Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-12-03
A DULL DAY IN GRAIN MARKET
ENTHUSIASM OF BULLS OVER
YESTERDAY WAS CURBED.
Wheat Lost Life in May and 5-Sc in
December-Corn and Oats Each
Lost About 1-Sc and Pro-
visions Closed Lower.

CHICAGO. Dec. 1.-The result of an ex-
ceedingly dull days trading in wheat was
a decline OF &c in May and kg5sc in De-
cember. Corn and oats each lost about &c.
Provisions closed slightly lower.
The early news concerning wheat rather
tended to curb the enthusiasm of the bulls
who looked forward to another day of
profit May started a shade higher at 664
Q66Ac. but there were plenty of small fry
sellers at those figures, and the price i'm
mediately dropped to 66Ssa66Ac. where it
hung for a time. In spite of the very SUBJ
stantial advance here yesterday, Liverpool
was only Slightly higher at the opening,
and all the advance was lost before trad
ing commence here. Northwest receipts
continued heavy, Minneapolis and Duluth
reporting 1.263 cars, compared with 1853 last
week and 759 a year ago. Chicago receipts
were 40 cars, three of contract grade. Sea-
board advices reported only a very moder-
ate business, but yesterdays big engage
ments served to steady the market in the
face of the early selling. When the scat
tered liquidation had ceased, prices improv-
ed. May advancing to 671sc. Selling against
calls. however, started it on the down
grade again. After IL o'clock the market
became excessively dull, and until the end
Of the session, prices fuctuated in a range
as narrow as that usually ruling in coarse
grains. Very little news of an influential
character was circulated, but the extreme
dullness was in itself against the market
and the tendency was in the main down.
ward. A midday weakness In corn was the
incentive for a little selling, as was also
some favorable Argentine crop news. Pri-
. mary receipts were 1.2i.0oO bushels. Allan
tic port clearances Of wheat and flour
amounted to $4,000 bushels. Indications
were for an increase of 100000 to 100000
in the visible. Very little was done in De-
cember. but that option was much weaker
than May, SO much so in fact that IT in
fluenced the latter option. Leading COM
close. May declined to 66EsN6Gkc and closed
at 66iSc bid. December opened at &c, sold
as high as 66Ac and declined TO 651sc, where
IL closed.
Corn was firm early, but reacted and
closed weak. The seaboard reported a big
export demand over 100 loads sold, and on
this account prices advanced somewhat.
But country advices suggested a heavier
movement and cables Were dull and lower.
A tendency to liquidate ultimately became
general, one firm alone letting go over
100000 bushels. Receipts were 1853 cars.
May ranged from 3fkc TO Siac and closed
Oats seemed entirely dependent on wheat
and corn, and prices averaged over. Bus
fness was very moderate in volume and the
price range narrow. Leading longs were
demand. Receipts We're 800 cars. May
ranged from 26tsc to &c, and closed hsa14c
lower at 26ssI26Ac-
Provisions were fairly active and in the
lower. Hog receipts were heavy and pack
ers sold more freely, which depressed prices
carly in the session. The buying demand
was good, however, and more general. Pro-
yfsen stocks showed decreases which help
ed the market. At the close January pork
was PIC lower at 1926: January lard a
shade lower at S.12kG5.15, and January
ribs kd5 lower at s4.65.
receipts Saturday: Wheat, 100
cars: corn. AIS cars; oats, 300 cars; hogs.
$500 head