Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-01-04
GRAIN MARKETS ARE DULL.
PROVISIONS STRONG. 2 1-2c TO Toe
HIGHER-MAY PORK, 1892 IL.
Wheat Closes 4 to L 1-Sc, Corn 5-Sc
and Oats 1-4c Below Fridays
Prices-BiE Increase in
Visible Wheat.

Chicago, Jan. 3.-There was more interest
displayed in the annual board of trade
election which took place to-day than in
trading in any of the grain and provision
pits. Wheat was weak following statistic
al information of that tendency. and closed
1@1hc lower. Corn lost &c and oats IA
&C from their former prices. Provisions
were strong and 2lsa10c higher at the
close.
Wheat started easier and at lower prices,
May at 92c. which showed sc decline since
Friday. Liverpool showed I'D decline to
begin with and Northwest receipts did not
by any means suggest an immediate fall
ing off in volume. Those were the features
in the early news which apparently created
a desire to sell at the start. and also ex-
tinguished for the time being any inclina-
ton to buy. The result was that in the
first thirty minutes trading May declined to
BIC and even at that price showed very
little tendency to react for some time. Trad
ing at the best was rather slow, the inter-
est of traders being centered on the annual
election. Chicago receipts were liberal, and
the visible supply statement was expected
TO be an additional d~iscouraging factor.
The Minneapolis and Duluth receipts since
last Friday morning Were sl2 cars, against
1.6Ol for the similar time the week before,
and S4 cars the first Monday in %anuary
1877. Chicago received 2i3 cars, against 7S5
a week ago and 15 the corresponding day
Europe last week amounted to I,419.000
bushels, against 6.645. 600 bushels the week
before and 5.292, 600 bushels the correspond
ing week of last year. The quantity on
ocean passage was neither increased nor
decreased last week. New York reported
SOM foreign buying orders at the opening,
but not enough to lave an influence on
prices. There Were bids here also for No.
i Northern spring wheat for export, but
the holders of all of that description now
in Chicago held their property at prohibitive
prices. The visible supply statement was
even more bearish in its figures than had
been expected. The increase. instead Of be-
Ing about 10000 bushels as Iooked for,
was 100000 bushels making the total 3s.-
$1,000 bushels. A year ago the visible in
creased only a0S.0O bushels, but the total
was 54.65I. 600 bushels. About the only dis
tinctly bullish item in the days statistical
news was the clearances from Atlantic
and and flour to SCI. 900 bushels. OF that
New Orleans contributed in shape of flour,
300 barrels. The announcement of these
figures injected a little firmness into the
dropping market. and May. which in the
meantime. had dropped to Gle. reaching
mat hGnre about u o'clock. recovered slow
IN the last few minutes trading reacted, to
slL-fslsc. where is closed.
Torn was heavy at the start and became
sun weaker as the session progressed,
closing practically at bottom prices. The
downward tendency of wheat influenced il,
put The immens receipts. 9l3 cars, were in
the main responsible for the decline. There
was some country selling both through
receiving houses and elevator people. Buy
ing was scattered. May ranged from 2gssc
TO 29c and closed sc lower at 29G29IAc.
oats were weak all day. Longs and Gle
vator concerns were quite free sellers. The
heayy receipts. 500 cars. had a great deal
TO 90 with the liquidation, and sympathy
WITH wheat and corn was also evident.
There was some recovery from the hottom
on commission house buying. presumably
against sales of corn. May ranged from
&c to 23isI2SI4c, closing Ad3sc lower at
23hG23asc.
There was an active trade in provisions.
The market was decidedly strong and high
er at the start, due to the small hog re-
ceipts and higher yard prices. Local longs
ana packers sold freely ut the opening ad-
vance, and caused a considerable reaction.
but near the end there was an increase in
buying orders and prices took another up
turn. The market closed strong. May pork,
Joe higher at ss.32iz: May lard, TIC higher
at 80. and MAY ribs. &c higher at Si.12Is.
Estimated receipts Tuesday: Wheat. $50
cars: corn. iN5 cars; oats. 4E5 cars: hogs,