The St. Louis Republic., 1900-08-16
CORN AGAIN LEADS
SCORING AN ADVANCE.
WAS THE WHOLE THING IN
SPECULATIVE GRAINS.
Wheat Made a Very Good Start,
but Subsequently Sold Off,
Closing at a Decline.
Office Republic,


"Wednesday, Aug. 10. lSoo.
--ha ,oc,I ,,ra,n markets to-day were in
rretty much the same condition as theE
we're yesterday. inasmuch as corn asa'ii
took the lead and made a sharp ADVANCE
while wheat, after good start, Weakenea
and lost all that II had gained early ana
closed at loss for the day. Tne PIT trad
ing to-day was of exceedingly limited pro-
portions and almost entirely professional
The early tendency Of ell the markets was
inward, and led by corn they maze some
very good net gains, but the general STU
alton was tame, not 10 say stupid. ohiE a
mild degree of interest appeared 10 De
taken by traders and a slow condition Oh
affairs was had most Of the time. AS was
stated, corn was again the leaoer anu
showed unmistakable strength ana bullisR-
ness, the ruling factors being weather anu
crop conditions. bringing about a SUN ao-
vance, which was well maintained ana CLOS.
Ing the market 7sG1c higher for the chIeI
snecuIa,,ve option, while the higher priced
cereal was weaker and lower. that gram
losing &c. Oats. in sympathy with eorh'
closed ,.c better for the day.
Br2cei up by corn, which grain was very
strong and b,lllish. wheat this morning ear
iy showed strength of a mild form ana
some little evidence of life. but subsequent
lv was duller and moro stupid than !estei-
day. and that is saying GOOD deal ne
movement OF prices throughout the "a!
was trivial and insignificant. without any
impsrtapt exception, and the aggregate VOL
ume cs business small: Besides the uii
Questioned booming qualities OF coTli' lHsie
were several other influences TINS inoIhtuS
tina; exertei a better effect ana creatsu cr
Quite a firm undertone during the opening
hours OF the days session. In the Hrst
place there were some signs OF a let-up IN
the movement TO this market, the arrivals
here amounting to li9eoo bu, whicf. az
though exceeding those of year ago 10y
s2.5oS bu, were $500 bu. smaller than those
OF last week at this time. =
Than there was q rather insignificant IN
crease In public stocks, due TO the Snlpplhs
out of 100000 bu. from Advance Elevator
to Toledo. The bullish influences were
bearish cables. which reported Liverpool
as opening I'D Off in price. other winter
wheat markets showed a decrease IN re-
ceipts and the Northwest reported only IA
cars. against 246 a week ago, and 1Si a year
ago. and as II the above was not enough,
the weekly Government report stated that
heavy rains aad prevented conlaeuon @ e. o.
over-ripe grain standing in the shock as
well as in the field. The market made i
very encouraging start. the buying beng
sufficient 10 advance prices i4c the !rst
half hour. Sept. opened at s12sc. the same
as 1t closed yesterday and at once sold up
To- to .7lssG and o,Ise: Dec: brought ,,+issd e
a let-down to the opening figures took place
in Sept. and Dec. was .44QSsc bid. Corn
continued to boom and Liverpool allied and
was Il to &td higher. Paris and Buda-
Pesth sent no cables being closed. but Ber-
lin was nc lower, and Il private Hamburg
cable reported 2 marks decline ard that
Germany had raised big crop. II was also
stated that Russia had reserves of two old
crops on hand and consequently large
ths dav to exe9f Wers but neSa
900 bu. from. New Orleans and Galveston.
For some considerable time the market
was dead quiet and swung within small
range, though the undertone was quite firm.
Sept. ranged from 7l&sc and T15sG@ic bid,
back to i1lac and up to Il&.c. Dec in the
meanwhile, selling at 14l2aFsc. Near the
close. weakness was developed and prices
began 10 sag, the reasons being that the
cash situation was not satisfactory and corn
failed to maintain its full strength. This
started selling and Sept. went down to and
closed lac lower for the day at lisc sellers
Dec. was also lac off at I55s@iic bid, Aug.
sc down to Ike nominal and Oct. i.c lower
at 12sc nominal.
Corn swung into line again as the leader
in speculative grains. a position that II held
all through the day to the close, which.
while not right up at the top, was consider
ably higher than yesterdays close. The
first incentive to strength was given by the
Government weekly report on weather and
crop conditions. which was so very bullish
as to start good active buying right at the
send-off. In this statement it was said that
in parts of Missouri and Kansas late
planted corn had been materially damaged,
and in Nebraska, Iowa and Illinois had also
received injury. There We're other sections,
however. that showed an Improvement and
promised fine crops, and ii was stated that
the bulk of the entire crop would be sale
from frost from Sept. TO 10. Receipts at
Western markets continue small at 2SS, 900
bu-. against 1900 bu. year ago, which in
cludes 34.4G0 bu. here, against $500 bu. last
year. Shipments were heavy at 1Nl2,oD bu.
and the export clearances were $4,000 bu.
The bullish feeling showed itself right at
the outset. when buying was lively, and as
there was but little for sale the early ad-
vance was well mainta ned.
Sept. opened ssGi2c higher at &c. and at
once sold ur to Sf4c. Dec. on the other
hand, opened lsc lower at 325sc. and then
quickly turned about face and went up to
234c. Oct. was offered at S5S4c and shortly
aftcr 36c was bid. There was no let up To
this strength until late, when Sept. had
3sisc bic. which was lEsc higher than yes
terday. Dec. on the other hand did not go
above SSac, and Oct sold at 36]4c. Then
the market commenced to show signs of
weakness, and prices let down, there being
some selling on fears of rain. At the close
there were sellers of Sept. at fs6lc advance
for the day at S.iac, OF Oct: at &c advance
@33c. Aug. closed nomina!ly 1ac up at 31s.c,
and year unchanged at 322ac.
The receipts of oats at Western primary
markets this morning were reported at 904, 600
bu. against $4,000 bu. one year ago. of
which amount &c 400 bu. We're received here.
against 1850 bu. last year. The shipments
were $4,000 bu. and the exports 1O.VGe bu.
The great strength and bulishness shown by
corn had its effect upon wheat. which was
also strong and 211sc was bid for Sept, and
224c for Oct, but there was no trading and
the market closed at these figures, with
Aug. nominal at 2lasc and May al "a sellers.
Trade Gossip.
Tho weather conditions were generally very
unfavorable asst week. says the Government
y cekly bulletin. Very little plowing for fall
seeding was done In portions OF Missouri and
Eansas, corn, more especially late planted, has
been materially injured and the crop has sus-
tanned damage In Nebraska, Iowa, Illinois, al
advanced toward maturity, while In Illinois a
large yield IS still promised The outlook in
Indiana and Western Ohio continues very prom
islg. but In Central anti Southeastern Ohio and
throughout tte Middle Atlantic States, corn has
sustained serious injury as result Of drought
tho corn belt the reports indisnta that the bulk
of the crop will be safe from frost by Sept.
TO 10, and that the late crop VIII be mntured one
two weeks later. Heavy rains in the principal
srr!ng wheat States prevented the completion
%: the spring wheat harvest and caused injury
the orerriTe standing grain. as well as to that
in shock and stack.
The exports Of wheat and -four during first
month Of the season of l9sy-l9l1 were equiva-
lent to I750.s90 bu.. compared with 1t,s9i.0l bu.
for month last year, II. 5Si i6I bu. in 1885,
?5l7.s79 bu. in 1887 and Il. los. s6J bu. in 1896