The St. Louis Republic., 1900-09-01
THE GRAIN MARKETS
WEAKEN AND DECLINE.
BUT SPECULATION ABOUT UP
TO THE DAILY AVERAGE.
No Recuperative Powers Were
Shown and There Were Few
Reactions in Prices.
Office Republic.
Ers.apxr AUG g' Itan

With the exception that there was all
round weakness shown during the DAY. the
speculative grain markets at this point IN
many of their leading features were very
much Ike those OF yesterday. Both weak
ness and strength We're shown at varying
intervals during the day and price changes
were frequent and interesting. Speculation.
while a little quiet at times, was stili about
mp TO the regular daily average of the week.
being neither better nor worse, and as usual
was largely of professional character, but
little outside interest being taken There
was no aggressiveness displayed by traders,
like there has been Of late. and the markets
showed lack of recuperative power, and as
a natural result the early weakness soon
spread and became ihe late feature of the
day, finally bringing about serious decline
in prices, wheat closing at a loss for the
day of 1kc to &C. corn losing &c TO 1sc, and
oats were &c better TO i.c 10 asc lower.
The spell of weakness that developed I'm
wheat near yesterdays close and brought the
upward movement in prices TO a halt was one
of the characteristics of the situation to-day,
particularly late. when it came prominently
10 the surface. much to the encouragement
OF the friends and believers in higher prices
There was little recGperative power shown
At any time and less aggrsssiveness than
has been the case on the part Of the bulls.
who showed more inclination to run
than to make a stand. The opening here
this morning was much better than the
good demand, and Dec. sold isc higher at
i5c, Sept. at 1l3sc and Oct. at 73c, the last
named being hc up from yesterdays close
This good start was made in spite of the
TACT THAT receipts were larger, the $3.50 bu.
in here exceeding those of last year by
ZOO bu., though 42,oo0 bu smaller than
those OF last Friday. Liverpool cables We're
SD lower also Besides this let-down cables
reported fine weather in England and
France. while Argentine shipments were
said to be foS.00 bu. by one and sSi.0o bu.
by another expert. The expected wet wealth
er predicted for the Northwest did not come
to hand and receipts there were larger. The
early demand was soon satisfied, and with
the withdrawal of the buying support the
market commenced TO show signs OF dis
Iress and in a very short while Sept. sold
on 20 n1kc and Dec. 10 Ate and, Oct. had
sellers at 72l.c. The reaction from this
commenced saggias. Late cables were not
encouraging. TO say the least. Liverpool
was OF equal TO Ic and Berlin and Bnda
Pesth Sc Ciearances were only .5l.otD bu.
wheat were heard Of. but they had effect.
and before the noon hour Dec. had sold a
'isc and Sept was offered al ne
There was no change for the better III
this market, although the strong cash mar
ket and the large premiums paid for No. =
red, together with sales of o0.00e bu. No. >
hard and 3l,to5 bu. No. : red for export.
were bullish influences. Late Sept. sold
down to uc- long stuff continuing to come
x,
sc decline for the day Tia7lisc bid. Dec \
sold of to I4c and closed SsI4ac lower at
I4lsHl4L. Oct. was sc OH at 121sc nominal
and Aug. was 1.c lower at 7l1gc nominal
Corn this morning was as weak If not |
weaker than the higher-priced cereal. but |
N the end did not lose 30 much ground the |
decline for the day being comparatively |
small Receipts continue to show up poorly |
when contrasted with those of year ago, 1
the days arrivals being 2sS1o0 bu., against |
$4,000 bi- last year. St Louis received 81 !
ments were 7S2. 90 bU- and exports 6l3.0O0 |
pu. The feature of the market early was /
The selling out by Sept. longs, owing to /
the fact that tomorrow will be delivery l
day. Then there were reports of favorable 1
weather for the crop. talk OF Increased /
farmers deliveries, the decline in wheat,
and unfavorable cables. There was not /
much for sale. but more than enough to /
have a bad effect, as buyers were few and /
shy, and Sept sold &c lower at S9c. while /
Dec. was offered Nc lower at a34sc without /
q taker. There was little. cash business
that late in the day this market was prac- |
tically neglected. Sept. sold ct SC and |
closed nc on for the day at that Dec. had /
. seller NC decline at 33ssc: Oct was Lc
lower at s61ec bid, year isc lower at 33ikc |
nominai and Aug, &c down at 39iac nom
inal.
The receipts of oats at Western markets
were reported at sos 900 bu., against sS5 900
bu- last year, including 500 bu. locally.
9 gainst $500 bu. last year Shipments were
4sS,coO bu, export ciearances 15S.oOo bu. The
effect upon oats. but there was no trading ,
ss usual The Sept. option was offered at
QSc. Dec at EXC, and 24c was bid for MAJ
while Aug. was 21i1c nominal