Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-12-07
WHEAT GOES DOWN AGAIN.
HEAVY RECEIPTS AND INCREASE IN
VISIBLE FAVOR LOWER PRICES.
America Furnished Three-ffths Of
the Worlds let Exports Last
week-Corn and Oats I'm
changed-PrOvisiOns Up.

Chicago. Dec. 6.-AH the grain and pro.
vision markets We're quiet and compare
lively narrow to-day. May wheat opened
lower and advanced, but broke badly on
very liberal seeding estimates. and closed
&c lower. Most of the statistical news IA
yored lower prices. Corn and pats were
unchanged at the close, While proVlslohs
showed small advances.
At the opening, and for a short time
after. wheat was in a weak condition.
Opening at SSAdS9sc, as compared with
Saturdays closing price of Ssl8c, is sold
of slowly under fairly liberal offerings, TO
SS5sc. Early news almost altogether raw
ored sellers. Liverpool, which opened Ad
lower. showed A@12c declines at 1:So p. m.
Worlds shipments were very large.
amounting to $685. 900 bushels, fully .Jo,VV
bushels more than expected, though all
the increase was from America In the
lest twenty-five weeks America has fur
nished three-fifths of all the wheat shipped
nv exporting countries. The trade was
also figuring on a visible increase of Joo,vVV
bushels, against a decrease ., w aSIp was
added to by the liberal Northwest re-
ceipts," Minneapolis and Duluth Reporting
and OaS a year ago. Chicago receipts We're
PSI cars. After the market had dlpped 10
SSssc. however, there was q quick raiiy. Oh
covering by shorts. and the market % %ean
TO Sei.c without much effort. 1t had peei
expected that in case of a break below
Sc a big line of long stuff would come OUT
hut I'm this the crowd was disappointed.
The visible showed a larger increase tnah
expected, a~ggregating 1,lssoSo ouSneis,
bringing the total stocks TO S Il q ~, phs
els. A year ago they were 56.3lZ;oW pusfeis.
Rut so firm was the market that the ex-
cessiye increase fell fiat, SO far as anec..
ing prices was eoncerne S f Ims abrr uluth, 81
cars by rail, and the reinspecnon OF -
cars from private TO public eIesa.o ~ an an
of contract grades. Tid not aamP pm Massage
Increased 1.6s0.6O bushels. bringing me i
amount to g, 800. 900 bushels; n year ago IL
WAS - O'clock May sold as high as ss%c.
the market being helped a great deai ~ ps
rallies at New York and ST. LOUIS. Inc
market held very steady at that price loI
some time. became suddenly weak and
dropped to ssS4c. This was due 10 Tue
Orange Judd Farmer report. when gave
the area Of winter wheat sOwn d in n 1ss7.
although the condition OF the plant WIS
put at only 81 per cent. There WAS an
realize on their purchases. but a lack OF
srIpporting orders, either from outside or
in. rendered this difficult. and the decline
to sss4c resulted. Just at the ei1se an er
hut 96c had to be paid, a cent above sat
rrday's close. May closed nervous at SS.sc.
There was not much done in corn. The
market opened a shade lower with wheat
hut became steady after further slight de-
cline. and held well throughout the SEES
sion. Notwithstanding the break in wheat,
closing at nearly the top price OF the day.
THE trade was almost entirely professional.
Receipts were ga cars. Liverpool was ga
ad lower. The large out Inspection, l2s6,-
nN bushels. and liberal shipments. Soi.VN
bushels, had a strengthening tendency,
Nav ranged from 2Sssc to 2S4I2s:sc, and
closed at 2Si.c.
The market for oats was a very mar
row one. with small offerings and equally
restricted demand. The market was weaR
early in the day, following the cut OF
wheat. but soon steadied. As in corn
trade was almost altogether professional
Receipts were 59 cars. The visible supply
showed an increase of POI 900 bushels, and
local stocks increased 5000 bushels. May
ranged from 22d22isc TO H3sc, closing un'
changed. at 22q22hc.
Provisions ruled strong and higher on
moderate amount of business. Receipt.
OF hogs were 5000 less than expected. and
the market was influenced by that, prin'
cipally. Shorts We're a little anxious about
outstanding contracts. and purchased &c
some extent. Part of the advance wa
lost on selling by Cudahy's brokers. bul
the close was steady. January pork, 81
higher, at ss.22;.; January lard. 2lsc high
er, at $3.50. and January ribs, 2isc higher
at s4.25.
Estimated receipts Tuesday: Wheat. e1
cars: corn. co cars; oats. $50 cars; hogs
&, 600 head.