Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-07-30
ALL MARKETS WERE STRONG
WHEAT CLOSES WITH A NET GAIN
FOR THE DAY OF L ii CENTS.
Foreign Markets Refused to Decline
in Sympathy With Wednesdays
Loss In ChicagO-COrn Gains
5-Sc and Oats Use.

Chicago. July 29.-Markets were generally
strong on the board Of trade to-day. Wheat
opened buoyant and. after an intervening
weak spell, closed nc higher. Corn gained
&c and oats. &c. Provisions were fairly
active and higher. Pork gained 12lzc, lard
l0c and ribs TIC.
Liverpool opened steady his morning in
the face of Chicago's decline the day be-
fore. That, with a continuation Of firm
ness at Paris and the large export pur-
chases at New York yesterday, swept away
the bearishness that had overcast the last
hour Of the previous session. September
opened at from 73i4c to 73sc, a rise Of about
lc per bushel. A good deal was offered
at the advance for a minute or two, but
about five minutes from the start, the
price touched 73lsc, sellers became scarce
all at once and the price was rushed up to
7sLgc. A cablegram from Paris estimated
that France would ave to import lO0,OO0,Og0
bushels of wheat this year: A New York
message was TO the erect that export tax
,ngs OF wheat yesterday would amount to
10000 bushels there and 200,00 bushels at
outports, meaning, probably Tor various
bushels No. 2 Kansas hard wheat for eN-
port was also made here yesterday after
noon. All those matters became known
shortly after the opening. and, taken al
together. appear quite sufficient to explain
the strength of the early trading.
Chicago receipts were 12 cars, OF which
1fs were new. The Minneapolis and Duluth
receipts were 33 cars, against 81 the year
before. The total receipts at primary mar
kets were $40. 900 bushels compared with
bs5. 900 bushels last year. The excess of the
primary market receipts is not very great
considering the estimated much larger crop
this year. but such preponderance as tnere
is this season is all the bears have to sell
wheat on. What good use they can make
of a poor weapon was seen in the decline
which occurred about an hour and a half
from the start. The price Of September
dropped at that period Of the session TO
72ssc. and July. which sold as high as Iic.
fell TO 757tc. The market was steadied at
the decline by New York kilograms saying
twenty-five bOatlOads offered to the Con-
tinent had been accepted st. LOUIS wired
10 the same effect, an export house there
reporting eleven accepted that they mad
offered to the Continent. Reports from the
Northwest were more hopeful about spring
wheat prospects. A message from North
Dakota said the water on the fields was
fast disappearing and the wheat prospects
improving. The Price Current estimated
the spring wheat crop at 225,cg0.O0 bushels
and the winter at 329.Oo.p0 bushels. making
A total of 550.O0o.00 bushels. New YORK IN
creased the quantity taken for export to
sixty boatlOads The buying fever broke
out afresh and the high price of the ses-
sion was paid near the close. An advance
of &c at St. louis and very bullish mes
sages from that point were being talked OF
during the closing squirt. September open
ed &c higher at 73l4c. sold at .3lzc. off to
use, rallied slowly TO 15@4c, closing at t52sc
Corn opened firm with wheat. but there
was an undercurrent OF confidence in pres
emf prices quite independent of the wheat
market. The crop is not making salts
factory progress in some important grow
ing sections. and II IS from those places
tina the kilograms referring TO the progress
Of the crop principally came. The Price
Current reported the general prospect un-
changed since a week ago. OF the KAN
sas crop, taken as "A whole. some well in
formed people believe II to be giving prom
Use Of as good an aggregate yield as on
the wear before. The receipts were Isl
cars and the quantity inspected out of store
5GS. 90 bushels. Export clearances from At
lartic ports were 334. G0 bushels. September
opened &c higher at 21sc and gradually
gained strength until IL reached 2ISsT2Ii=c-
Il fell back 1EHi4c from that point. but be
came stronger again with wheat near the
close. advancing to 21ssc and closing with
sellers at that.
The market for oats was without inn
portant features. Shorts bOught early and
helped the firm feeling which existed. SYM
pathy with corn, however, was the most
influential item. September opened I'M
changed al from Use 10 i1isH1t@sC. sold up
10 17htd1-Ac and closed at that price bid.
Receipts were $3 cars.
Provisions were firm on a very mod
crate amount Of trading September pork
opened at &.12ig. an advance Of 2i2d5C, and
later rose another BE- and near the close
added PIC more. The DAYS gain was Pic.
Si.2O being bid at the opening. Near the
end. Il rose to Si.25 and that was the clos
ing price. September ribs opened 2lyC high
er at S.62i2 bid. IT touched A.60T 1922 a
few moments later and after that rose to
S4.65. The closing price was Si61ia. the last
ei-c being added as the session was coming
20 an end.
Estimated receipts for tomorrow: Wheat.
26 cars corn, LIS cars; oats, $50 cars;
hogs, 2l0o0.