The St. Louis Republic., 1900-06-20
WHEAT'S GREAT BOOM
CHECKED AT CHICAGO.
HEAVY HOLDINGS DUMPED
INTO THE PIT.
Prices Were ShOrn Something
More Than Cent-Other
Markets Lower.
REPUBLIC SPECIAL.

! REPt BLIC SPECIAL.
Chicago. ILL.,. June l9-The boom In whea.
was arrested to-day by the enormous guam
MY or bull holdings that came upon the
market. The price declined to la.IlTc be-
10" the closing yesterday and at the end
was still lispi4c down. Rain in North Da-
kota and in Manitoba was reported to be
quite general, and that led 10 the hope OF
the crop III that country and easing the to-
tai destruction with which it was threat
ened.
Enough damage has already been done.
according TO the majority Of reports con-
cefhhg IT, TO warrant considerably high
er ieVel or prices the coming season than
prevailed last, and the injured crop has
sun before II what in ordinary seasons is
Regarded as the time of its greatest peril
IL may require the small receipts. that un-
doubtediy resulted from the damage already
done, TO convince the trade of its immense
extent.
Corn was comparatively firm. losing only
isHi4c. oats lost only shade. Provisions
also suffered i little
Wheat.
The Liverpool wheat market orenei
strong. but not strons enough to keep the
ChicaSo bulls from turning around and
thelr looking backward was almost as fatal
as that or Lots wife except that she was
the only sufferer. whereas those wheat
puils mat turned about caused the trans
ferrinS into salt Of much of the sugar In
their EeiShbors. Selling out of long wheat
was the feature of the wheat trading in the
forenoon Due 10 that alone. and not to
any improvement in Northwestern wheat
prospects, the price of July wheat suffered
Fac decline in the course of the first hour
OF trading. That was not accomplished un-
III after an animated struggle. during
which the most stalwart bull contingent
displayed their unaltered confidence in the
market
1he opening range was from 7si.c to 1s+,c
ana after a large business had been done M
from 'sc TO aSlsc the price shot upward to
'S'tc. Millions We're for sale at above .9c
declined TO Tic
Liverpool advanced quotation from 1isd
70 !f4u Tor futures and from I'D to 2l.d for
Northern spring. They had evidently been
nearing IN Liverpool that il was dry in
tne t Northwest. Paris was up ll4c a bu.
for June delivery and 1c a bu for later
months. The Parsians at the close had
likewise been informed that rain was not
SO plentiful in this country as American
Uolidfs at their big show. Antwerp raised
quotations for American red winter wheat
the equivalent of i5sc n bu. The wheat
rauefS OF the BelSiail market had probably
learned of Hessian iiy having taken first
States
Local receipts were aol cars. rs against
Ip the corresponding day OF the year previ-
GUS Minneapolis and Duluth got 81 cars,
as compared with 12Q the year before. The
aggregate OF the days receipts at Western
primary markets was $500 bu., as COM
pared with S2iccV the same day of 1899. At
lantic port clearances of wheat and -four
Were equal to $4,000 bu. Rain was reported
m Hyr ,CiN in
Manitoba and North Dakota. and that
helped TO Increase the selling. which con-
tinued heavy until July was down to &c,
from which point it turned upward again.
After recovering to .S1=c, il slid OF to 17Ssc.
where 1t closed.
Corn displayed an independent strength
that it was not supposed to possess. III
stead of wabbling weakly in the wake OF
wheat. IL was firm when its ne;ghbor was
on the decline and maintained strong
front to numerous assaults made upon II
every time wheat bears were In the ascend
ant. Receipts at Chicago were l,093 cars.
year previous. The aggregate of Western
market receipts was S5l.0co ou., compared
with s9l 90 bu. the like day of last year.
Atlantic port clearances were 222.00o bu.
Liverpool opened al an advance of from
sd 10 SD and closed with a gain of from
I'd 10 i2,i. Estimated receipts a. Chicago
81 boatloads sold for export and |
sales Were made here of 25o.oeo bu, for ship |
ment. vessel room was taken Tor 3Ootp |
bu. at &C Buffalo.
July corn opened at from 39aIc to 3s7.c |
and closed at 39s.c bid II sold as low as |
;95a q395sc and high 30 "a Dl.c.
Oats.
Oats, like corn. were not Influenced much |
~ the break in wheat. Both Aug. and Sept. |
'losed where they did yesterday. while l
July was lsc lower. The spread between
July and Sept. at the close was only isc. |
Is compared with nc yesterday. This was |
brought about by the changing. Sept. was
bought and July sold. Ware * Leland ard
'ringle were heavy sellers OF Sept. The
ormer disposed of 50oOv0 bu. Schwartz *
)upee We're the best buyers. taking about
5000 BIZ. Geo. Seaverns was the largest |
eller OF July. letting go close on 10000 bu.
The country offerings were small. and lit |
ie business was transacted in cash. Only |
5.0Uo bu. reported. New York re-
orted 5000 bu. sold there for export Con-
ract stocks. 755.tJ5 bu., increased 1900 bu.
,learanceS from the seabcafd amounted to
600 bu. Receipts were heavy. 100 cars.
With $50 estimated for tomorrow.
Sept. opened at 23isc and closed at &c. The
Ugh point was 23ssc and the low 22isc.
Range of Futures. |