable attention in
local market to-day and was one of the
reasons for the NC advance in July which
marked the days business. All other mar
kets felt the strength of wheat, corn ad-
vancing sc, oats Ad&sc and provisions
about PIC all around.
Wheat opened with seine disposition to
the crowd to buy at a slight advance over
yesterdays close, although no reason for
the strength was apparent unless it was
the influence of last nights strong curb.
This reason, although shadowy. was suf-
hcient to start July at a &c advance, 73izc,
and hoist it up to S&I73Ac. Then the
slump which was inevitable in view of the
nature of the early news, occurred, the
market sliding of by easy stages to 73c.
which marked the ebb of the tide for the
day. The bearish news consisted of a nd
opening decline at Liverpool and another
I'd decline later on. California kilograms
said that even if all the late sown wheat
was destroyed. the area left was practical
~ as large as the harvested acreage of
last year. Much needed rain was also re-
ported from various parts of the state.
Northwest receipts were liberal. the num-
Der of cars received at Minneapolis and
Duluth being 312 against 35s a week ago
and 263 last year. But the rest of the
news and statistics was bullish and was
Instrumental In changing the bearish feel
ing to a bullish one. Liverpool recovered
I'D of the decline before that market
closed and other Continental markets
showed good advances. New York wired
hat the engagements there and at out
ports yesterday aggregated 10000 bushels
and there had been rather free accept
ances to-day on last nights cable orders;
Boston and Baltimore also cleared freely
and 5000 bushels were reported taken here
for export. Predictions of frost for to-
night quickened the demand considerably.
The market showed decided strength dur
Ing the last hour. and as high as 747sc
thIrty-tive boatloads for export at New
York and difficulty there to get wheat to
deliver on May contracts. The closing
price was 141kc asked.
Corn was strong and fairly active. The
advance I'm wheat. small receipts and pre-
diCticns Of frost tonight in several West
ern states all had their effect in producing
the firmness which characterized the mar
ket throughout. May was particularly
strong. Exports amounted to 4S2, 900 BUSH
els July opened a shade lower, at 2kc,
sold at 2JG25lkc. then advanced to Nasc,
closing at 25lzd25%c.
In oats the working Of a big line for
shipment was the main cause for the firm
ness which existed. Trading was fairly
active, but principally of a s~calping ma
ture. Exports were 104.0 600 bushels. July
opened unchanged at lSlsc. sold between
1Sc and lSizc, closing at 1S2sG1Si2c.
OUTSIDE of some buying by packers. trad
ing i'm provisions was not very active. The
market. as a rule. was firm with wheat,
although exhibiting some opening weak
Fluctuations were confined to a narrow
range. At the close. July pork was PIC
higher. at S.61ia: July lard. PIC higher,
at $500, and July ribs, 2i2c higher. at $40.
cars; corn, l5 cars; oats, l60 cars; hogs.
- 600