The St. Louis Republic., 1900-08-16
CORN UNCONVENTIONAL
AND CLOSED HIGHER.
AFTER ADVANCING TO 30l-2
CENTS, CLOSED AT 35 SO.
Wheat Lost About q Fourth Cent
and Oats Gained Three -Eighths
Provisions Held Their Own.
REPUBLIC SPECIAL.

REPUBLIC SPECIAL.
Chicago, Aug. lJ-Except that corn was
inclined to act in a somewhat unconven-
tional manner there was little to arouse
| interest in the days proceedings on change.
While the longs in corn have in all prob
ability no intention of running a corner.
they. being well concentrated, are in a
good position to give the shorts warm
squeeze. due to the oveTsold condition OF
that market for Sept. delivery. The price
rose from 37;sc to 391Sc, but finally reacted
to 3S7sC, or &c above yesterdays closing
figures. Dec. corn was &c lower than
Sept Wheat lost Is0Ac. and oats gained
hd7sc.
Wheat.
Wheat opened tame without the anima-
tion that accompanies market holding
large interests for number of people.
Values We're steady, however. at the COM
mencement in spite of reports from Eng
land and France that they were having
splendid weather for harvest. Liverpool
wheat futures were Ad lower when the
trading started with no change in spot
grain. Rumors were current ON the floor
OF a heavy aggregate of expert sales having
been made yesterday. much more than was
reported. Such reports could not be con-
tirmed. and the traders preferred to await
tangible evidence before taking them into
consideration.
Corn ruling strong was of some assistance
to the bull side OF wheat, but they got little
encouragement from the foreign demand,
during The forenoon at least, adviceS from
the seahoard being generally to the effect
that while tEere was no lack of bids they
were for the most part at unworkable
prices. The receipts In the Northwest were
again heavy enough to keep down the bull
ism sentiment, although the latter struggled
from Western points being as notceabiy
heavier than last years as were the re-
ceipts.
The primary Western markets receipts
were 1,,21 0l0 pu., compared with $4,000 bu
the year before, while the shipments from
the same were $4,000 bu.. compared with
only a3.oco bu. shipped from the same points
last year. Kansas City received 2s1.0u0 bu
and shipped $4,000 bu. Tne days, clear
We're 2O4,0oO bu. and 2l4,G0 bu. respectively.
showing that Kansas, like reckless spend
thrift, is burning the candle at both ends
That, of course. is the chief present conten-
tion of the bulls. who are patiently waiting
for the Kansas movement to burn itself out
Chicago received sos cars. Minneapolis and
Duluth 2lS. compared with 3S4 at the two
latter points the year before.
The auvlces from the southwest pointed
to the probable early lessening Of the move.
ment. quite independent of the influence of
Secretary Wilson'S prediction OF dollar
wheat, In causing farmers to hold 1t for the
promised rise. The seaboard ciearances Of
Orleans and Galveston mentioned above,
were equal to $1,000 bu. Liverpool! closed
at I'D decline for futures and unchanged
tor spot wheat.
Sept. wheat opened at from 744sc up to
7424n74'sc and closed at 74a4c. or is9hc low
er than 1t did yesterday: The hignest 1t
reached was 75l4c and 1t did not sell below
74ssc.
Shorts got badly twisted and were made
to feel that the selling of old corn short be-
cause OF fine prospect for the next crop
was like counting your chickens before they
are hatched, making your hare soup before
You catch your hare. eating your cake be-
lore You get it. or In any other way acting
precipitatey on an uncertainty; Small
stocks and large shortage .er next
low ebb, were the reasons for the bullish-
ness in corn and the anxiety of the Sept.
shorts.
Sept. corn. the closing price Of which yes
terday was S77sc opened with buyers at
from S77sc to CSC, and SShc was paid inside
ceipts were only al cars, with to-morrow's
receipts placed at only ll5. Atlantic port
clearances were 007 600 bu
Oats were strong, but not more than or
dinarily active and the strength was gen.
orally the result Of the rise i'll corn. Com
pared with yesterdays closing figures. Sept;
only l-16c below the highest point they
touched. The range was from 2lfsc to 2aD
22lsc, closing at 22c. against 2lssg22sc the
the estimate for tomorrow was AS. Ex-
ports from the saboard were the nsgnif- |
cant quantity. Of IS 900 bu. There were q lot
OF buying orders in Oct. and Dec. credited
to the Cudahy Packing Company, amount
Ing to 5o0.u0 bu. or more. There Is supposed
to be considerable long oats held by Cudahy. |
barley. |
A firm feeling was in for barley at un-
changed prices. The demand was good and
offerings were light. Mailing grades ranged |
from 3Sc to 47c. with feeding selling at o6c: |
4 EnlI
bu There were no exports out OF New |
York. |
Rye.
The market was firm and Nc higher at |
the close The advance was attributed to |
light offerings and the good speculative de-
mand There was some demand for cash
for shipment. but nothing was reported |
worked. No. 2 /. o. b. sold at 6lifc Sept. |
ranged from 6l2.o to 50l1c nominally. Oct. |
sold at 5lc up to size and closed at that |
nominally. Dec began at e21ec. went TO |
63c and rested at 52hc. Receipts were
cars and shipments nothing.
Range of Futures.