Kansas City journal., 1898-01-19
ANOTHER RISE In WHEAT.
CHANGE DUE MOSTLY TO REPORTS
FROM LIVERPOOL.
Poor Wheat Prospects in India and
Argentine Cause Sharp Advance
in English Markets-Other
Grains Down.

Chicago, Jan. 1s.-For the third day in
succession wheat was influenced almost
entirely by Liverpool. The sharp advance
in that market as a result of unfavorable
Argentine and India news caused an open
ing advance of 12c in May and that ad-
vance was also shown at the close. A
feature was the buying of July by the
bull clique brokers and an advance of 12c
in that option. Corn and oats were dull
: and closed a shade lower. provisions made
small advances and had the best trade in
week.
Wheat got a good send Off from the
early cable news. May was wanted at
from 9lss to 9l12c at the opening, against
901sM9lc at the close the previous day.
The Liverpool quotations were advanced
ed per Genital over night and the reason
given for it comprised several items of
considerable Importance. The poorer crop
prospects in India were mentioned as the
chief item. Heavy rains in Argentine were
reported to be unfavorable for wheat and
ID continent was said to be taking the
arrived cargoes off coast in the United
Kingdom. London quoted cargoes on pas
sage and of coast Sd to Cd higher. The
only discord in the foreign music was that
Paris reported centimes reduction in the
price of flour and 10 centimes in wheat.
Minneapolis and Duluth receipts We're $50
cars against S1S the week before and 26S
the similar day of 1897. Chicago got 63
cars, two of which were contract. Ad-
vices from the Northwest were to the ef-
feet that with splendid roads farmers were
delivering very little and country elevators
were being gradually emptied by the in
ducements being offered in the way of
premiums for cash wheat over futures.
Considerable activity was impaired to the
dealings in July by the buying Of that
future by Allen Grier against sales for
May. The operation was supposed to rep
of St. Louis SPECTATORS. July opened at
Sic and was advanced to S2Ac by the un-
did not get above SIssasis.c. dropped back
to 9lssc, while July was making the rise.
Bradstreets report of the worlds visible
made a decrease of 1.6Sl,0 bushels in
stocks East of the Rockies and 300. 600
bushels decrease in and afloat for Europe.
The, reduction on the corresponding day
of last year was 100000 bushels. The
market weakened on that showing of small
reduction in Europe, Notwithstanding the
diminishing worlds shipments during the
last few weeks. The Liverpool market
closed with some of its early advance wip-
ed out. and that also helped to undo the
bullish sentiment that had ruled the pro-
receipts We're 346.510 bushels, against 2O5,-
SSS bushels the year before. Atlantic sea-
equal to $4,000 bushels. July sold at S2lsc
at the close and May after dropping TO
slAc rallied and closed at a2sa9liac.
Corn was dull and prices late in the day
were inclined TO drag. The market early
was firm at a slight advance. due prin-
oipally to sympathy with wheat. The ex-
!ble increase. 2.2S7, 900 bushels, caused some
Gecline and the market closed weak. New
York reported a fair shipping demand.
May ranged from 29lsc TO 2Ssim2S3sc, and
closed lsc lower at 2Sa4G2S1sc.
Oats kept within n very narrow range.
The market was firm during the early
part of the session. but reacted later and
closed easy. sympathy with wheat and
The visible supply increase of $4,000 BUSH
els were factors. Elevator people We're
fair buyers of May, which ranged from 23S.
@23isc 10 23fsc, and closed a shade lower
al 25ssc.
A good trade was done in provisions, es-
pecially during the morning. a small run
OF hogs encouraged buyers and the higher
opening prices caused some covering by
heavy shorts. Packers were good buyers.
There was some decline from the high
POINTS on realizing but the close was
steady. May pork 5d1i2c higher at s945a
9.41is, May lard a shade higher at S4.15 and
May ribs 1i2c higher at A.15.
Estimated receipts Wednesday: Wheat
z. ears; corn. 2l5 cars; oats i60 cars; hogs,
TI,0eo.-