The St. Louis Republic., 1900-06-26
UPWARD MOVEMENT
RECEIVES A SETBACK.
MARKET CONDITIONS MIXED
AND WHEAT UNSETTLED.
Corn Was Also Unsettled and
There Was a Sharp Break in
All Grains During the Day.
Once Republic


Monday. June % 1900
The speculatt-c grain markets this morn
;ns. r.Shered IN the new week in manner
that was discouragiuE and disappointing
from 4 bull STANDPOINT. tho strength VII
messed last week and the expected further
= 7vance IN prices failing to come 10 me
front. The situation WAS unusually unset
tied and e-ratic, prices fiuctuatinS in the
widest sor: Of q way. but all the time
showing a tendency to seek a lower level
The markets were just the opposite or those
If last week and in particular saturday s.
rs where there was strength then, WIN
largely higher prices, there was notice
able lack ~ huh enthusiasm and unuiistak-
able Weakness that WAS accompanied hy
largely lower prices to-day. II was the
bears inning and they made the most OF
&. bringing about such reaction mat
nearly all Of last Saturdays advance WAS
wiped ou;. prices slipping back much easier
than they had advanced. and finally clos
srE at A loss for the day in grains OF all
kinds The unsettled conditions prevailing
and the Wildly erratic changes In market
values causeI lively and exciting session.
traders half the time not knowing where
they were at. being completely mysliiied al
times As result. the scene in the pit our
ing the day even surpassed the most eNci'-
ing ,iav of last week
altrou~h the reaction IN wheat to-day
was severe. and prices broke largely during
The day, there was still an uniertone OF
strength which quite remarkable
when i Is consileroi that long wheat was
poure.i into the market in such quantities
Al times there w.re good Indications that
the bull movement had perhaps culrnina-
ted vet there were others at the same time
when the periods of renewed strength were
so pronounced as TO create the impression
that bull sentiment was every bit as strong
as ever An excited and erratic market
was experienced Gn6 there Tera intervals
when Il was 4 case OF ''an hands to the
pumps to keep the bult a6oat The at
ternpts made TO rally prices, however. were
almost futile. as while there was the usual
bull news on the crop. prices seemed to re-
spond with only. feeble advances, indicating
a lack of real good buying support. Price
changes were frequent and wide. as Is
shown hy the fact that the difference De
tween top and bottom figures Tor the July
option was iisc, u loss of S%.c from satur-
days closing. Crop adsices were again
prominent influence, but were rather CON
nicting though most OF the news tron the
Northwest was gloomy IL the eAtreine,
Rains were said 10 have fallen IN South
Dakota and in CANADA. though private ah-
vices reported weather hot and dry. In the
Southeast the rains had bsen So neaSy As
shock, while in the southwest the weather
was favorable and harvesting was IN prog,
ress Cables We're decidedly bear;sh and
Indicated that, Notwithstanding our big aG-
vances last week, England was sun mold
ing back. and the best response oy Liver
pool was only ld advance and is2o at Lon
don. The worlds shipments were o,sveo
bu. and the amount a1oat dscreaseo only
az otU bu., as against Lssv.os ou. decrease
wear ago Russia seemed to be increasing
ner exports, the Black Sea shipments BENG
% COZ bu.. against LOS, Wv ou- the week
before and l.o6s,vvo ou last ear. from me
above IL can be seen why the market was
efra:ic ana traders at sea
All the leading markets OF the country
opened lower in spite OF the strong eiose
wheat was predicted then and believed IN
Dy many, SO that the real conditions were
doutly Disappointing. The starI-on OF July
WAS good. thai option opening aAc up at s'c,
but IL Immediately broke ana sold az S5ssi,
and Was offered Tor sale at Ssiso and then
hafri. opened where II closed saturday, at
as.c sold at s7Sso OF to S1Ao and back
again 10 sSi4c. these changes occurring the
first few minutes after the opening. Follow
ing this there was q period OF nervousness
with the market holding its own very we'll.
Late cables were by no means encouraging.
the markets abroad advancing but slightly,
Paris being I5.c higher. Antwerp nearly lIsc
and Liverpool but ssd up at the close The
days ciearances were moderate at $500
s64se. and then back TO s!iso bid. Sep. off
10 s1izc and up to Ao1tc. Chicago reported
heavy liquidation III July and that and the
unexpected decrease OF 1,34s, 900 bu. in the
visible created semipanicky feeling ana
desire on the part OF local bulls to get out
OF their holdings. There were few buy
ers ana prices went down with q rush, the
market breaking 40 to ic on selling. There
was no stopping this decline until July
touched eSc and Setemoer SIC, when there
was a sharp upturn and at the close there
were buyers 1i2c lower for the day at S5i4c
bid July and tssc of at s52sc Did Sept
August was nominaily issc lower at s53sc
and June not quoted
= Corn to-day did not present the wild and
exciting features that wheat did, though the
market was verg much unsettled ana sold
on sharply il price. The cables from L:v-
erpool we're discouraging. that market
declining isQAsd. and local exporters
said that It vas impossible TO do business.
At $1,000 bu.. against l,oO! go bu. last year,
ana shipments were 1,1l,Goo bu. St Louis
received ls2o19 bu.. against 81. go bu. a year
ago. The days clearances amounted to 57s,-
90 bu-. and the visible supply was Increased
sa.syO bu.. against $4,000 bu. increase last
year. the amount ahoat decreasing 2I0.o,s
ou: speculative interest in this grain was
light and dealings small during the day,
eut prices were errauc and jumped around
in lively way. On account OF the large
receipts July went to considerable dis
count here from Sept, opening iac lower at
4lc and later fIi2c bid. whereas the latter
opened &c better at 42c. and sold of to 4l3sc
ana back to iz7sc. The collapse in wheat
caused corn TO decline sharply, July going
70 fc7sc and September offered at dc Late
sue mar het was stronger ana closed at 1hc
decline In June at 49S4o nominal ,sc loss in
4stc bid.
oats locally were quite strong early In tn.
Gay. and sept sold 1lc higher at 2J,zc whiIa
Tor Jriy 26c was bid, bat after wheat aud
corn tumbied all the strength disappea red
from this grain. and Sept. declined until Of
Iered at 2i1ic. But late. like other grains.
there was a reaction and the close was bet
Ter. June closed nOminally unchanged at
ZSc, July being only &c OF for the day al
zoyc nominal and sept &c lower at 2IS.c
piH- western market receipts were 5000
ou., against 2s4 600 bu. a year ago, 81 90 bu
arriving here, being just double those of a
year ago. The shipments were S27 600 bu
and exports 5000 bu There was a dec-easo,
in the official visible supply OF 500 bn
against l.S4i,ooo bu. last year.
Trade Gossip.
Shipments Of wheat by the principal expor.inv
Countries: S'''ins
Last week Year