The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-08
WHEAT SELLS LOWER,
BUT CORN MAKES GAINS.
SPECULATIVE CONDITIONS IN
GRAIN UNFANORARLE.
Especially as Regards Wheat. but
Corn Has Shown Il Good
UndertUne.


to-day grain markets have been in an al
markets. with the single exception of corn.
which has evidenced q good deal If
strength. declining sharply and showing
more than one evidence OF weakness. Pc
sides this weakness and the declining ten
dcncy OF values. TIE. various markets have
been duh aHI AT frequent Intervals trading
was tame and stupid and without particular
feature OF interest. particularly from bull
standpoint. During goOg part OF the time
the bulls appeared 10 be without courage
or IcsTsssIv.aes-. and made no rea; COM
biECd attempts L check the downward
course az prices. which in the case - the
kiEher-pT!cei Crain vas almost uEiuter-
rUpted ai times interest a. usual was
chiefly certcrei in wheat though tovlrl
the close corn CANT. in for its shdre. The
high price for wheat was reached last week
when thu dollar mark WAS prominently in
view, and II becam. almost a reality. but
didn't. and sine. then has dropped COM
pl-.,ly out OF sight and the minds Of trad
crs. The elimination Of the late upward
movement "i prices has been followed ~
serious reactions and greet irreGulaT'ty in
the actions Of this market. = stat" Of affairs
largely du- u heavy realizing and u change
TOR the better IN crop ANA weather c1ncI-
tons. Spe' IIIuon throughout the week mas
been narrow and isat":eI'~'. sin.tiin"s be-
I'M. extremely dui! and nearly all u !he
time special features were lacking.
The downward course Of va!ue< started
with tn first Regular tradirs day Of tine
present month when a it break was re-
rGrt-! throughout the We X. the T'acil'ns
being AZ in'requvnt Intervals ami gem
orally irsi@uificaUr. The loss in price for
the week has naturally been 4 heavy ne
, and today finds the market here from rs
To g l.wer than on last saturday. This
decline. however. was rot sufficient 20 wipe
frHF. = !
gated go .h- background f.r the present at
least. and the number OF traders who sun
cling u -" bell L. higher prices. which
belief has u some extent l. Ell strengthened
by the attitude ~ the foreign markets. fh-y
being ns.V uS over TIL serious state Of af-
-. the marked i,nP-'vcm. nj in ths cash
situation having some thing 20 DO with this.
one f jil- chief Incentives TO q lower level
OF p'i-es. has been tn ail-rounf improve
ment Ia weather conditions. rains having
: fallen IN the Northwest and let M in tn
SnU' hw' st. 4.iyicss from III. fi-St-uain-d
stating mat the crop was improving slowly.
I but steadily HaTvt sting mas made good
. progress" n winter wheat regions, and actual
. wheat receipts are daily iuC-'a~ .rE. S;atis-
ties 10 greater or less extent have been
lost Sic:J If In view Of crop uiitipns. The
v"~li's sh.T nIe.js fsll below 1t1l.ot hr,.. rs
Rus ian exports w-ra less than Jr.o.., uu.
B-2cs-r-e'E reported an increase In the
world : visible of G4!"j hI.. acainst 1is.p'l
! bu. Increase last ye1r. while the avaiia Die
supply east ~ the Jckies WIS increased
/ iHio. bI Late H. tn week the Argentine
! shipments we're reported by one authority
I at l.Nsi..s1 hu.. and by another at 2.l5s 90
! hjI \ fairly large exp II business was done
, during TIE ~. <. sho wing that foreigners
were again coming into the market. For
{ tn week the cicarances were reported at
! 3,"lsS3 bU.. a. compared with 5.l>i !4i bu.
I last week. and S.'5S 5.2 bu. year ago. The
/ closing dag Of the week Witnessed a Iet-
1 DOWN on realizing. but the loss WAS slight.
! ftr IN" week the leading speculative op-
lions lost exactly lrsc. and closed at sc.
| July and Aug. declining Sc. closing at ,1i.c
| and 1ssc lower respectively.
| Values of corn have exhibited n decided
| u-der,one Of strength the past week. and
| the market in this regard has been In
! quite marked contrast to hat 81 the high
! - pT.cei grain The We kness and declines
! IN wheat have had only temporary effect
! upon the value u the coarser cereal, ami
! al the clos" to-day il showed an advance
! plants OF dry weather and the fears that
! the hot winds out IN Kansas and Nebraska
I vo-lc result in serious damage to the crop
J were received. but the generous rains that
! fen did away with this. and The general
4 crop -!tuatiCn was pronounced encOurag-
! Ing and satisfactory. The daily arrivals
| increasing. but there was a decrease IN
! the visible supply Of over lli9.GJa bU..
F.! while the amount afioat increased 95,.9'J
4 hu. Bfadsireets statement showed a de-
| crease in the avail I'll. 4 i.IiaoyU bu. The
! cables Were most of the time favorable.
| bu, foreign buying was light. and the en-
! ports compared with those Of last week
. and ,he same week year ago fell off. the
F., amount shipped cut during the week being
! 3rlt..4i hu.. against -ttHl..Ji bu. last @eek
! ard 3.sj>.s1a bu. last year. The local mar
f, ist closed of slightly to-day. but the price
| record Of the week WIS most encouraging.
| rs July showed a gain ii lac. closing at
! 42I.c while sept. @4q7sc higher at
! i5l2Ga.c.
! Cats attracted hut little attention during
/ the week. and features of interest were
+. few ara far ietween. There was little
/ a eCuiation iudul- n 1t any time. and
4 ro changes Of Importance in values. the
I close to-day showing loss for the week Of
4 only - for July. which closed at 25ssc, and
| 81 but l-I6c for Sept. which closed al
| 23ssc bid.