The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-14
ANOTHER BEARISH DAY
IN CHICAGO WHEAT PIT.
CENT AND \ QUARTER RE-
DtCTION.
Corn Price Fell Half q Cent-Uats
Lost Il Little-Provi-
siOns Firm.
REftBl.lC SPECIAL

REfUBLIC STECIAI.
Chicago. July 1-wheat: This was an
o'her bear day in the wheat market, fur
ther reduction of lie a bu being the re-
suit OF the trading. Fire weather for such
OF the wheat In the Northwest as remains
awe 10 enjoy its benefit and statistics To
prove tina; with all the damage no harm
rad been done We're the chief reasons for
the additional weakness
Corn had all the support that could b.
given TO 1t by the Industrious crop EXPERTS
now In Kansas and Nebraska. but sympathy
with wheat and taking of profits by some
OF the heavy longs shock the price down
| half cent bu. Oats lost tr!flc while pro-
| Visions were firm and gained little.
Wheat.
| Liverpool wheat at the time OF opening
mere was only nd lower than il closed the
| uay before, and Argentine shipments Of
| wheat {" Europe were reported as only l.
| i"o"" hu. against 2.i6s"S bu the week
| previous IL WAS also very hot and still
| 9ry IN Kansas. and. although the conncc, on
| between that and the price II wheat aft r
harvest Is rather remote. il was being m.n-
| toned before the opening as a reason for
| hrnness. The opening prices were at from
| sc TO sc above Thursdays: closing figures.
which proved the bullish influence upon the
4 mind of some traders Of the not very ma
| terial considerations just mentioned AMI
| that Il majority considered the material vas
quickly demonstrated by the weakness that
| Immediately succeeded the opening spIurse.
| Sept. wheat closed Thursday at s0,,c,
stafttu ms morning 1t from Siyc Up to
ssh.c. but in half an hour i; had declined To
| .s-sc, or "sc below tie point of 81 sing yes
| tcrday
Chicago received 81 carloads compared
with los the corr. spending day If last year
| and Minneapolis and Duluth 1i2 as against
| 4s3 the year previous. The total receipts at
The chief Western markets were Igg uJD bu
against is9.op bu. a year ago. Seaboard
cieardnces of wheat and -four were equll
TO 2l5"n bu. Liverpool closed al a decline of
only sd. the comparative iirmncss there be-
ascribed To falling off In Arg milne ship
men's The Chicago daily trade Bulletin
viii publish this. afternoon its own es,im IL.
OF THIS years crop and other figures and de-
auctions concerning stocks in this country
ana abr' Id- These figures being made
known during tie session through the news
as, nc'es and proving very bearish added
TO the depression prevailing at the time. and
were the chief cause OF a further reduction
IN prices 10 1Silc for Aug. and 19iSc for Sept
wheat. The chief feature Of the bull. tins ,s-
Inmates was 505.lo0O0l bu. as the prol,ab,.
NH't1 crop bls the nlttd States. and ~
6'V"c'ec hu. as the total supply in all po-
sftionS. compared with IT'S estirlat. of ssS =
cJ}.oS bu. at the similar time las, Year In
addition TO the b5arishneSs of such figures
Eroomh II. Liverpool. cabled that estimates
OF the French wheat crop were being raised
and that the next official figures would
make the expected total G3JCea0a re- !iicin,
the deficiency. compared with last sea-
sor's crop to abou; 35.Oo,. 5D The news from
ne NORTHWEST was likewise Of beaiish sig
Tor growing wheat were ABOUT perfect
The market was nervous the last hour Of
me session. ralying quickly. izc from tho
moments al 1s1sGi1si.c for SEPT. or ne low
er than it did the day before
Corn. |
Ine corn market was weakened by the |
beariShness of its neighbor. hut stood out |
stoutIy Tor a time against the EXPRESSION |
~ any sympathy with the falling wheat |
market II could not. however. remain en-
tireiy indifferent. and when wheat was a, /
us worst and lNc under yesterdays final |
neures. corn for Sept. had yielded &c. The
news from Kansas and Nebraska heing
wprse thln before as regards damage To
me crop from heat and drought. the mar
issaif Kan rallied Ia. as soon as wheat steadiei |
ing Scorched. and the crop reporters wee
nlakinS diiiEent use OF the telegraph wires
10 INFORM tEe world of the suff.rinrs or
corn IT those States. Continued warm drv
weather was predicted for those regions |
v M, mat In Eastern Nebraska some rain
co.
~ ears. exceeding yesterdays estimate by
~ caFioads. The estimated number for to-
at the chief Western markets arnon,,.d 3, |
.Savo bu-. against .G5..J bu a wear ago |
20 Svaooard ciearapces were heavy at sc,.s1
bu Argentine shipped this week only 3iI
70 bu Liverpool quot; tions Were advanced |
from sd To I'D.
The opening price for Sept. corn WAS
OF io."c on. at q cents enabled that price |
10 1t quoted The taking Of profit on
customer by J. r. Reanie & Co was the
weakening feature Of the early trade After
decline to [3--Ni3s4c for Sept. the buying
became strong enough 10 cause an advance
70 sac but IL declined again to f;Tsc wber. |
y closed. being a decline for the day Of "a,
ports of corn from all American pIrts =,
6.s4s,so bu; New York reported sales for
EXPORT Of g boatloads and vessel room for
Hhipiheh' OF ooVo bu engaged.
Oats.
~, ne oats price fluctuations followed those
OF corn very closely Sept oats opened M |
2i.c. compared with 2I,sa2isc YESTERDAY
g., as low as 2ii.c. bvt that was the rally
,ns point ior Hc recovery. There was a re-
figures. Local receipts. were lsl cars
against $50 estimated and 27e received the
Der Of caroass cay as,,, Df last s., year The mum
i'o- seaboard clearances were 81. 40 bu
barley.
:, farley remained unchanged at the previ- ,
f.r;,.. NdS HRnt ana Of l
.erings fair Mailing grads ranged from |
soc 70 4'r; feed lots Acc To 43c. screenings &c
20 sc. Receipts were cars Shipmenfs |
i2l bu. W." VI -" 10TH H.
Rye.
rye was rather quiet and steady under
small offerings and little trading I'll. NJ | ,
iuoted nomnally at 51c. Sept. opened ana | }
,oid al 5Si2c, and closed with 5Ss. hid M !
: on track sold for 6Ac with No af seIs, | {
Secetpts were cars. Shipments ahout "a !
ng ' " 'o'h 10TH a
Range Of Futures. ;
Articles. omen EIg1 - ,,, | n