Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-12-24
ALL MARKETS STRONGER.
MAY WHEAT SELLS AT 94c, But
CLOSES 3-sc BELOW THAT.
Advance At Liverpool Gives Firmness
10 the Wheat Market Here-New
York Alone Exports 4OO,-
D

Chicago, Dec. 23.-Speculative markets
were all strong to-day. and more generally
active than yesterday, though in the end
wheat and oats were the only substantial
beneficiaries Of the Improvement. May
wheat closed Saac higher on buying, prin-
cipally by the Letter people. The news.
however. favored higher prices. Corn closed
a shade higher. Oats advanced l4ISsc, and
provisions closed unchanged to &c higher.
Apparently the principal reason for the
firmness with which wheat opened was the
strength shown by Liverpool in the face of
tie decline here yesterday, which was due,
II was claimed, TO apprehension over the
European political outlook. That market
showed AGasd advance at the opening here.
May started at g3Asd93lac, as compared with
yesterdays closing price of 2isd95 For a
moment or two the market hesitated, and
a few sales were made at !3l4d95Ssc. Then
a demand set in which,, with a decided
scarcity of offerings, really the feature OF
the early trading, caused AN advance which
carried the price up to s5Ad93;sc in a very
short time. 1t reacted someWha hat after
this time to 9ic. During the advance the
Letter buyers were on both sides OF the
market. but presumably bought considera-
bly, more than they sold. Northwest re-
c,ipts We're moderate. The number of car
leads reported at Minneapolis and Duluth
was 407, against 524 last week and 33s the
corresponding day of 1896. Chicago received
305 cars by rail. of which lOi Were contract.
Inspected into store from vessel. AGO bush
els No. / Northern spring. and from unli-
censed elevators $500 bushels and w car
leads of the same grade. The reduced mum,
with a week ago, confirmed the traders in
the bullishness with which they started the
market. New York, soon after the start,
rcported that foreigners were good buyers
Of December wheat in that market, and the
impression prevailed that the beginning had
been reached of another heightened period
so great a hurry last fall. FuGher strength
was impaired by the report in question.
for shipment to London of $4,000 bushels
Manitoba wheat at $40 per bushei I. O., D.
above the New York May price: The snip.
were equal to nearly 100000 bushels. which
was another reason for buying May wheat
here. The total of the export ~clearances OF
wheat and flour from Atlantic ports were
90. 600 bushels. The Continental markets
were, as a rule, steady. The December
deal was not seriously disturbed by the
selling of a few small lots for elevator con,
Germs. The momentary depression caused
by such selling was soon recovered from.
Tho dealing in May was somewhat more
active than it was the day before and the
strength more constant and lasting: Dur
ing the last hours trading offerings became
more liberal, resulting In a decline in
May to 93ssc. That was the price at the
close.
Corn was fairly active and at times was
strong. especially during the morning. A
good deal of the strength came from the
iirmness In wheat and oats. About the
middle of the session the market began to
NlelQ 10 some local StlllnS pressure dIlO 1T
the end the advance had practically dis
appeared. Elevator people We're the prin-
cipal sellers. May ranged from 29asd 1885,
TO 293sc, closing "a shade higher at 29iac.
Oats were strong. active and higher
throughout. though not all the advance
was held. There was quite a furry during
the morning. shorts covering freely. and
there being considerable buying. The con-
tinued urgent demand for shipping was a
factor. Market eased off a little later in the
session on realizing. May ranged from 23Isc
to 22ssa22Ac and closed i4d2sc higher at
&c.
For the greater part of the session pro-
visions were firm and higher and this not
withstanding the heavy hog receipts and
energetic Cudahy selling. This WAS espe-
cially true of pork. Market opened n lit
tie easier. but soon improved under a good
general demand. The advance in wheat
contributed 10 the strength. Later the mar
ket became dun and. with Increased offer
fngs: most of the advance was lost, the
market. however, closing steady. At the
close May pork was DC higher at sS.g1Is,
May lard unchanged at Si.12la and Nav
ribs unchanged at Si.57i..
Estimated receipts for Friday-Wheat, EGO
cars: corn, 35 ears: oats. go cars: hogs,
$1,000. ~