Kansas City journal., 1898-01-18
WHEAT FIRM And HIGHER.
CORN LOWER-OATS AND PROvIs.
IONS ADVANCE SLIGHTLY.
In Visible Supply and Argentine
RumOrs Help the Wheat
Market.

Chicago, Jan. I.-Wheat, though dull.
was firm all through to-day's session. and
showed asdl2c advance at the close Firm
ness at Liverpool. a large visible decrease
and growing disbelief in a large Argen-
tine exportable surplus, all contributed to
the strength. Corn was weak and closed q
shade lower. Oats showed a slight closing
advance, and provisions left off unchanged
to sc higher.
Influential news of any kind was scarce
at the opening in wheat. The unexpected
firmness developed at Liverpool was the
most prominent feature. The course of that
market attracted a great deal of atten-
ton, and was directly the cause of the
opening advance here, and a fruitful source
of comfort TO the bulls throughout the ses-
sc prices for Nay ranged
price of 90I2c. A little realizing by scalp
ers caused q momentary drop to 91ss a903. C,
Then moderate but steady buying carried
the price slowly upward and about noon
el1sc was bid. Liverpool showed from ssd
TO Id advance at the opening here, al
though 1t had started at a slight decline,
and that price was. in the main, held to
the close. A New York house reported bids
Antwerp. Belgium, for wheat at prices 2
cents above what they We're willing to pay
few . days ago. "a ARGENTINE wheat is
and it was inferred that offers from the
South American country were falling off.
That was given as the explanation of the
strength at Liverpool also. Receipts al
cars. against 534 Monday previous and 313
a year ago; Chicago received 2s cars. only
three of which We're contract. The visible
decreased / OBS 900 bushels, leaving the total
at 37.SSs000 bushels. against 1,4l3,0oO bushels
decrease. and a total of 52,459.OO0 bushels
at the similar time last year. The big
decrease lent additional strength, to the
n...rt Worlds shipments of wheat and
flour last week were officially reported at
100000 bushels, without any from Indiana
The previous weekly receipts were 4,S5O.0o1
bushels, and year ago 4,1S2. 900 bushels.
The days domestic exports of wheat and
flour from Atlantic ports euualed 800, ,000
bushels. The Indiana state crop report was
trading little realizing was done, sufficient
TO cause reaction to 997sd91c, the mar
ket closing steady. at that price.
Corn was very dull. The market during
sympathy with wheat. Later in the session
moderate selling pressure developed. and In
the almost total absence of support, prices
were easily depressed. The close was
weak. May ranged from 29Isc to 2S3sc, and
closed a shade lower at 2s7sd29c.
Oats were fairly active for while after
buying chiefly influenced by the wheat firm
ness. There was a good demand for New
York account. The market became, quite
da toward the Close ,ra but prices held
and closed a shade higher at 235scG2Ss4c.
Trading in provisions was of moderate
volume, and mostly at an advance. Cudahy
was good buyer during the morning. and
this and few outside orders caused some
advance. Realizing was quite free later and
a reaction took place. AT the close May
changed at s4.75, and May ribs, 2llsc highe,
at $40
Estimated receipts, Tuesday: Wheat. 81
cars; corn, 44o cars; oats, 265 cars: hogs