The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-19
CORN SLUMPEO AGAIN
AND WHEAT BROKE, TOO.
PANICKY FEELING OF CORN
BULLS CAUSED DECLINE.
Provisions Alone Remained Firm,
Wheat Dropping Over a Cent
and Oats a Full Cent.
RETUEIIc SPECIAL.


Chicago. July fS-The sensation or 10
day In the grain market was withheld III
near the close Of the session. when the
tired bulls in corn. who had been ''"ihs
the absorptive capacity Of the buyers on
breaks in a cautious and tentative iaShlon
suddenly let slip a larger dose than could
be quickly usSimilated. and knocked the
market into state of collapse. Not only
the corn market suffered Icy that. but wheat
and oats as well Provisions alone resist
ed its demoraiizing influence. Wheat closed
ll.c lower; corn ic. and oats ssc.
Wheat.
Wheat opened nrn at about &c over the
closing prices Il the previous day. The con-
hdence IN higher prices had. however re-
ceiyei So rude n shock by the recent h'aVy
decline that trade was unIrepaTed for an
immediate reversal Of the markets. pre-
v:ous declining tendency. There we're,
Il erefore. many reseIiers on the moderate
advance.
The crop news concerning the domestic
situation was uufavorable. Liverpool opened
at an advance OF ipi and closed at I'D net
Improvement for the day. Chicago received
20 carloads, against l2g year ago. Min
n,apois and Duluth Isl. compared with iIs
Tie receipts at ~. Louis were rc.c0 bu
more than for the similar dag Of last year.
Kansas City li1coo bu. more ana Toledo
lii,v-r bu. less. Galveston received only 2',-
90 bu. The total a, chief Western primary
markets was 1Si 90 bU.. against l,ooo.voJ hu
the ike day of ls99. Kansas City receipts
were largely Of wheat through billed To
miliers, SO ;hat very little could be had
there tor the niling of buying orders sent
Tom chicago. Pans quoted &c d bu. de-
cline. ANA Antwerp was without change.
Trading was on a much-reducei scale. but
there was no appearance Of further liqui!a-
lion, nut. on contrary. more OF a desire
TO conservatively add to previous holdings.
Sept. wheat opened with from ..Ssc to iI"sc
6nd. after fuctuating for a hals hour. be-
tween '.LGii'sc, had short sick spell, dur
Ing which II dropped TO 0isc II soon re-
covered again to the point IL started from
and then became very quiet for a cousii-
cradle time. The Clearances from the s,a-
board were 2Il.vtv bu. III wheat and Hour.
The unexpected happened In the last hoHr
OF the session. when renewal of the pam
icky feeling among the bulls in corn pre-
cipitated u break Ia wheat. which at tina;
tiine was holding firm Sspt. wheat. which
had sold at high as U7sG;Sc. dropped to
16'sc and closed al 76'sg7oi.c.
Corn.
Corn held arrnly till within forty minutes
OF the close, and FOR time gave Indications
OF having overcome the bearishness with
which It had been impregna;ed by last Sun
days and Mondays rains Such apparent
hrmness was disSipat tied. and renewal of
the previous two days paricky endeayors
10 dispose OF long corn took its place. Hold
ers Of corn were anxious ID get rid of their
bur1en on any Improvement for a lasting
TaI!y, and there We're no anxious shorts
To Insure q market FOR the unloading proc
ess- Inc bulls crowded their offerings In
f"verish competition. With the inevitable
result under such circumstances, that not
much could be SOLD until the break in price
had assumed serious proportions.
The opening prices Tor Sept. corn wsrs
from ss'sc to 5%sc. and before a reaction
set In ioc was paid for q little. From that
point commenced the decline that gathered
impetus like bowlder rolling down a steep
incline. and II did not stop until 1t had
sohed Ssisc The closing trades were at
se'sHSesc- Inc crop reports We're I'm the
main favorable. even allowing some consii-
erab!e damage ia spots o: Kansas and Ne
braska
The local receipts were scS cars. against
90 last year The estimate for tomorrow
Is sd cars. Total receipts at Western pri-
mary points amounted to sG9.v!0 bu. against
SlS.up bu. the year previous. Atlantic port
sls;;Ts s were 2iosve ba Liverpool quoted
Lane. London, reported Is per quarter de-
cline since Monday in American corn. and
from sd to Is decline in Daunbian. A good
shipping demand was reported. but less bust
ness done than on the previous two days
Oats.
The oat market was very steady and
rather Inclined TO hrmness uu,ii
TO tumble in Sympathy. ID 20 Within forty nt
minutes of the close, Sept oats fiuctuateI
only i.c. but soon increased the range to
&c peNNeell lfe extremes. and at close.
Asc under yesterdays price The closing
quotation for Sept. oats was 2sssc.
Business was far from active except when
the concluding slump got under way Local
receipts We're light. only 50 cars having
been Inspected since yesterday morning
The estimate Is Ia for tomorrow. Atlantic
port cleaTances were small at Ash bu but
New York reported $1,000 bu sold for ex-
port
Barley.
The market was neglected. with little
business, transacted and only car Of barley
offered for sale. Yesterdays prices contin-
uei 60 rule. Mailing grades were nominal
ly quoted at &24 isc, feed lots at $50 2c and
screenings at Siu3Tc a bu. Receipts were Z
cars and shipments 5322 bu.
Rye.
a steady feeling prevailed for rye. with
little business done. July started at $50
e3t.c and stopped with &c: Sept. openei
where IL closed yesterday. OF 54iac jumped
TO o3ac and broke again TO the opening
point, at which II closed: No. = T. O. b. sold
at S4sxgoSc Receipts were = cars. all told.
Range OF Futures.