Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-01-11
DECLINE In ALL MARKETS.
FOREIGN WHEAT LOWER, MARKET
HEAVY, MAY CLOSES 90 LIZ
Other Closing Prices: Corn, zoe,
Oats, 23 lie; Pork, 1892 1-2c-
Russian Wheat Crop 3d.
OOO,OOO Bushels Short.

Chicago, Jan. 10.-HeayinesS character
lied all the grain and provision markets
to-day, Wheat was affected most by the
weak cables and closed sc lower than the
final figures of Saturday Corn declined 4
Csc. Oats closed sc lower and provisions
registered declines ranging from TIC 10
10c.
!. Wheat opened weak at from 13c to &c
below Saturdays closing prices. 1t held
fairly firm during the greater part OF the
forenoon at about the starting price. First
trades for May delivery were made at
from 907sc to 90Zc. as against s1asc at the
close Saturday. The range from that time
up to the publication of the visible supply
statement was from &c down to 30ssc.
The visible showed only 5000 bushels in
crease. and as high as 100000 bushels
having been mentioned as not an improb-
able quantity for its increase. some GUY
ing was induced by IL, but it was too linn
TIED to have any material effect. The
early drop in prices was due primarily TO
a I'D decline at Liverpool and slightly
easier quotations from Paris: helped also
heavier than could be regarded hopefully
by the bulls. Minneapolis and Duluth re-
corresponding day of est year. Chicago
received forty cars, compared with twenty
a year age. OF to-day's inspection only
four were contract. Worlds shipments TO
Europe were officially reported at 4.Si9, 900
bushels, but the comparative smallness OF
the figures evidently had no effect on the
foreign markets. II, however, caused May
to rally to 9lq9lbc, from around SOssc. but
the market slowly sagged again. A Liv-
erpool Corn Trade News cablegram said
that an official Russian report made wheat
show a deficiency of 5000, 600 bushels, COM
pared with the previous years crop; rye,
Us. 100000 bushels shortage. and oats. lO4.-
000.00 bushels. That, great deficiency in
production of the country which, after the
United States, produces more grain for ex-
port than any other in the world. pro-
duced scarcely a ripple of curiosity here.
equal to 800. 600 bushels. The English Wis
ible supply decreased 215, 900 bushels. The
total United Kingdom stocks at the prin;
since they We're previously made up. Oc-
tober j, an increase of i0.000 bushels of
wheat and 81 200 sacks of flour. The clos
ing quotations in foreign markets suggest
ed greater heaviness than there was any
visible reason for at this distance. Liver
pool closed at n decline for the day of
from I'D to Id: Paris from so to co confines
lower for flour and % confines to 20 CEN
times down for wheat. The market became
quite weak toward the end. Up to within
around SO3sc. but the weak closing cables
caused renewed selling. which. coming on
an unwilling market, caused a further
break TO s02sc. May was offered at 9Olac
at the close.
Corn was very slow. 1t was also weak
without any fresh reason; being in sym.
i"f's '' ~ N'>
only reason for the decline. Elevator peo'
pie were moderate sellers. Buying was
scattered and unimportant. Prices ranged
from 2s4c to 29c. and closed I4Q3sc lower
at 29c.
Oats were weak from the start. TIL
feature was the Unexpectedly large in
crease in the visible. ABS. 900 bushels. due
TO the arrival at the seaboard of oat!
started East in December. The visible fig
ures caused general selling. in which out
siders participated, but the liquidation
ceased when the explanation of the in
crease was given. May ranged from 2SI4,
to 2Si2c. and closed 9sc lower at 25isc.
Provisions were dull and heavy. LIB
eral receipts of hogs started the marke
weak. Little support was given the mar
ket either by local packers or from thu
outside. and selling by commission house
and scalpers easily pressed prices further
down. At the close May pork was 10
lower at s9.32ia, May lard 10c lower a
$3.50. and May ribs 1isc lower at s4.67is.
Estimated receipts Tuesday: Wheat. I
cars: corn. 500 cars; oats. 4S5 cars; hogs
5000.