The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-08-15
CORN IN THE LEAD
CLOSING SHARPLY HIGHER.
MONOPOLIZED THE ATTEN-
TON OF TRADERS.
Wheat Showed Strength Early, but
Weakened Later, as Also Did
Corn, Closing Better.
Office Republic.

The grain markets here. although clos
!ns somewhat better, especially in the case
Of the cheaper grains. did not come UP TO
the full expectations Of traders, the wtnd-up
being rather a disappointment. There was
a well-defned change for the better in the
positions of the various markets this morn
ing, they starting of IN a manner as 10
give the impression that before the day
was over they would make further progress
toward q petterment IN tone and price.
This hey cid do. but they were unable to
hold the Improvement and the close was
considerably of from the best prices OF the
day. The feature of the speculative situa-
ton was corn, which resumed Its position
as the leader OF the speculative markets
and most CT the time monopoiized the at
tention OF traders. There was strength
enough and to spare IN this grain, and other
grains responded quite freely, but at no
time could compete with II IN point OF
strength and gains in price. Owing TO the
strength ,isplayed there was a large al
tendance Of traders in the pit and more an
!mation was shown. though as far as that
Is concerned there was plenty OF room for
improvement. The turning point In the up
ward movement was reached shortly after
meridian. when a weak feeling was derel-
upend, which was followed by a Break In
prices, especially In wheat. and that grain,
after being higher, closed steady and I'M
changed to only sc better, corn on the
other hand showing a gain for the Gay or
&c 10 ls95sc and oats &c 20 &c.
The selling pressure in wheat SO notice
Bble yesterday morning was not near SO
conspicuous when this market opened up
Today, and for some time af.c- there was
q CDpj sfropv rlrlprfnya md hsTrpr priCaS-
There were several good reasons for this.
among them being the bell I that a reac-
ton was in order. which was strengthened
by the fact that there was but little wheat
offered for sale. the great strength shown
by corn. tho large cash business Of yester-
day and the good demand developed right
at the eend-oft. The crop movement contIl-
ues heavy. the arrivals here to-day being
III, 800 bu., which, while 2i,S09 bU. less than
those of last week. We're i5i.IU bu. larger
Than those Of a year ago. and the stocks
iI public warehouses showed an increase OF
l21,v1 bu- n the past tweniy-four hours.
Chicago and Kansas City also reported
large receipts and the Northwest Received
aus cars. as against 20 a week ago and It's
Il year ago. Under ordinary circumstances
these In themselves would nave been SUM
,isnt to have given the lnarhet a bad SEND
on, but, as heretofore stated. there was q
ieeling that. a reacuon Was due and trad
CHS worked for IL. There was nothing eSps-
cially encoUragtt in the early Engllsh ca
t.es. which reported Liverpool only tsd be-
Ter and quiet. ana the cargo nlarKet at
London 0d-et ana unchanged. I.Aiortcls
ALSO had little that was encouraging 10 Of
Ter, they reporting Few caoles aiiu no ac-
Ceptances OF nour or wheat. Weather coz
unions IN the Northwest were more ]setticu,
AID an Illinois state report gave the YIELD
uf wheat Ter that State as the largest since
LOTS.
The initial prices here were not changed
materially from those o. yesterday. Sept
starving Of unchanged at Ti-sc anu DEC. &c
better at i4.sc. out they at once commenced
~ Improve. as the clusing Liverpool cauieS
reported Esd ADVANCE tor the Jay. Sept.
sod UP TO 1ls4y ;sc anu Dec. 10 iissc-
Oniy Two Continental markets were heard
from ana they We're lower, Buda-festn sc.
but Berlin Only isc. The export clearances
were small at -2i,vu bu. BraCstreets state
lnelt was bearisn. 1t showing $500 blu. In
crease In the worlo'S visible, against a De-
Crease last year OF Loo, W. Uu. Inc available
Last OF the Rockies was also increased 49,
% bu. moro tnan the Official visible. OF
course this did not ne.p the market any,
her old the generally unIaNorabIe cash Sit
uation, though Chicago reported 4 good
.dsn business and the seauoard 10 loads.
Iaere was 40 buying support late, ana the
little speculation INDUCED IN was wholly
!. Confessional. Inc market gagged down ana
al ne close prices We're at the bottom, Win
sept the same as yesterday at ilssc sellers
anu Dec. l-ldc OF at i+hsa3tc, oct. anu
aug. closing nominaIIy tsc lower at iZhsc
ana ilssc respectively.
The failure OF the rains expected in Kan
-saS and MLssourl ana the higher tempeTe-
tuEe throughout the West revived the
fears OF damage to the crop, and although
there were no reports OF This nature TINS
morning, there Was 10 disposition shown to
sell corn, and plenty OF buyers. Then the
feeling was stronger in spite o. the Illinois
State report giving the condition as "a and
the area al ~o,0Jl,V5v acres, indicating a
Yield OF 2si.O0O,ovu bu. Receipts at primary
markets were small at 3t5.eo bu., against
,4So.Uo ou. q year ago, including S9.zU bu.
mere. aR2lnEI Sh .sD hlI last wear Una hln
ments were 2ya,vv bu. and ciearances oSJ,-
wv blu. According to Sradstreet's the avail
aols supply was decreased l,1sJ. 900 bu,
where lie regular visible decrease was l.l2J,-
yS bu. The opening for Sept. here was at
&c advance at S6iAc, from which it sold up
10 &c without a setback. Oct. brought So@.c
an1 shortly after S6Ac was bid. Deg. sold
erpooi c!oSed ssd higher for the day. and
chicago reported 2v,OUv and the seaboaru
" lcaos sold Tor export. but this market. In
stead OF improving, commenced to weaken,
partly In sympathy with wheat, and at the
close there We're sellers at 36L. d36tsc for
sept and at SSc for Dec., the latter being
the same as 1t closed yesterday, and the for
ner t-9sc higher. Aug. ciosed i1c higher
at S!Ac nominal. Oct. nominally 3ac up at
$3.50 and year unchanged at 52S4c nominal.
The attention Of traders being taken up
with wheat and corn. the future cats market
was neglected to-day. and it was without
hid for Sept. and 2itsc for May, but these
were not mentioned afterwards. Aug. was
,:ominaiiy .1c higher at 2lc. Western mar
ket receipts We're $1,000 bu, against 10000
bu., of which IS. 400 bu, arrived here. against
S2,4o0 bu. Last year. The shipments were
leported at $4,000 bu. and the exports at
o5.vO0 Blu. E.radstreets reported an Increase
in the available of 10000 bu., as compared
with $4,000 bu. decrease in the regular Wis
ible, indicating an increase Of $500 bu. at
outside points.
Trade Gossip.