Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1899-01-05
"A SHARP ADVANCE is MADE
HEAVY EXPORT CLEARANCES A
FACTOR IN THE RISE.
Wheat Advanced Use, Corn Advanced
3-Sc, Oats Advanced Ito and
Provisions Did Not Change
Much in Price.

CHICAGO. Jan. 4.-Heavy export clear
ances. diminishing receipts. and predictions
of a cold wave caused a sharp advance to-
day In wheat. May closed with a gain Of
&c. Corn advanced sc and oats Nc. Pork
lest PIC. Lard advanced 2kc Ribs are un-
changed
The Liverpool wheat market was the
chief influence here at the start Cables
came Id lower for futures. Such apparent
eagerness abroad to emphasize the weak
ness in this market caused the selling out
of a heavy line of long wheat here. May
opened a fraction lower with sellers at
from 70Ac down to 70i2c. So much was for
sale that the price was forced down to v4c
before intending buyers could shout bids.
The Atlantic port c~learences. however. be-
gan TO have q bullish effect when Philadel-
phia reported $1,000 bushels of wheat and
-four shipped for export. When other sea-
board cities swelled the total exports for
twenty-four hours TO over 100000 bushels
the feeling of Spectators found expression
in a quick advance to 1lsc. Kansas City
wired that the days receipts there were
not sufficient for local milling requirements
and Minneapolis reported such urgency in
the demand for to-day's offerings of cash
wheat that the price was advanced to a
slight premium over the May delivery.
graded contract. Minneapolis and Duluth
reported 54 cars received. as compared
with S53 last year. The general response
10 inquiries concerning future country
movement of wheat in the Northwest was
tina it was likely to be still smaller in the
near future. Atlantic port ~clearances were
10000 bushels. Bradstreet's report Of the
changes of the week in the worlds visible
showed an increase of only 1900 bushels.
compared with five times more than that
q year ago. Reports of a cold wave from
the North, which. il was claimed, would
cause severe damage to the winter wheat,
had a strengthening influence. The mar
het then became very bullish. Shorts COW
cred freely and there was heavy buying for
the long account. which resulted in ad-
vancing May to lac. That was above
call price and realizing on privileges
caused a slight reaction near the end, May
Wet weather, which was considered likely
TO curtail receipts, strengthened corn. There
was also a good export demand. Prices
sagged a trile early on scattered selling
around to 3Ilsc, the oldtime bulls took a
hand and a quick rally followed. Receipts
were liberal, 1.o15 cars. May opened a frac-
ton higher at 3lAm313sc, sold sparingly at
S7hc. gradually rose TO 375sc. then reacted
to S7l2G37bsc at the close.
Oats ruled active and higher. The ad-
vance was due TO a good cash demand.
moderate receipts, unfavorable weather and
the advance in other grains. Receipts were
80 cars. May opened up a fraction at
27lsd21ssc, weakened to 27SG27!sc, advauced
to 2I7sc, and closed at 2I&c.
A disappointment heavy increase in the
stocks of hog products for December de-
pressed provisions early; At the resulting
decline. however, commission houses had
numerous buying orders and packers, who
were free sellers. turned buyers, the conse-
quence being a recovery of practically all
the decline. May pork opened 714a10c low
er at 1890. and advanced to s10.45: Nav
lard began 1oc down at s.. IS. and improved
TO S5.Sfilc. May ribs started 10c lower al
500. And rose TO s5.15.
Estimated receipts for Thursday: Wheat,
1I5 cars; corn. 415 cars; oats. l95 cars; hogs
81 on head