Kansas City daily journal., 1897-02-09
LOSESAGOOD GAIN And MORE.
WHEAT lie LOWER, AFTER SELL
ING NEARLY 1c ABOVE SATURDAY.
HSorLd,s Visible the Cauxe of the Bull
ish FeeIIng-cOrn and Oats Rad
icaIIy Weak-PrOvisions
We're Firm.

Chicago. Feb. S.-Wheat to-day closed at
about &c decline, after having sold nearly
q cent above Saturdays close. Figures on
the worlds supply cut quite figure in
the days speculation. Corn and oats were
radically weak corn declining sc and oats
&c Provisions were firm, but show trlt-'
ling changes.
The news that traders in wheat had to-
start their operations on was not very en-
couraging for a bull market. Liverpool
was only I'D higher at the opening than
it closed Saturday. which was disappoint-'
ing. inasmuch as it was a. very inadequate.
response to Saturdays I&c advance here.
Beerbohm's report on the worlds clear
ances cf wheat and flour for last week..
which came before the opening, gave the
figures at G,SO0,0OO bushels, and the heavy
increase thus shown had a marked effect,
Minneapolis and Duluth receipts were not
encouraging by any means. the total Tor
the two places being 5n cars, against Al
last week and 655 on the corresponding
day of the year before. Those were the
circumstances under which May wheat;
which closed at 77c on Saturday, opened
to-day, with sellers at from 1850 down 10
7Gl2c. But the market became strong I'M
mediately after the opening. The early
figures on the worlds visible supply indi-
Gated very large decrease, so large, In
fact, that il made shorts scramble to cover
their lines. Holders of wheat were not
disposed to let go. the consequence being
that the price of May got up to IIasc be-
fore any material reaction occurred Mean
time the Atlantic port clearances were re-
ported at 1885, 600 bushels. A decline TO 1914
@767sc occurred when an increase in the
English visible was announced, but this
was quickly succeeded b. the advance to
T3sc, the high point of the day, which oc-
CURED on the posting of the worlds vis-
ible figures showing a total decrease Of
1.706,000 bushels. Then the decline COM
menced. slowly at first, but gaining mo-
mentum as the session drew to a close
1t was due almost entirely to realizing.
though this was accelerated by the world s
shipments, which last week were 100000
larger than the week before. New York
reported that foreigners had turned free
sellers there. May finally got down to 76lzc
and closed at 76lHd76ssc.
Corn maintained its price well until the
closing drop in wheat, but during the prog
ress of the latter il emulated wheat S
weakness and closed at a decline for the
day of &c per busheI in May. Receiving
houses were active sellers. The visible sup
ply increased 1884, 900 bushels. May opened
g shade lower at 2454c, sold at 2414I24Ssc
and declined to 237sd24c, where 1t closed.
Oats were quiet during the first part of
the session, but with tendency toward
firmness. Later. however, the market
turned very weak, partially through SYM
pathy with wheat and partly through lib
eral selling by the professional shorts A
heavy business was done at the decline.
May opened a shade lower at I75sG17%4c
sold at 1TSic and declined to I7I+c, estab-
fishing low point for the crop. May
closed ut INC.
Provisions were well sustained. a firm
hog market with comparatively light re-
ceipts giving tone TO the market. The clos
ing weakness in grain sliced off most of
the day slight advance, however. At the
close, May pork was about 2I2c higher at
S6j: May lard. 2Ihc higher at g. S2lb and
May ribs. 2lsc higher at 1921.
Estimated receipts Tuesday: Wheat, %
cars; corn, 24O cars; oats, 49O cars; hogs,
5000.