Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-03-08
War NEWS AFFECTS MARKET,
DECLINE AND WEAKNESS IN PRO-
VISIONS AND GRAINS.
September and December Wheat,
However, Advance ON Buying BY
Letter, Following Bad
Crop Reports

Chicago. March NEARBY futures in wheat vere
Affected to-day by the Cuban developments princi-
paily. and closed weak at &c decline for July and q
cent lower for May. Far-on futures, however, were
strong on Letter buying and bad Illinois and Missouri
crop reports. September and December wheat closed
ABOUT INC higher than their former prices. Corn felt
the war scare and declined &c. Oats closed a shade
lower. Provisions were affected by the grain weak
ness. and showed closing declines of from 21sc to 15c.
A good deal OF nervousness was shown a. the OPEN
Ing in wheat. The start was lower. July at SOLO
soAsc showing an initial kGSc decline, while May
was nc lower at slo5h. For the moment traders fell
unoef the innuence OF the grave condition Of Affairs
between the United States and Spain and the biz
break In the London and New York stock markets.
Inc eject OF this was in . measure counteracted by
the new complications between Russia and England.
and prices rallied for a few minutes, July getting up
two foreign nations almost almost Invariably have =
favorable effect on the local wheat market, and TO-DAY
stopped for the time being, was, however. soon no,
newed. The news from Washington was Of too grave
all the ordinary news OF the day was Of an execution.
ally bearish nature. Northwest receipts were very
compared with 362 last week and asa a wear sso The
~orIds shipments were large. amounting to 7,254, 900
1.6sO.oo bushels. A Significant factor in ths xorid %
shipments was the big Russian movement. nearly Ave
were los cars Letter brokers gave the marie, soms
support at hrst. but soon withdrew, and the market
ana grew quite dull. July finally sold down to s0c.
and May to sL04ls. About midday a new feature 4 a
'eiopeo IN the buying by Letter of the September
ana december futures. Shorts hardly understood This
at first, but when buying orders OF those deIirerias
we're received from st. Louis. accompanied by reports
oI very poor condition Of the wheat plant in uIinoIs
ana missouri. the crowd came into the market Enr
a time the September and December prices shouad o..
AaNahee, and the strength was in q measure commu-
hlcated TO the nearby futures. July rallyine to e0isc
ana NAY TO sioi*. The very boIdness of the Letter
operations IN the face Of what was considered = na,-
orally beartsh market startled shorts into oovernr
ana gave the market for a time 4 good deaI ..
strength Toward the close all the futures drnoned =
iIttIe' ana At the end the market was quite irrepuIar.
July closed &c lower at 90Ac. and Nav lie lover =;
sLo4S. september and December. on the other hand
December at TIC. S~e ana
Corn vas fairly active and easy. The cuh.n %.
,eNs ana the weakness in wheat induced moro or
Iess hquidation by holders. Scalpers were the nr;n-
Ipai puyefs, working the market both WAYS. Prices
tenoeo DOWNWARD until near the close. when cover
ing causes q slight improvement in yaIues Msv
nG30 io"er II
Inc market for oats was slow, with very I,t,is
trade either way. The feeling was Influenced hv
lhe tone OF other grain markets. but trade was too
marrow 70 admit OF any material decline. It was
merely an unimportant scalping market. Nav ranged
26& @261c. ~ ''"ef NJ
Provisions were weak. after q little monetary firm.
ness AT the start, caused by higher hog prices. IN.
Innuence Oh lower stock and grain markets was soon
SHOWN IN the increased pressure TO sell from the
outside and from local holders. and prices eradu-
sny declined. AZ inside prices there was a better
demand. principally from shorts, and the close was
steady at some recovery. May pork closed I5c low
er at s1o.25: May lard 2kc lower n 81. I2x ana %.v
ribs Sc lower At IS. 10. '
Estimated receipts Tuesday: Wheat. n e.r..
corn 1o cara; oats. 800 cars; hogs. 1900.