The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-02-25
WHEAT GIVES WAY TO CORN.
TIL. HEARS IIiHOt GIiDI TItE.
NEEh MERE ~ tONTNoi oE
InI az uiRkE:I.
THE LOSS WAS TWO CENTS.
Corn. "n the other Hand. Was strong
md Higher. Win u " rii-D"tiued
Hull sentiment.
CLOSING pNEN y ,ENr Up.
Office !. Republic.

Once Republic.
SATURDAY,. Feb. -. go.
There WIS "a very decided and marked .iif-
ference fl 'he position ri wheat and corn
( daring the week closing ~tp-!aE. q difference
that was emphati.tily in favor Of the
| cheaper cereal. The condition e the wheat
! markets OF this country has been uniayor-
/ able for holders AMI advocates Of the long
side all through the week. and thry have
met with nothing hut r,vcrSes and dIsdp-
Uoiutm,u;S, the market being nearly all one
way. and that toward u lower i.y.L ON
the other hand. tho cheaper ccr"al, corn,
waS just the opposite. a LJl!i~h sentiment
prevailing Ut all times. which some cA-
tr'E~lE -ufIvuTdhi. news and ccU~ideca-
riuI~ ,oI-.i not affect. and thu result has
been that. instead of weakness accom-
panied ~ lower prices. as in the ease Of the
: higher priced grain, this market III th-' ugh
IL, W'-k has been strong and higher. and
has taken the ..dd in the speculative s!tJs.-
tjUH Of the country. closing with Il big gain
ia H. credit, LUIl!~h in tone and with Il ri~-
ing tendency 10 Yal.-s. while the closing
figures Tor wheat We're largely lower ana
TIL tone h-ariSh. In a trading way The sit
uatiun her" all she way through has been
disappointing, the public sun sh wing 4
! marked disposition tn hold aloOf, while the
! professional element was cautious and the
daily PIT operations on Il small Scaie and
chiefly Of Il s~ca!pirg nature.
Whatever there was of an interesting na-
ture in the weeks local Speculative
| grain markets from a bull standpoint
was confined exclusively 10 III" cheaper
cereal, in which all the strength Of the sitU-
alton WAS CentereG. the wheat market be-
ing in a condition that was only favOrabis
20 the selling side. Developments of a
strengthening nature in :Eis market have
been noticeabiy scarce. and came at such
long intervals IS 10 have 10 material e.
feet either on prices or tn. sentiment. the
result of which is that the week has been
MAD" conspicuous by an almost unirter-
rGl.'d decline in values. Liquidation and
selling for short account have been we'll
defined features. and tn. week has dis
uuSu:Shei Itself Icy making a lower-nricei
record than for weeks. There are very few
items of news that could be construed as
encouraging To the long side. In the first
iId'" IN" caSh WAS even worse than il has
7 been. cable dcCcptalceS and shipments be-
me small. and q good part q the time for
'l&HtTS. iuSt"a! Of buying, were selling,
which Was especially true Of the French
! English and Continental cables held out but
h;tte that was really encouraging. Though
tn'Te hdv" been times when they have been
-NNA~ F'-r' NAAa go AANa ~ AAA. .fEtf' =" u
ter In a statistical way pretty much ~
. "rythinE received favored selling. The rc-
| crIHiS at Western markets. and especially
| IN the Northwest. We're liberal. farmers ac-
oepttncos being large. The worlds ship
/ in-ntS We're reported E2.ns, la. larger Thin
: the week before. while the amount on
/ ocean passage went on record with an ill
crease ~ over 300" bu-. as compared
with "a decrease last year at this time Of
.''.c,' bU. The visible Of this country ana
Br'idStr,ctS iGurc- on worlds stocks ,c-
.r".'S"t. thr former by J>5.ctp bu. and the
natter 10y $500 hU. Early cables noted a
decrease of l..0V.t.1 bu. in the English Wis
ibl". but an increase of l.Gy1.otp bu. in that
of Europe: This was by no means all that
The bulls had to contend with. the Argeu-
tine shipments being the heaviest ever
"noWn for any one week at this season.
There was very little to offset the above
array Of depressing factors. and. in fact.
all that they had that could be used to
their advantage Was the weather cundi-
tons, thCr" being quite a drop in the tenn
perature during the week. which. however,
uld not always come up to- expectations,
and the u~nicniable strength and hulliSh-
ness shown by corn, with an occasional
higher cable from the Continent and the
/ Ui'"d Kingdom. There was no real buying
support. and M Speculation. either on pro-
i'Ss!untl or outside account. su,h trading
as WIS INDUCED liz being chiefly Of a Sc H.
ing nature. All through the week there was
- selling pressure. which never appeared
I" 1T up. prices sank DOWN almost Unt"T-
rUFtedly. reactions being few and far he
tween. There was an attempt made tod y
to bring about a reaction, bat II was only
partly successful. and The close was even
lower than that of yesterday, Will" the
weeks record WAS At or near tn" lowest.
IN" Fer. option losing Il a loss oL T., at
So" nominal. May showing "A Total decline
of 2. at 6S'sc buyers. while july. which
during the last few days uf thu week has
born" the truut of Nh selling pressure.
o'os.d 2i4c of. at C''sc sellers.
The local corn market all ,hrou-h ia
week. although undergoing some f.w :--
VERSES. nom al which wer" very serious.
however. has proved a winner IL tn long
run. anl to-day ci"srs wi:h q gain II pric
extremely gratifying TO TN" advocates and
believers ia higher values. Sentiment irCi'-
+ ably has had mere To- do with IN" strength
displayed throughout the week Than duy-
+ thing els. the news and conditions having
an influence. upon this market not heinz
near as bUilish az the former. Tha "r':
movement from In" country te I~""-iyir
FONTS was large. as a rule: r"n!-'-
"tF;anc'+ being Oh a lihe..!
The foreign demand. which was "a
+ ur- last week, WAS not near 80 a..
I for the other side at intervals, a cab
generally brought reimbursement Tn
lille iucrcas- OF this country was small g.
| luJ.rt' bu.. and the amount afinat va
! creased 10000 bu.. BradstTccts report 'r
an Increase In the available supply 81 =
"p hu, but the weeks export cl'arSug =
| from Atlantic and Cuff Forts were GI';'
| large. The market held up remarkably " I
al through the week. such rcvcrscs rs i:
/ received soon being overcome. Chicago was
! strong and htilish all through the v""k.
which helped the bUliiSh sentiment her.
| Nothing new Of Importance WIS deveiopr !
| to-day outside of the strength that was
displayed all day. and which resulted in q
1 recovery Of the previous days decline. and
! closed the situation sharply higher for the
week. Feb. being quoted &c better at 3s3"
nominal. May lac higher at 3F-c sellers.
/ and July I-isc or from last Saturday at
. %3SH3fc asked.
LittIs or no speculative interes. was taken
in oats locally during the week. and owing
to this fact there were no i'm; urtant dsVsl-
| GpmcntS ar changes In price from the time
| the situation opened up on Monday until il
| closed this morning. As far as speculation
! * concerned there was none. and IT WAS
! seldom that a trade was made in the nit.
\ stronger tone prevailed most of the time
in sympathy with corn, and. as a result. a
small Improvement took place in values,
but at the close to-day Feb. was nominaIly