The St. Louis Republic., 1900-06-20
REAcTIONARY MARKETS
DECLINE IN PRICES.
THE UPWARD MOVEMENT OF
GRAIN RECEIVED CHECK.
Wheat Led in Point of Weakness,
as 1t Had in Strength, and Lost
Over q Cent in Price.
Qmra RpnlbliC.

CSy were not IN lIs iedSi stiASs~aNhsN'' ~.'N
as compared with yesterdays proceedings
the speculative situation In general way
was in very marked contrast. inasmuch a:
where strength and bullishness were showr
then. weakness and hesItancy were the fea'
tures to-day. There were no mild and ex'
cited bulges, they being succeeded by
decided react!onary feeling. which took ths
place o. the strong buliish feeling that has
been so conspicuous the last day or two
and ar all round let-dowr in prices follow
ed. wheat leading IN this respect. as IL mas
In strength and bullishness Pit operations
were not near so lively and heavy. inter
vals Of dullness being experienced. ana
there were times when the pit was,
10 all appearance. deserted by traders.
1t was an of day, IN fact, for the
bulls the markets all opening easier and
closing considerably lower for the day.
Conditions, especially those affecting the
crops were almost reversed to-day, and led
10 a greater selling pressure than has been
witnessed since last week. and as natural
result. the let-down mentioned took place.
Fighty-cent wheat, which was brought so
corspicuously forward yesterday. almost
disappeared from view to-day. the strength
so very prominent then having given place
TO quite decided weakness and much lower
rrtces going on record The market here
opened easier in tone, with prices sharply
lower and further sold of later under pres
sure OF both bulls and bears. who Influenced
by bearish conditions, sold freely. Chicago
vas again a great factor on the bull side
and more than once brought about a change
for the better. but Il could not hold the
market. being overpowered by the bcar!sh
conditions and a selling pressure that could
not be withstood, and as result, there
1nEl nf n
gain
Buying support came to the surface late.
being brought about by a statement said to
be from the Minneapolis Market Record, to
the effect that the present conditions indi-
Gated a crop of only l25 10000 bu. in the
three Northwestern States, and that only
100000 bu. would be available for ship
ment On the strength OF this July wen: Up
again weakened. however. and at the close
there were sellers 7s&lc lower for July at
"z4anSe ana 1sgle on ,i for Sept; at 1stc; ;
nominal and June &c lower al 1452c nominal.
The corn market was very dull and to a
considerable extent embarrassing. but little
trading being INDUCED in during the day.
Wheats erratic course had great deal TO
do with the price changes that took place at
intervals, there being little news of any de-
scription received Receipts were again lib
eral at Western markets, being reported at
cluding s., Loo bu. here, against ,95e bu. last
year. The shipments were 5.s,c00 bu., and
was an advance Of I'D at Liverpool. but ex-
pocters said that they could do nothing
abroad. July at the opening was offered asc
2gs.c, only to fall back to Ss7sc. Sept. brought
4ec and later sold at 3elac: The market was
duller than ever toward the close. when
July was offered at 3sl4 q39@sc and sold at
:9lzc to 1885 Sysac, closing with sellers 1sc Of
for the day at Ssasc Sept. late sold at Sy2sc.
it closed. June closed nominally unchanged
at S512c.
In sympathy with wheat and corn and the
more favorable weather. oats to-day were
in freer offering and weaker, though the
losses in price were comparacve!y small
Sept had sellers at ana sold at go down
July. on the other hand. was quite well
sustained and closed sc lower at 231sc bid,
while June was nominally unchanged at 2ic;
bu., against 200 bii. year ago: IS ie0 bu
arrived here, against 800 ht. Shipments
were sss.ooo bu. and exports 1iS.oo0 bu-
The most effective OF the usdrIsn condt-
tions brought to the notice Of traders this
morning were the reported rains IN the
Northwest. some Of them said to have been
beneficial. and others right where they We're
most needed; that is to say. In North Da-
kota and Minnesota AT the same time
winter wheat sections This starter was
wheat, both here and at Chicago. Absence
of speculative support added 10 the weak
ness, as did the earlier cables. Liverpool
and London. In response to our big bulge
yesterday. showing advances of I'D and
shortly became general There were several
reactions during the day. but they. did not
chief speculative option the difference be-
tween top and bottom prices amounted to
nearly &c. though the actual close was not
near that the loss for the day amounting
to but &c to lie.
The offerings were heavy right at the
opening and the July option sold then at
there was q further break. owing to Chi |
cago's tumble. to 77ssc sellers. In the mean |
time tim. Sept. which was even weaker ss than
early Ietdown was quickly followed by a |
sharp upturn at Chicago. which carried St. |
" who hsd usf sG Day seBy
Sp to s Rgan an % SessH.ss H sha ana sfpa aness s
soft spot developed. and the market a0:nsi sosd
ss!s sns a.a down gss'iiSssss ieTsE
Aug: brought xltRopeh Repe the 'G Chinese Mne
trouble appeared TO have no effect upon |
s2 aeens II II Gnssn e sToa Is
Liverpool closed at 1,sd advance. Paris was /
lglhc higher, and Antwerp up 1@111c since
were encouraging at $4,000 ba. @ -four ,t and and
wheat The realizing at Chicago continued |
ana the enect was to hold our market
down. but July did not sell below 767ic or
Sept below T7sc.
Trade Gossip.
--latest nail advioes TO 70 show that IN IN.
favorable for the preparation Of the iand and |
msnt Wss ists Mail adviess from eosn Hnstrss
;t.iss thss 1, looked though .as total crop
half OF last year. In India the monsoon rain |
currents were not developing favorably.
-Beegbohm reports the European supply OF |
bu. last week and s,ieosoo Su. larger than a wear
Ago. when tho weeks decrease was ls2o 90 bu. |
Two yea-l ago there an increase OF i iso 900 |
DH but the supply then was 10. 600 bu- smaller
The OCEAN freight markets have been quiet
owtnS largely to the recent advance In wheat |
which has checked. for the time beins. the in
lsress in full ca-g? steamers. Tonnage, how
naSer. Berth terrls are steady and unchanged. |
On June 1 last July wheat closed in Chi !
cagp at se7s QS7c. in ST. Louis 6fs.6pT.c in New
york !. at 12Sc ond in Lt-e,pooi at equivalent to
option was Ts%9Mc in Chicago 7shc in St |
louis and SIC In New York and this morning
he price N IAve.pool was IS; Csc. SO that C:li-
!kc more than New York and 57sc more than
Liverpool
John Dennis. the Baltimore exporter. who
vas On change. rather looks for such trouble
wheat Will sell very much higher.
-Geotre Reichert o: Free5urg. III, brought
.plenaid aSsfinen o: the wheat grown In his
.sstign; ss,ag ~ Hh.s wheat vas supposed to be IN
A telegram from Cape Girardeau No.. to the
:. r. Williams Grain Company. said that weather
Inc and new wheat would be in to-day.
-MinneepoAD v1y>ss: Rain reporsed failing
rom W:nnipeS. Junction north on Duluth and
a |