Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-08-14
REACTION In WHEAT MARKET
REALIZING SENDS PRICES DOWN IN
CHICAGO.
Cables Failed to Respond to Thurs
days Rise H~ere-COrn strong and
Closed UnchanGed-Oats
on a Little.

Chicago, Aug. 13.-Selling to secure profits
caused a setback in the grain markets to-
day. Wheat for September closed 15sc low
er. The cash demand fell Off perceptibly,
and cables failed to respond to yesterdays
advance here. Corn advanced early, but
closed on a reaction and unchanged. Oats
lost &c. Provisions We're fairly active.
Pork gained 1Oc, lard sc and ribs nc.
Wheat opened at not far from the prices
current at the end of the previous session,
and for an hour the range of fluctuations
in the leading future was confined to lc
per bUshel. a very different state of affairs
from the first hours violent eccentricities
on the day before. The foreign markets
we're less excited than they were yesterday,
wI,h some disposition to weakness. At
the opening. Liverpool quoted a rise OF
Id, but. while the next dispatch from there
showed a further slight gain, the latest
prices were at a slight reduction from the
first. Paris was 30 centimes lower at the
opening and Berlin the equivalent of &c per
bushel over. Cash wheat was offered here
at less premium than was offered for IL
during the previous two days. September
rallied early to Sl@c. declined to &c, rallied
again to S3izc. and then turned very weak.
stopping only at size. a &c decline from
the high price of yesterday. 1t recovered
again by u O'Clock to around Si4c. where
it hung listlessly and without much bust
ness passing for half an hour. The lower
quotations from Paris were made much
Of by the bears. Antwerp was unchanged.
and Liverpool closed from Id to I'd higher
for cash wheat than it did yesterday. and
24d higher for September. The decline
which took Septpmber to Size was helped
along by A break in prices at st. Louis dur
ing its progress. Minneapolis and Duluth
stocks of wheat were reported to indicate
a reduction for the week Of 100000 bushels,
and as Chicago stocks would show about
I000.00 buShelS decrease. the visible supply
ought to show something like 100000 bush
els decrease. allowing Tor some increase
at the seabOard. Chicago receipts were l39
cars. and 1e were the receipts the cor
responding day the year before. The guam
tity inspected out of stor" was IU.0OO bush
els. Minneapolis and Duluth received 2N
cars. against 40 a year ago. The seaboard
ciearanCes of wheat and -four from Allan
tie ports were equal to $4,000 bushels, 900
bushels NJ & being IN the shape OF wheat
fro(2, Sewport News. The reaction from
We hrht decline to size carried the price
lack to S25c. but the market weakened
again On renewed liquidation and sold off
ranidIv 10 SQ7sc. recovering to SI&C on
shorts covering. December averaging a dis
count Of sc. September opened LH2sc low
er at S24dS27sc. sold between Si2c and S05sc,
closing at N2sHSleC. a net loss Of lssc.
Tho early dealings in corn did not SYM
pathize with the weakness in wheat. Fears
Of early frost were evident I'm the minds
Of late bull leaders in wheat. and they
took about 100000 bushels during the first
hour. The days receipts were rs cars,
and seaboard clearances footed up 536.OO
bushels. The decline in the price of wheat
began TO have more effect toward the end
OF the session. and lowest prices were pre-.
Ndlllng IN Inc last twenty minutes sep
tomber opened &c higher at 2SlsC. sold at
DC. recovered to 2Sigc. then gradually down
10 277sc. closing at 277sG2Sc.
Oats were active and firm early. but
Lroke with the other cereals toward the
end. Receipts were $40 cars. September
opened a shade lower at 17TC. sold between
Tic and 1Sc. closing at l1izMl1Ssc. sellers.
Provisions ruled firm and trading was
fairly active. The cash demand was strong
er than for a long time. Hog receipts were
only 14.O0. Packers did some selling at the
advance. September pork opened 80 higher
at S.a0TTss. sold between $50 and $50.
closing at $500. September lard opened SC
higher at 8. 40. sold between A.31lz and S44j,
closing at $40. September ribs ODened sc
higher at 4.S7iz. advanced 10 A-s2Iz. clos
ny at $3.50.
Estimated receipts Saturday-Wheat. 800
cars: corn. l.005 cars: oats, 200 cars: hogs.
1L.O0.