Kansas City daily journal., 1897-02-06
SUBSTANTIALLY UNCHANGED
WHEAT, AFTER FLUCTUATING
WIDELY, CLOSES AT 55 5-sc.
Sold ut 3-4c Advance for n Time, but
Realizing Carried Prices Down
Again-Corn, Oats and
Provisions Weak.

Chicago, Feb. 5.-Wheat after fiuctuating
all day over n 12sc range, closed at substan-
TALLY yesterdays final figures. 1t sold at
one time at a &c advance. but realizing
near the close carried prices down again.
Corn and oats were neglected, and closed
shade lower, the weakness being more
marked in oats than in corn. Provisions
were weak. and declined 21k971kc.
Wheat was subject at the opening to
much the same sort of influences as it was
Thursday morning. The Liverpool market
was rather disappointing because the ad-
vance was only I'D to begin with. Both
New York and Chicago house doing an ex-
port business reported that there had been
no foreign acceptances of wheat or corn
offers made to the United Kingdom and
Continent yesterday. The Northwestern
receipts were heavier which was an addi-
ticnal disappointment to the bulls at the
start, and still another disquieting circum-
stance was the falling snow at the time of
opening. The opening price for May was
from 75lzc to 75i2c against yesterdays clos
ing price of 75}4c. with Il sale or two as low
as 75lsc. 1t kept within the range of 75I&6D
75Ssc for about an hour, and then gradually
improved until it got to 76c. AT the latter
point it made 4 rapid squirt TO 76ssc and n
sale or two at 76I=c transpired during the
confusion incident to the quicllness of the
rise. The strength was brought about by
the report OF rams in the southwest, which
We're supposed TO have carried of the snow
protection and left the wheat plant exposed
10 injury from the cold wave which is said
10 be approaching that territory The later
cables were also said to be better. and the
clearances from the Seaboard showed up
generously, amounting to $4,000 bushels in
wheat and -four. Covering in this market
of St Louis shorts and the strength of the
st. Louis market We're no small factors in
Chicago received Il cars. against 100 on the
similar day of the previous year. Minneap-
oils and Duluth receipts were 299 cars, COM
pared with 1874 last week and 5S4 year ago.
After the market had touched 76Isc. a reac-
tion to 16c took place. This price was
maintained for some time. but during the
closing hour the tame closing cables. cou-
pied with the realizing. which gradually
assumedquit generous proportions. brought
about further reaction to 755sc. The clos
ing price was 75ss G75S+c.
A very small local business was done in
corn. The market was steady until the
close, when IL yielded Il trifie on account of
the softness of wheat. Fluctuations for
ths most part did not exceed 1-16c, though
widening out late in the session. Atlantic
port exports amounted to $4,000 bushels
May opened shade lower at 24Isd24I4c
sold sparingly at 2ilsd2f2sc closing at the
opening prices.s
ness for the most part being light and un-
interesting. The market weakened slightly
with the other cereals. May opened a shade
lower at I79sG17%4c, sold TO 175sc under some
short covering, then weakened to l7asc,
where II closed.
lower. The chief feature was the extra
heaviness of lard as compared with ribs
the former getting at one period OF the ses-
sion to Joe lower for May than the same
delivery of ribs. Liquidation. especially by
outsiders. was quite heavy during the
morning, but a. little better feeling devel-
oped near the close on covering by shorts.
At the close. May pork was 7lsc lower at
SI50a7.55. May lard about H2c lower at
S5Tig. and May ribs 2i2c lower at $S.S5.
Estimated receipts Saturday: Wheat. %
cars; corn, 702 cars; oats, 500 cars; hogs,
$4,000.