Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-01-14
LITTLE CHANGE In GRAIN.
PROVISIONS CLOSE ABOUT 2 1-2c BE-
Low WEDNESDAYS PRICES.
Wheat Follows Sharp Decline at Liv-
erpoOl From Heavy Argentine
Offerings, but ON
Buying by Letter.

Chicago, Jan. 13.-wheat to-day closed at
almost exactly yesterdays final figures.
Early weakness. caused by a sharp decline
at Liverpool. was overcome later by sup
port from the Letter crowd and covering
by shorts. Corn and oats, after dull ses-
siors, closed at substantially unchanged
prices. Provisions closed about nc lower
all around.
Weakness was again the most obtrusive
feature of the opening proceedings in the
wheat pit. May was for sale at from 909
sOlsc against sos d9OIkc at the close the day
before. There were substantial reasons
for the opening decline. The Liverpool
market was I'd lower to begin with. and
a little later still. before trading COM
menced here, the decline had deepened to
a loss of from 1kd to 1lHd per Genital. Paris
was likewise somewhat lower at the OPEN
ing. The Minneapolis and Duluth receipts
were 1872 cars, against S6 a week age. and
"a cars the corresponding day of the year
before. Chicago got 80 cars. against II last
year; three carloads only of to-day's Chi
cago receipts were of contract quality. The
explanation of the extreme weakness at
Liverpool was that Argentina was Offer
ing wheat very freely. London also cabled
that cargoes on passage were very weak.
A rise of &c a bushel that followed fifteen
minutes of free selling was partly due to
fear Of complications with Spain, arising
oul VI liz IiOllIlS Sdlu u DG prevailing III
Havana and which caused a few timid
shorts to cover. The, price of May de-
clined in a few minutes after the opening
in tone until 9Ossc was realized for one or
two 5000 bushel lots. Business was very
light, and for an hour or more the alter
ings at 90Ac. and buying at the same. The
closing quotations from foreign markets
gave Liverpool resting at from sd to Id
decline. Paris flour unchanged for jan
nary. and 10 cpnfimpS higher for March,
June; wheat. 10 confines lower for January,
and 10 confines higher for March-June.
bushels, against go. 200 bushels a year ago.
Shipments from Atlantic and Gulf ports
were equal in wheat and flour together to
32l, 600 bushels. The effect of the generally
discouraging news was that prices in the
afternoon began TO tend downward again
with buying uppor from only those who
Some Som buying Busf % orders Pae'f from 'h membeer nfe of the
bull clique changed the complexion of the
market in the last hour. May had pre-
viously declined to soc, but 1t was well sup
ported at that figure, not only by the
Letter crowd, but also by shorts. The mar
ket gradually rose to 90AsM90Ac. but react
ed to %Olsc a few minutes before the close.
and was at that figure when the session
ended.
Corn was firm in spite of the dullness of
trade and the early wheat weak mess There
was some country buying. sufficient to take
care of the offerings and buying by those
who had sold call and found the mar
ket against tnem was q factor later. The
range of prices was narrow. May ranged
from 29Ac to 2ShG29c. and closed a shade
higher at 29Isc.
The market for oats was very dull. There
was some tendency for a time toward cas-
mess. though for no well defined reason.
bal tbs sentiment was ultimately Quelled
by the influence of corn and wheat. There
was no important trading either way. May
ranged from 23Ec to 23ihG23ssc, and closed
unchanged at 23Ss G23@c.
The market for provisions was dull.
Prices were steadied early by the very
small hog receipts. but gradually weak
ened on increased offerings from local trad
ers by English houses. Figures showing n
heavy increase in packing for the week had
a bearish influence. AT the close May pork
was nc lower, at s9.49h: May lard, nc
at s4.7212. ~
Estimated receipts Friday: Wheat. 81
cars; corn. $40 cars: oats. 2O cars; hogs,