Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-03-29
PRICES ON A PEACE BASIS.
EARLY WEAKNESS FOLLOWED By
A RALLY TOWARD THE CLOSE.
Oats Alone Fail to Close HiEher-Un.
expected Strength at Liverpool
and Adverse Weather Re.
ports Were Factors.

Chicago. March 2s.-The question Of peace or war
overshadowed all else on change to-day. Assump-
tions Of q peaceful solution Of the Cuban question re-
suited in sharp recoveres from early declines. and.
with the exception Of oats. everything closed strong
and higher. Wheat advanced &c for July and 1hc
for May. Corn closed Aahc higher. oats q shade
lower and provisions 2hdl2ac higher.
Wheat started with an appearance OF hrmness that
gave way almost Immediately to one of weakness.
There was a mild disposition shown At first to cover
short lines on account Of the low Temperatures pre-
vaiiing in the Northwest. Heavy rains were reported
over the winter whea. country. and fears Of further
damage by the cold. coupled with unexpected strength
Mt Liverpool. where some futures were I'D higher.
tant futures were concerned. at prices a shade better
than Saturdays closing. Smaller receipts in the
But the market turned weak at once. What little de-
mand there was from shorts had been soon satisfied,
and, as no other support of consequence materialized.
the decline for q few minutes was rapid, July selling
on from S3kGS3hc. its opening price. to s2Sc. Some
Liquidation was caused by the large worlds wheat
shipments, which amounted to 81 900 bushels. An
other source OF weakness was the large addition to
the contract stocks. Besides the "a cars received
] Northern were received from mixing houses. 4 tot ii
Of about 2o5. 900 bushels in all. Chicago receipts were
l2l cars. Northwest receipts were 3ss cars. asaIns,
1T5 cars last week and SI a year ago. After the de-.
cline TO s2tc in July there was q rally to s2Ic under
short time 70 ssse. and y held Sfi syoun sde iSst s asara n IN =
about II O'Clock. Then the market began to improve,
The decrease in the visible supply. 1.35s. 900 bushels,
-N' fNe'A ~ctN thoh a IoJkCu lOI- DuI eftIY-
thing else was lost sight Of in the consideration Of
the news relating to the crisis between the United
States and Spain. Reports that Spain had accented
suggestions of this government In regard TO Cuba and
the tone of the presidents message to congress start
ed n buying demand that increased in volume as the
session wore on. and did not cease until the closing
bell sounded. Shorts Of every description were driven
10 cover. and Investment buying. which has been al
most totally lacking for some time, was in evidence.
Half an hour from the close July had advanced to
s4isc. Realizing was quite heavy at this point, and
shortly. The close was strong at SIC bid. NAV was
traded In very little. 1t opened " lower at 81. O3,k
but advanced at once to sL04. and during the ACTIVITY
SI.05x. "
Corn was fairly active and firm with the execution n,
a short time after the opening. when some decline
took place, In sympathy with wheat. The rally In
wheat and the unfavorable character OF the weather
turned the market very strong later, shorts leading
me buying May ranged from 2Skc to 2skGssHc,
and closed Adsc higher at 2skc.
Oats were heavily raided during the morning nv
all classes OF longs. Liquidation was general and
prices broke sharply. The market reacted when the
turn came In wheat and corn. but the recovery was
only to previous prices. Shipping demand was allow
May ranged from 25kG 25nc to a4Sc, and closed =
shade lower at 25hd25kc.
Provisions, like everything else, were weak during
the first part OF the session. Heavy hog receipts and
talk of yellow fever possibilities in the South re-
suited In mild liquidation and a decline in prices
favorable Washington news and the rallies in grain
AT the close May pork was 12isc higher at So. So: NAV
lard 214c higher at s4.95. and May ribs Sc higher at
S5.02is. ~
Estimated receipts Tuesday: Wheat. 10 cars. corn
20 cars; oats. 800 cars: hogs, 10000.