The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-11
GRAIN MARKETS
RECEIVE A SETBACK.
HEAVY RECEIPTS OF WHEAT
RAIN IN THE CORN BELT.
Speculation Very Quiet in the
Grain Pit and the Aggregate
Dealings Small.
Office Republic.

Ohfce Republic.
Tuesday, July 70. 1900,
The local grain markets were IN the dol
drums this morning and for some consider
able time after they opened up there was
scarcely enough business transacted in the
pit on change TO create even a ripple in
the pool % speculation. Not only were the
different markets duh. but they presented
mark contrast to those OF yesterday in
other respects. as unlike yesterday the gen
eral situation was weak. heari.h and largely
on in prices. most decided change having
taken place over night. Nearly every
domestic market IN the country opened
lower, as d.d also the leading grain centers
abroad. The early advices worked against
the bulls and brought about some severe
losses. from which the different markets
never fully recovered. Wheat, as usual. led
in point Of weakness and declined most at
the outset. but corn was not far behind and
late IN the day caught up and passed the
hIgher-priced grain the way down.
The setback TO wheat was very discour-
aging 70 the bulls. who went home last night
congratulat:ng themselves upon the good
showing made yesterday, many believing
that the upward movement started then
would be continued to-day. They were
deceived right at the opening, however
there not being a sign of yesterdays
strength. they being confronted by a con-
dition OF affairs that gave them shock
that they never recovered from during the
day. The factors at work this morning
were almost wholly favorable TO the selling
side In the first place the receipts at this
point amounted to Ia. 800 bu. and there was
evidence that they would continue to in
crease from now on. as not alone were
country shippers Offering their wheat freely
but Kansas City was q seller here at lower
prices than ruled in this market As usual
foreign markets made no response to our
strength of yesterday and III fact ignored
]; completely both Liverpool and London
cables reporting declines Of I'D "A If this
was not enough, foreigners refused to come
into the market at present prices ana
the weather conditions IN the Northwest
were beneficial to the crop and perfect for
harvesting in the Southwest. All the
markets OF America opened sharply lower. !
Chicago leading off with a loss over night of !
lglh.c, New York being sc off and other |
grain centers from lac TO 80 decline.
There was no disposition shown 10 COM |
mence Operations in this market until some !
time after the regular hour for opening. and I,
IN lact there .eTe no dealings until a iull l
cent was taken off prices. Then Sept. sold I
al CSC and July sold ssc lower at Use while !
aug. was &C OH at I1l2c. On Ihe reaction, !
which was perfectly natural. Considering The /
break, sept. went to 1s4sc. but there benz;
many more sellers than buyers It soon Qe-
cIihed TO .Sc, where 1t remained fl an a.
most eoihdtose condition for long THE. /
"a the meantime July sold up TO ave and
DOWN again to i8isc. Even The expected bali
ism Government report could not hold
prices up, everything else in the way Of |
HeMS oelhS DedrlSA. Late cables reported 4 |
1ecnne Tor the day at Liverpool OF 3sc, at |
the only market TO advance being i;udaI !
as 81 MhIoh was sc higher. Clearances Of |
, ~, ano wheat weIs small. they amounting !
- ~ IN! Io.'vo Du and OF whica but 5000 |
was IN wheat On a Statement of BTad- |
s srree,s mat IA the worlds visible had de-
creased o,loy.V0 bu. thsre was a REACTION in !
sept from 773s496o TO 7s7sc. the stro,s -
ltsnsr cash situation helping. Snow report
, er ahat the government report indicated
neapois Market Record reported RI. |
S Up Oh sne Daketas and Minnesota as ss,os5yo
ana IN very snort time Sept. was back "a
.o9'ossc. IRON which 1t rallied to Sic Whlrh |
cIaseS &c se Town Tor The day and at which it
Dio ana Aug. $.45sc Of at 779sg7.lac bid.
Corn; which was SO strong and bur,;sb
Yesterday, was pitifully weak to-day fIs
market helng deprived Of fits chief bUii So |
ms f III ni1aS IN the West. good rains hav-
mere was no desire TO buy as On yes.eTinv.
III ule contrary. the pressure this nornIrg,
as IN res sn sebans Size OF the account. and
salues right al the outset Tie evnscta |
eon.y5 u oearlSh Government report had
SE III aoIe TO do with the disposition "a |
sen, as also did the cables which yen"r,eG |
-, pooL as closing I'd off for the day in
spite OF our big advance yesterday r. |
sTe eIs noted an increase In the avaiisbia
"a n,11s'ee bu last week, where the r.gt,isr
Tbara Supply was increased 10000 bu. | I
y,-. was q iet-down In the arrivals az ! :
western markets, they amounting 70 SO a., | !
y DO ssaihst eIi,oo bu. last year, incjTIing
ago. Shipments were 935 oc5 by 80 4 year
port cIearances 900 bu. There was a - |
hut ss IN IN the day. and Sept went to 4Ss:c
nuS as IN the case OF wheat, there y.r. f., !
many Sellers and no buying supp"r+ 90 20
ported s,1 no. sf s,i let down; Chicago re-
new York 100 loads, but even this co,,SJ an MI.
the c6 pT,ces , and Sept broke lc to craze
at 21sc. while July was i5sc of s ~, . day
asked and Aug. nerninalIy &c nae
,,esdrds the coming Government renort 80 I
IN Wig II II would be bulIish OF hcsrtsb
t bro Su1bse9 tS OF this the market ali
ne day 23i4c was bid for sept. bu, ar In ~.
he Ss were sellers az that, being &c off for a
at z8lso nominal Brafstreef'sc h ,- ,o~gr
~ We decrease Of 7ooo bu, againsI ~
ern market receipts amounted r. soT oW est
against s4s,0o bu. one wear ago ' ars, gu. ?,
veae Sb,n. 10" bu.. against 5000 bu iasi
ana exports 5000 d. a
49,. IT me June report Of the Departr,.n- NJ,
ue area then IN winter WIZ, 80 | -
Of tbs Di las = 200 acres aad The conditiSa
slsic or Sfs, 'olOcl bu The sprnR VIII, '',i.el
gwen as 1s3O5,01 acres ana co-Idifio, o. a
.nucatins crop OF "a 800 Oc1 In o., an 80, a
oso.rsc total crop Of So SO COO bu ys,s ~, d
Tfa'es whea. was SIS and q spring w6es. Z
ne una sspo:t gave yields 81 II 10 "a 3 Is
~ 1T ana 20 .eo0 eu., a total cron ~ - e
1870 ~ %. Ihe condition Of cats on nm
.i,-ati was slf. and area then unier Cu,I A
z. 90 90 acres, these rficsrj.- Nu'- $
~ 80, 800 bu. With the condition 90 on hi, b
~, o. Lsst year crop Of 7S. 20 600 Iu was
1 nc corn crop last year, with a c0r.ifiS-, -
n. "a July l. END o: ST. at harvest and an g..
He,l OF ezloh.tH acres. O7s 100 90 nv, -
III. Il t,le