The St. Louis Republic., 1900-09-15
GRAIN MARKETS FAIL
TO HOLD EARLIER GAINS.
BOTH WHEAT AND CORN AD-
EANCED EARLY.
Bull News Plentiful, but Profit
Taking Brought About a
Lower Level at Close.
Office Republic.
c-.s - TalN0


Friday, Sept II, 1880
The two leading speculative grain market
started off well. but proved a great disap
rolntment ere the close of the day, boil
easing off sharply from the top prices. o
the two, corn was best maintained, and Il
the close Showed fractional gains, whil'
wheat showed fractional losses. The fore
part Of the session. and in particular atte
the strong and higher opening, was rather
quiet ana, although activity developed
later, IL was 1T the expense OF values, nearly
all of the earlier advances being compietei!
wiped and weakness took the place OF
strength. The strong undertone. so con-
sricuugs a feature of yesterdays situation,
held good this morning for some consider
able time after the markets opened, and In
tie case Of both wheat and corn much
higher range Of prices was established, and
a more bUllish sentiment developed. Later
as stated above, all this disappeared and al
almost entire change OF front took place.
;he wind up, instead OF showing advances,
being at loss of l-l6c to &c IN the case
of the hiEh-priced cereal, and slight gain
ii l-I6c To i4c was recorded in the cheaper
grain.
Professional room-traders had complete
control OF wheat to-day, and run things 10
however, has not been unusual, they haV-
iHg done the same thing all OF the week. one
day taking advantage of favorable cundl-
liJus and running prices up as far as they
would 90. ana then. when the opportunity
offered. taking their profits which in seVera!
Instances have been profitable. such was
tie case to-day. Pretty near everything
domestic and foreign in the way of news IA
Nnred the long side OF the market, and
traders found no difficulty in taking adNan-
lage of ii number Ut naid spots 10 reaiIze
Uu. Al the opening it appeared as though
every trader All the pit mad selling orders,
I'D for a time 4 lively anu Somewh nat eN-
Ci,.d condition. of affairs prevailed IN the
lnt on 'chauge The principal bull influence
lnIs morning We're the cables from Liver
Ioul, which reported that market opening
I'D higher and advancing $50 more maklhS
sd advance up to near the noon hour.
Inis frightened shorts badly, running many
OF them in ana also causing conslderdbie
baying Tor loEg account also. Inc next nui'
factor was the bad weather reported in the
Northwest. where heavy rains were SAID 10
Le falling. ana the effects OF Wnich We're TO
auyance Minneapolis largely. NORTHWESTERN
receipts Were only m9aerate the 's cars
reported being -53 smaller than year ago.
WINTER wheat receipts. on the otner hahG,
continue To snow up largely, 81. LOUIS ar
rivals amounting 10 l3o,ovo bu-. against lO-
go bu. last week, and only L,ou1 bu last
year. Argentine shipments were small at
ss5.Uo0 bu.
The opening here for Dec, under the in
fueace of the above array of buliish fac-
tors, was at Asc advance, at ,oc ana curing
the active period that followed tnet OPTION
ranged between 15:sc and sc. the narrow
ness Of speculation and the heavy Wl!iter
Mueat receipts, caused w2ahness ana prices
gave way. Dec. going of to i5Asc. and Oct,
after selling at .4Iec, was offered for sale
IA 7il4c. Then came another period Ct
strength, during which tilne the market
touched top ngures, Dec. SomS 10 .61Sc and
oct. having 7ii2c bid, and all due To a sale
made for export by lea1tES firm OF
cargo of Texas No. 2 red. at liec advance,
,Vb ind. rai h1T
the market. Ciearances ior the day Were
encouraging at $4,000 bu- in flour ana
vCrable than those received earlier. Liver,
pool closing sd up for the day, London Id
higher, Paris i3c, and Berlin Ssc. Buda-
Pesth was reported &c lower. The market
eased off TO 7Js.c for Dec, but quickly re-
acted TO 76isc. when it was learned that the
weeks cleaFances of -four and wheat were
with S373.iO9 bu. last week. and
I. $50. .552 bu year ago. These exports held
the market for awhile. but there was so
much wheat coming out that prices gave
way, and Dec. sold off to and closed 1-i6c
lower for the day. at 15izq1yssc. Sept.
sold and closed sc better. at lSa4c. Oct:
Was nominaly &c OF. at Iic, anu May closed
lsc lower, at 1S4sc bid.
There was uumistakable evidence OF
strength witnessed in the local corn market
this morning, and what was more encouraS
Ing 10 those who have been friendly to this
grain. was the greatly improved speculative
he heavy cash business done yesterday
and the small supplies in sight. Again SELL
srs were HotfCeably scarce, and the reduced
,rop estimates to not much above 2.91, 1,000-
90 bu.. made a good impression and led 10
l more confident feeling in better
primary markets We're 6ls.eD0 bu.. against
vi l,ccv bu. year ago. Local arrivals were
,nly 3S4O9 on, against 9l.3Dj bu last year
Total shipments We're 26i.00 bu.. and the
lays export clearances 100000 bu., which
we're the smallest for some time past. The
1niy ll6c. at 3ic. but it sold shortly at
'tlsc and 341sd%4l4c was bid. For Sept.
here Were buyers at S9lkc. but none oh
ainable at that figure. Cables added to the
strength OF the situation by coming in
strong. and sd higher, while Chicago re-
advices. however. did not prevent the mar
Het from showing weakness late along with
wheat, and Dec. after selling at 3psGT
'4Ac. closed only lie better for the day at
nc sellers Sept. closed l4c higher at 3sI4c
lominal. Oct was nominally unchanged at
yesterday at 3324c. The export cIearances
Tor the week were 3 4d2, ,7s5 bu or 75q aSs b,I
smaller than last week. and S79 966 bu he
ow those of last year
Oats We're neglected during the day. as
,racers attention was taken up with other
and more active grains. The tone of the
market was better, however in sympaIhy
sih wheat and corn. Total receipts were
'saWo pu, against $4,000 bu last year, In
,iudinS $500 bu-, locally. against 81. go bu.
year ago. Shipments Were 33l 90 I'M and
he clearances soc00 hu There weTs bids
u Nhc for Sept and 24i4 d243.c for Nav
while Dec. was 22i2c. Chicago reported 3Gi
W bu- cash taken for export.