Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-01-21
ALL MARKETS STRONGER.
JULY WHEAT ADVANCES 1c TO
So 3-4c-MAY, OIL s-Sc.
= Argentine News Continues Bullish-
Liverpool Closes HiGher-Leiter
Buying Again a Factor fn
July Rise.

Chicago. Jan. 20.-An the grain and pro-
vision markets were strong to-day and
made additions to their former prices. The
feature in wheat was the strength shown
by the July option, which advanced a cent
under Letter buying and covering by shorts.
May closed at sc advance. Corn and oats
closed hc higher each. and provisions adj
vanced 5@20c.
In wheat, Liverpool prices showed about
sd advance at the opening here and this
marked showing of strength naturally had
great effect on the market here. May.
which closed yesterday at 91I4c, opened to-
day at 9lAa9l7sc. while July showed a still
greater advance, starting &G1sc higher, at
S3iz4S3&c. Trade was very slow for an
hour and a half and fluctuations during
that time were practically confined to the
But it improved later, especially in July.
The Liverpool advance was supposed to be
the result of less pressure from Argentine
to sell wheat. This theory was partially
confirmed by a cablegram stating that
S,50O.0W gold that had been ordered for
shipment from London to Argentina had
Ayres correspondent of a milwaukee, house
putting the eXportable surplus of Argentina
at 100000 bushels. London quoted the
price of Argentine wheat-Marc shipment
-33s Cd. which is Is above the price ii was
being offered at about a week ago or a rise
In that time equivalent to &c per bushei.
az S1NAPtS 81 oIN
were 37 cars, against 332 a week age and
252 the corresponding week of the year be-
fore. Chicago receipts were 30 cars. COM
pared with % a year age OF to-day's re-
ceiptS only two cars were contract. but
1900 bushels besides were put in store from
unlicensed warehouses. After II O'Clock the
trade took on some degree OF activity. May
in the meantime had risen to 92lsa92i4c.
TIL Letter party sold that future at over
sI5sc. but bought July. and as the price
of July has gone up pretty easily lately
the purchases OF Letter caused covering.
TIT consequence was an advance to S4l2c,
while May was hanging around s21sc. The
receipt of the closing cables showing weak
ness in the foreign markets in a measure
restored the confidence of the shorts and
induced them to again put out their lines.
and during the afternoon prices suffered
a considerable relapse. The Liverpool mar
ket closed with a net gain of from s4d to
sd: Paris at a loss of from 10 centimes to
20 centimes for flour. and 10 centimes TO Is
centimes for wheat: Antwerp lower by 20
centimes for red winter and l2ls centimes
bringing SSAc at the close.
Corn was an exceedingly narrow market.
with little response. The strength of
wheat and heavy seaboard exports kept
prices a little above yesterdays figures
dry. cold weather led TO expectations of in
creased farmers deliveries and caused
some selling. May ranged from 2sa2sisc
TO 275sc. and closed &c higher at &c.
The market for oats was quiet but firm.
The feature was the continued buying for
New York account. This and the strength
of wheat caused a slight advance in prices.
which was well maintained July was es-
pecially strong under fairly urgent commits
sion house buying. May ranged from 2S2.
G23;sc to 23ssd23Ac, and closed sc higher at
23@c.
Provisions were strong throughout. At
the start there was scarcely any trading,
though prices were a little higher. due
to the firm hog prices. AS the strength de-
veloped in wheat the short interest in pro-
visions began 10 cover and the demand
soon became quite active. prices advancing
rapidly. Some reaction followed on a fall
ing off in the demand. but prices recovered
later. Al the close, May pork was zoe high
err at 1910. May lard &c higher at a.iIie.
and May ribs 1isc higher at $4.S2is.
Estimated receipts Friday: Wheat, 81
cars: corn. S25 cars; oats. 2ao cars: hogs,
q 600.