The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-17
DEM0RALiZED MARKETS;
ALL GRAINS LARGELY LOWER.
THE COMPLETE COLLAPSE OF
CORN HAD A BAD EFFECT.
Speculation During Most of the
Day Was Extremely Quiet and
the Dealings Were Small.

once Republic,
hfonGay, July &c. 1850
The speculative grain markets to-day were
IN a serlidemoral:zed condition and the rec
ord made by prices was one Of the worst. es-
peciaIly n the case OF corn, that has been
witnessed for many a lors day. All the
markets made a lower record. corn leading
with a total loss OF 12.c 10 sac, while wheat
and oats were sc to lac ana &c 20 sc lower
than these grains closed last Saturday The
weakness and depression so Ions the chief
feature OF the speculative situation Of this
country not only die not show any evidence
that Il had rrn It's course to-day, hut WAS
even worse than 81 has been at any time
since # first began 20 be felt. As was to
have been expected. the conditions prevail
ing were not conducive to speculative activ-
fly in any OF the markets. all the NE and
ambition apparently being taken out Of
traders, and a series Of dull and professional
markets was experienced from the hour
they opened until they closed.
The complete collapse OF corn was che one
feature OF the speculative grain situation
this morning and gave wheat blow from
which II never wholly recovered during tho
day. There were other influences. however.
which. while not so far-reachiug as the
Grst mentioned. were sufficient TO ada TO the
general weakness and depression that has
prevailed 60 long In this market. Among:
these "a the fact that the winter wheat
movement Is now fairly under way. which
was made plainly evident by the days post
inss OF receipts. the srTivals ar this point
being 246 laa bu-. as compared with l2l.Sl9
Du- year ago. Spring wheat receipts were
larger also. the arrivals at Minneapolis and
Duluth amounting to 2Si cars, against lg6
cars last Monday. Gables from abroad were
OF again, but the declines Of 80 ara %4d at
Liverpool and London were small when
compared with Or loss last Saturday Of 11ac
md had a somewhat reassurinE effeCt.Asain
cable statistical information was quite bull
ish. the total worlds shipments amounting
TO only 5.s1e,clo bu-. the Black Sea ports
clearing l,t52.O01 bu-. most Of which came
from Russia, and the amount on ocean pas
sage decreasing 2O-IoJ0 bu. The opening
here was at a loss of &c. the Sept. option
opening where {; closed on Saturday and
then going of to 1850 before the decline was
checked by the very good buying support
that developed around bottom prices. The
rally that followed was short-liyed. as after
Sept. sold Up to- 75lsc il struck Sac toboggan
egain and not only lost this slight gain but
went lower than ever. Neither side gave
any support to the market seemingly hay-
ing lost all interest, and the let-aown was
therefore almost without Interruption
There was nothing encouraging in the late
cables, though Liverpool held up We'll, only
losing Id for the day. Berlin was OFF lisc
Buds-Pesth 11sc and Antwerp ssc. on the
decline noted above Sept went 10 74ssc and
then reacted 10 7issc. on The decline noted
above sept went 10 7+5sc and then reacted
TO i4asc or the reported decrease OF
$4,000 bu- IN the official visible, as
compared with an increase Of "a. go bu last
year, but IL soon fell back to 1issc again |
july In the meantime sold at 735sc. Aug. at
1534c to 755sc and Dec. az &C, the latter be- |
Ing offered al 76ixc. Clearances for the day
were reported at 10000 bu. There was & lit |
lie better tone exhibited after this, but the !
market was unsettled There was some buy !
ing here for Toledo and outside mills but |
Ihe demand was By no means urgent, and |
10 10 red went 70 3zc discount from Sept. !
Inc announcement THAI 1,O15.0e bu. had /
been bought in Texas to come 10 this mar |
ket had some effect and all outside markets 1
Isled. the sept option here sold back 10 I
.oc and at close was &c OF for the day at
IiBc buyers. July brought 7a7sc ard closed |
sc lower also at 1850 sellers. Aug was PC I
on At fatsc DID, and Dec. was uoninaiIy le |
down at 7Sssc.
The strong buIlish sltua ton noticeable In |
corn OF late disappeared completely TO-DAY /
and weakness and semiden.oralI cation -Ooi I
us place. condition of affairs due to the 1
breaking or the drought that has prevailed |
IN the West for some little time rains /
We're said TO have fallen ali over Nebras- /
IA and Kansas. 8n6 had extended eastward /
through lows Missouri and Illinois AMI
into ontario. and were still falling. The eff /
IsSt OF tins downpoqr was disastrous to
time but one desire was shown by traders /
ana that was to get out of their long corn
cuteioe OF a Few shorts taking their prof-
1ts there was no support 70 the market and ,
prices declined rapidly and uninterruptedlv
receipts were rot SO large as they have
been OF late they amounting to 745.OGo bu,
against 1900 bu. q year ago. Including c.
80 bu. locally against l76. 500 bu a year ago.
Inc total shipments were sI7Go0 bu and
the exports Ss.eag bu. The visible s,ppIy
"ae increased $4,000 bu-. against q decrease
OF ozs.veO bu- year ago, and the amount
on ocean passage fell off $4,000 bu, against
1g.Vv ou- decrease last year.
The opening for Sept. here was Ic lower
~ f2isc. and In the next half hour Ii was
ihe Liverpool cable was of ID, but the
eeaboard wired that 81 loads had been tax
en- for export, which had a strengthening
erect sept sold OF to 392tc rallied to
G1<c. ana az the close was SIC lower for
tne Gay at 1oc bic. July sold al 1870 down
70 and closed with buyers l4.c of at 3siSc
ear SOLO and closed Si&c lower at 361sc.
But little attention was given to the s-,ec-
cIative oat situation during to-day trad
ers having about all they cared to attend tn
IN wheat and corn. AS was to have been I
expected. the market declined ir sympathy
WITH the other grains. and Sept. sold at Pc
70 Shc. closing isc of for the day ar that |
bio. July closed &c lower at 23s5c nornfnaI
Ssop bu-. against sss 600 bu n wear ago:
tstU bu- arrived here, against "a a.l IN |
last year. The shipments were 1 org mn bn |
ana the export clearances go, 200 bu There |
was n decrease in the visible supply of tLis |
country OF 2e9o bu.. against 100 bu, de-
crease ons year ago.