The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-10
GRAIN MARKETS
MAKE VERY FAIR GAINS.
THE FREE SELLING STARTED
WHEAT OFF LOWER
Corn Was Stronger and Higher on
Hot Winds, Which Sent Prices
Up and Caused Buying
Office Republic.

Ofice Republic.
MONDAY, July :, lsJo-
tn. different speculative grain markets
to-day gave a very good exhibition OF
strength. and their actions at frequent In
rervals Indicated that there were few
bulls left after their iats shaking up. AMI
81 they cid not have fun and complete con-
troll OF affairs. they were still I'm a position
to make their presence felt. The two lead
ing markets started OF quietly and lowe''
being handicapped by conditions Of a weak
euing character. which brought about some
selling and chilled any bpIlish sentiment
that may have existed previous TO the OPEN
ing OF business or change. This hod-back
of affairs lasted but n short time. the sit
nation suddenly developing considerable
s;rsngth. and al upward movement was In
sugurated by prices which assumed quite
large proportions and closed ali the grain
markets higher for the day. There were
several set-backs TO the upward movement
during the day. but they were OF no great
Significance and had real effect upon
sentiment. which became quite prominent
rs the strength continued 10 hold In the
face OF some very bearish conditions.
The unexpected happened IN wheat to
day, and what looked exceedingly like
bear day turned out to be just the oppo-
site, a sharp up-turn taking place uneN-
pectedly and strong market being had
20 the close. Cndeniahle weakness existed
right at the opening. due to some unfavcra-
BILE news, and this grain was only prevent
ed from breaking sharply by the great
strength displayed by the cheaper and
coarser cereal-corn. All the leading mar
kets opened UP lower. ard this fact, with
large receipts here and bad cables, started
ia nTT on fh.a fsrfp EiE .,F
the account and Sept. opened asc lower at
Isc, and 1t soon went to ,1S.c, the low price
of the day. There no support gwen
the market, except by a few shorts. but
their buying helped but little and only for
the great strength developed by corn the
declining tendency of the market would
have continued uninterrupted. Receipts
here this morning were beyond the expec-
tations OF traders. the ISJ, 100 hu. being
largely In excess Of those of year ago,
while the arrivals at four winter wheat
receiving points were nearly double those
of last year. Weather conditions were re-
ported as favorins harvesting operations
and the moving of the crop, but very dry
in the Northwest, while crop adyices from
that region were good. bad and indifferent.
Early cables reported quiet markets abroad,
with Liverpool or 9sd and London sd. The
worlds shipments of las, 90 bu. cyerran
the estimates OF traders. owing to an in
crease OF almost Lotv.5t9 btu In Russia's ex-
amount sfioat- which decreased sJpgo bu
though last yea the falling off amounted
to L2so. 90 bu.
The buying reaction that so quickly fol-
lowed the opening decline carried Sept to
Tsspc, and as high .y3s:I@.c WIS bid ,Iuly
selling at 71S.c TO 7sSsc and Aug at Isl
This was, In measure. brought about oy
Liverpool rallying IA from its earlier de-
cline and closing I'D Up for the day, and the
TACT that Paris was Sac better. Berlin
showed no change and Buda-Pe was on
~ nc higher. domestic cIearances were On
ly 2os,ouv bu and the visible was Increased
5000 bu- There was decline TO Desc ANA
a rally TO 80 In Sept and another drop to
'sssc. when the report Of u splendid cash
demand came TO the rescue. ana tnIs being
backed oy the statement that OUTSIDE ujils
were paying 5<S-1sc over Sept. Tor NO
red, gave prices another whiri upwards; md
the Gose kur Sept. was close u the bes;
price OF the day, at syo sellers july and
Aug. closed &c ana Csc higher. at .s..c pi1
cd to no Tor the DAY.
Corn was extremely strong this morning
ana actually helped Eheal out OF n bc,r
by impaT Ing some of its streng h 10 tar
- gram ihe oui.ish Influences at the ont
sci Were me adslces of hot, ury weafner
Jul IA Aaiissas and ->eDrasfAa- and the crop
wss suffering thereIrom The e,tects or
tiaa were al once apparent, and nothing Of
n
from starting on in 4 very UuiiIsn way ana
prinsine buyers III vita q rusn so rnat
SEPT. Nh.ch opened 1.c lower at 43c
w went aSAus up"a-o TO 4ic. 1hu receipts at
western markets were weIi in..iutalett a.
eAs,vo pu. against oIevUo pa. d year a4u.
lAcioSlAs is,tvv d. received locally. agaInSy
H1,oW pu last year. Inc snIyIients
amounted 10 .iz,veS bu-, ara the eAuorr
ciedIaAcSS 10 o-S.svv ~ TueIe Mas al n
Siease OF Zles.vW pU. II tho visible SUP
ply, anu The amount auoaI was increased
c. "A 90,
was Out 4oJ,vlo III. Tns advancing ten
cency OK the market Received no c.,,,t:k IN
IA SEPT oAousnt 4zxc, ana es hi5h as n a
1.se nao Deem DID, out the Iai g- inc1cc-s,.
posted N the visible anu The amu.nt aao.I
had q weakening euect, ana .segt. Sotn OF
70 1Ss<C, Dull again IaiiIsQ TO 81. ana
nEaily closed sc higne. ior the uay an
<JHs44c- DuIing the uay Cnlcaso rgp3rte,:
dig export uemand Tor cash, bu; local
exporters claimed they could no noth.ns
Win the cther side, and the bag export
demand turned out TO 30 ios,.s taken
at the seaboard. he Liverpool msrneL
opened I'D on. but rallied and closed al
nd advance Tor me aay.
The local oats market reflected the
strength shown by Nhe-t and corn, and
especially the latter, and during the oay
ruled very strong. though Ine.e was no
apparent increase In speculation. " eSteru
market receipts were 4Os.VgJ bu., against
<oo.vo bu one year aso. included ia wnich
were tu,vo Du- here, compared with ss.yy
pu-s ana exports 100 bu. the visible sup
ply was increased 2.ec1 bu., against a
decrease of $500 bu. a year ago. curing
the day Sept. sold at 235sc, when was l.c
better than Saturday. and closed at THAI
asked. July closed at lac advance at 2S,,c
bid