The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-17
CORN LED THE MARKETS
AND PRICES DROPPED.
RAINS CAUSED SLUMP OF
THREE AND A HALF CENTS.
Wheat, Oats and Provisions De
clined in sympathy With
Weak Corn Market.
REPUBLIC SPECIAL.

! REPUBLIC SPECIAL.
Chicago. ILL.,, July i6.-Corn led the other
! markets to-day. and led them 10 their loss.
Ii closed at u decline of 3isc bu. itself and
WAS largely instrumental IN causing the a.c
decline with which wheat closed, &c loss IN
oats. and "a decline in provisions OF Soc in
I pork. .ixc in lard and DC In ribs The de-
cline In corn was largely the result or the
artificial character Of the recent advance
| and the dangerous uncertainty OF following
: with blind confidence the mouthings of ex-
! ctable crop reporters with possible axes
| 10 grind.
! Whea: opened aim 1st ic bu. lower than
It closed Saturday. and corn nearly 2tzc
\ lower. Rain caused the great weakness In
! the corn market. and was at the bottom also
| OF the decline In wheat. Revised estimates
OF the probable total OF the wheat crop
! came upon a market already prepared 10
/ believe them and ready TO throw up the sur
felt OF certainty news with which II had
been overloaded. The opening prices OF
wheat for Sept. were over range of from
! TSc down TO 71asc. with an almost instant
slump to &c. Very little was taken at &c.
and 1t was difficult to make sales freely un-
I'll the price was down to &c. The great
VI foIs tOIi ilsid a. hSpA'soiH5
feet and added to the weakness that re-
suited naturally from improving prospects
for wheat in the Northwest. Foreign wheat
markets We're weak. and. therefore. contrib
utcd to the heaviness that found nothing
at the outset Of the trading to afford re-
lief
Quite independent of the weakness or corn
and improved condition Of spring wheat
. han, .,iYN-e. 49, no.
were enough TO cause weakness in the
market. While the total OF the days re-
ceipts OF winter and spring wheat was &c.,
90 bu. smaller than that OF the corre-
spending day OF the year before. the WIN
ter wheat portion Of the globe was large
ly in excess. St. Louis got 2i6.vo bu.. Kan
sas City al 900 bu. and Galveston $1,000 blu.
Chicago received los cars against 100 last
year. Minneapolis and Duluth SI cars. COM
pared with 736. The worlds shipments for
the week were 5.41Ocoo bu.. against s.l6S.op
bu. the year before. The quantity on ocean
passage was $4,000 bu. less than week ago.
leaving the total at c9,l+.0oo bu- .2against 3d.
92S.c bu. on the similar Gate last year.
The domestic visible decreased $4,000 bu.,
and the total IS now ieOsl.ooo bu.. against
3i552. 90 bu. a year ago. The days clear
arces of wheat. and -four from Atlantic
ports were equal to $1,000 bu. The lower
the price OF wheat was the first two hours,
the more was for sale TIL Sept. sold down
10 1issc. which was the raliying point for
a slight Improvement. Sept. wheat re-
covered from 762sc to I'Ac. ana closed at
UisgTHc.
Corn.
Corn could hardly have been weaker than
II was for an hour In fact. IL was twin
the utmost difficulty that buyers could be
found at times, even with sellers willing
10 acceupt any reasonable bid. Sept corn.
which closed on Saturday at 44ssc, was for
sale at the opening this morning anywhere
from 4ac down TO 42i.c, and not many buy
ers could be found a, even the FL, lowest price
+ci&c, but at that loss OF 4c. and little
over buyers were found IN sufficient num-
bers to bring about rally. From 4o1.c
IL recovered to 4lc.
Kansas. Nebraska. Iowa and Missouri all
had thorough soaking-enough to drown
ing of the crop. The local receipts again |
orerraa the estimate. which latter was 60
cars. and the actual number inspected was |
ia. The total received at the chief West. |
ern markets was $4,000 bu., against $4,000 |
bu.. the like day of the previous year. The !
quantity on oceai. passage If now A976.oO /
bu-. or 132s. 900 bu. more than the total of |
the week preceding. and against H.7ot.Go |
b!i. In the similar position year ago. The !
amounts TO l3.e0sOoo bu.. compared with |
.ooo hu.. at this time last year. Exports /!
from Atlantic ports were Ss.ooo bu. The /
days shipping business was said TO have !,
been heavy at the reduced prices l.e90 90 |
hu. being claimed TO have been worked here
which was probably included In the 100 boat |
the 10 loads at New York. Liverpool fu- |
lures closed at Id decline. Chicago in !
fpec;ion was estimated at 1.0Si carloads |
for tomorrow. After the recovery to de-
Sept. corn sagged TO %0s.c and closed at /
4yfsc
Oats. in sympathy with corn. lost &c a tu.
In price in Sept. delivery, but recovered &c |
OF 1t before the close, leaving off with the
comparatively slight decline OF izc bu
The opening price was from 2ii4c to &c |
the lowest &c and closing figures &c. The
days local receipts were IS. cars and rs |
were estimated for tomorrow. Seaboard |
clearances were 2Gscoo hu. and New York |
advised sales for export of $1,000 hu TIE |
visible supply decreased $3.50 bu, compared !
with $1,000 bu. decrease year age and
present total Is 7.li4039 bu.. against i-?3- |
600 br. at the corresponding date OF 1892
Rye.
Rye declined to the extent OF 3'Sc. intu-
onced by the weakness Of other markets. ,
July was nominal at SIC. Sept. started at
5s5:c, and rested 4: that. Receipts wera .
cars. Exports from New York amounted to
2i.%9 bu. Stocks at Chicago aggregated
5J3.OO bu.. an increase of 23.tOo bu. over the
IT.. 10TH