The St. Louis Republic., 1900-09-15
LIQUIDATION CAUSED
REACTION IN WHEAT.
MARKET CLOSED LOWER IN
CHICAGO.
Corn Declined Slightly-Oats I'm
changed-Hogs Too Plentiful for
Strength in Provisions.
EEpEEILc SPECIAL.

| REPUBLIC SPECIAL.
| Chicago. H., Sept. I4-The longs in the
wheat marke. had tempting profit i'll yes
| terdar's purchases when ii opened this
morning, and did not allow n good thing
| TO pass. Liquidation so induced brought
| about reaction, which left the price 3sc
| lower than 1t opened, and asdi2c below yes
| ierday's final figures. Corn and oats moved
! u trii!e up or down as wheat changed
front. and closed sc lower for the one and
unchanged for the other. Hogs were too
plentiful FOR strength in provisions.
Wheat.
Wheat opened strong ut from &c to &c
| higher than it closed Thursday, receiving
the necessary stimulus to such course
from the firniness of the Liverpool market.
which cabled practical Endorsement Of the
streRsth that Prevailed the day before. New
York dispatches received here prior to the
commencement OF the session We're In line
with the suggestions of the higher Liver
pool quotations. stating that good many
| foreign buying orders were in hand there
for execution at the opening. Private Liver
pool cablegrams received in Chicago re-
ported a brisk demand for wheat at full
prices, and the demand at which Liverpool
started was I'D each for both futures and
spot wheat. even Id over yesterdays price
being quoted for No. l Northern spring
wheat arrived. The receipts at Chicago were
40 cars less than estimated yesterday, the
number being 2i6, of which only II were
contract. The Northwestern receipts were
again Very light. in comparison with those
OF the similar day last year, Duluth show
ing a. before. the most marked deficiency.
Minneapolis got 10l cars and Duluth lbs. or
90 luSeth"r, compared with LUZ at both
places a year ago, $40 cars of last year
arrivals having been a; Duluth. OF the l6s
cars received at the latter city to-day only
- cars were contract. and bS on account
Of their damp condition, were inspected no
grade. Argentine shipped 4y6,Vvo bu. during
the week, and, although That iS 35b,Vo bu
more than was shipped the previous week,
the toia! was not large. and was Si4.yo bu;
less than shipped the corresponding day OF
the year preceding.
Some selling of wheat on the opening ad-
vance by Weare. Wrenn and StaufTer, per
haps I.o,o.O bu. in ali. was supposed TO DE
for account of John Cudahy. who was
known to have bought considerable guam
tity at lower prices. and the impression
created by such action Of so experienced
and successful trader was that ii might
be prudent to follow his example, ana
many who had long wheat with a profit
attached did so, and brought about in that
manner a reaction OF i2c a bu. The general
tenor of the news. however, was too strong
10 permit OF general weakness, as the pre-
ceding mention of few of the items
sufficiently illustrates; and there We're
others ST. Louis early in the day reported
good export demand, and wired of sale of
%Jaco bu. before Il o'clock. The weather
in the Northwest had again turned wet
having some more of the stacked wheat
sim to soak. The Atlantic port clear
ances of wheat and -four were 10000 bu.
The aggregate receipts at Western points
10000 hu. Last year the receipts were l.
2i5,vco bu., aud shipments ili,OUO bu. Liver
pool closed at an advance of from sd to id
for wheat futures. Paris was up equal TO
&c tu., and Antwerp rose ssc a bu-
Corn.
The local receipts of corn were 81 cars,
or 90 more than the estimate made yester-
day. and for tomorrow $40 cars were pre-
GIcted. such eyide nee of increased move
menI compared with the recent average
had very little influence upon speculative
demand; at least not as the latter was re-
hected IN the market. which was firm.
Trading was of only moderate dimensions.
and while the leading bulls We're not CIV
ing prices any active support they caused
ings, apparently satisfied that the firmness
OF wheat would keep short Sellers quiet.
les ,nes,traaS business Tor export as reported
by many this morning amounted to ;he
great total Of 1eo boatloads. or about lJ1-
go bu., but the clearances from the At
lahtic ports were only 10000 bu. Arsen-
tine shipments for the week We're l.l35 900
bu., as against 77S,0Q0 bu. the week before
and 1sSS.oO bu. the corresponding week of
last year. Liverpool reported futures 7sd
higher and spot corn up l2d.
The heavness in wheat the last hour of
the session took from corn the support given
to 1t by its earlier strength and the market
became quite weak, although another heavy
days shipping trade was done In addition
10 l.C0oc1O bu. reported sold yesterday, 6O0,-
90 bu. more was done to-day. Oct. opened
at from S9lsc to 3sl4c. sold as high as 39I2c
and worked back again to 39isc at the close
. New York reported sales for export of 30
boatloads, in addition TO 10 loads yesterday
Oats.
The oats market was dun but firm and
almost imEovable as TO the price. What
fluctuations occurred were within a narrow
compass for the futures. The firmness of
the speculative market had its basis in the
good demand for shipment. business later I'm
the afternoon being 10000 and 10000 bu
The seaboard clearances were S5,0GO bu. I/o-
cal receipts were 327 cars. and 3S5 cars were
estimated for tomorrow. The easier tone
to the wheat market near the close some
what increased the disposition to sell. and |
the final trading was at the lowest point of |
the narrow range. Oct sold between 213kc
and pc and closed at 2l7sc, or the same as |
il was yesterday afternoon.
Rye.
The market ruled firm in sympathy with
wheat early, but held firm when the other |
turred weak. and finished with a gain OF &c |
were light Speculative demand |
was good and fair amount of business |
was done-more than of late. Export de-
mand continued to be good, but at h.c lower |
than the market here. A car of good old |
No. rye sold at 55c, the buyer desiring to |
use it for some special purpose. No. to go |