The St. Louis Republic., 1900-12-06
FAILED TO HOLD
ALL THE ADVANCE.
WHEAT COULD NOT HOLD TOP
PRICES TO THE CLOSE.
Corn, on the Oihcr Hand, Held Up
Very Well Until Late, When
1t Also Weakened OF.


was moro or less of It HiSail ON .' ,i'',a' =
the bulls. in3smUCh "a, II :ai.'a L" hold th'
advantage gained aur.ns ihe earlier hn''.
"f the session. and. whi." closing hi-Nr.
compared with Tuesday. WAS 'ui4-:'i. ran u
off from the best figures OF the day. In
soma respects the general sifGat.,H III Sr.iiu
at this point rrSrIml.,.d that "t the day b--
fore. especially dUTinI the fore part of In,
session but later il WAS the opposite. y
higher start was mad. and a stronger VIA
u'rtune WAS developed which iGaily cE.-
minated III a sharp advance in al grams
a more moderate impression being made up
on other grains. More huu confidence Was
displayed during ihs day than was VII
messed the day before. Trading was l!ve1ter.
and although there were the usual lei
downs. there wor" no serious sn;t si"lS
uutil late. Uhcn there VAS a turn III iHa
tide that wiped ont most of the early gains
and carried prices considerably below th"-"
made during the early hours. and the net
gains for the day were considerably on
from expectations
Bun sentiment 50 conspicuous the day
before. was by 10 means responsible for IL"
strength shown by wheat yesterday. the
upward movement being brought about 10y
the character OF The aaNices. ana ,si'tsi,t.-
ly the initial cables. These were unqUtsI
sd TO sd higher than that market closed
the day before. and Paris UP equal TO &c,
the last-named advance being due probably
TO the unsettled weather reported in France.
The responses on this side to these very
strong cables were surprising, and in par
ticular where ~. Louis was concerned, the
market, showing no special excitement and
only small Improvement In prices. The
cause for this was due to the fact that most
traders Were more desirouS to realize than
to add to their long lines. and shorts, who
were the chief buyers, iound no trouble in
getting what they wanted at the advance
The opening here Was at 14c advance IN
May at 1+,c. selling at If+41iAsc up TO
fiizc. Further incliritton shown 10 advance
was checked TO a great extent 10y the rtaI4Z-
ing, still the aboye-named option GlI not
sell below 1+i.q 'ttsc. and at one time; on
an unexpected demand. brought as much as
$50. The crop movement in this country
showed falling OF; the total al primary
markets falling 5S000 bu. below last year,
while the arrivals here were only S5.SS3 In.
for the day. The export clearanccs OF fiour
and wheat from the seaboard We're small at
Western markets was liberal. Late cables
from abroad were fully as strong as those
received early. Liverpool being reported as
closing i@u2ic better for the day. Paris
about f7sc 10 2'sc higher, Antwerp UP sc
and Berlin and Buda-P -Pesth both i4c These
brought out bids Of 7ll4c for Dec. and &c
for Jan. but failed to bring about trades
There were reports OF good. strong cash
and also reports of large flour sales At
Minneapolis. together with the statement
that foreigners were buying largely at the
seaboard. with 40 loads taken for export.
There WAS no evidence here Of the so-caIled
improvement In the cash situation and the
market failed to respond. In fact. there
was large amount of wheat for sale and
the market developed a decided weak spot
and sold off sharply. May going TO .4isUl.c
and finally closing only lsc better for the
day at .4l4c sellers. Jan sold at &c. which
was I4c up. and closed at that buyers, and
Dec. closed 1-c higher at 'l32c bid.
There was an Enthusiastically strong tone to
corn, which was impaired by talk of anoth-
er corner at Chicago in Dec. corn, which |
was being worked by Phillips. There were
other influences also, including light re-
and strong cables These factors de-
ve!oped strong disposition TO buy right at |
the outset. and on the strength of this Dec. |
opened asc higher at S5irc. and in a very |
short time sold as high 35a.c May in the |
meanwhile selling isc up at 357sc. The mar |
ket here continued TO display nrmness. but |
there was a little easing on in prices from
the top figures. The shipments were report |
ed large, the seaboard clearances amount |
between Sessc and S5a4c, and May, after seI,- |
ing on to S5a.c: reacted TO S59. csc. and Jan. |
the session there was a weak spot on let
Gowns at other points. and Dec. was offered /
at S1te, or &c better for the day. and that |
vas bid at the close. Jan. closed sc Higher 1
for the day at S5llc bid and May closed /
with sales szc up at s5s.c.
There was nothing to the local situation
N IN oats outside of the strong feeling shown
an through the day. There were no trades
Dec. being bid 231ac and May 2iasc. Recejpts
were smaller than last year at primary mar.
at this point.
ON THE CURB.Wheat lower: May sold
at I4c and that bid; puts tic to 7SSaSc:
eaiis ca ,41.e to 74Ac. Export business reported
al % loads wheat and 40 loads corn.
Traders. Go.sip,
crop sena,ianl a1l asSlse, from Europe show
iisiS s5g Haiahd ai' Essn: Eanss
weather Germany al eSpess S Msc to FeBSsi S5s e.
,soueS u ioreisn s wheat as their crop small
snd eonsiderabie sold other countries On c,
for Trance IA ara pSef ganty . Import Iequreens
T" g,i ,: nu b,eislnE and Holland, 50 100000 bu:
under ~ 90 b Su ss RepoTss qs , sg nl
nehsnees ~ ,d, very fav9rabe and Conditions
NM m neea ,, CT rain As practically charterins Is
sharp decne in prices OF binder twine and at, b4r.
was seT,o, ons Were that countrys wheat crop
AT convention Of Oklahoma gra.n-dea,.r,
sae cae, general % opinion was expressed that Is per
I'm Il hads and that iha, TSitoFy !. to
ssar. ssa1 60 rhsa1 hsa .p in Kansas s g
State holds bu which hnSs fafs.r ian as
the 50. 10000 bu. raised last year
One notable fact in connection with tn. al | Z
vance in Liverpool wheat was that the greatest
vaneing as much as the current month"; h'' Ti. aa
mad: 4 look suspciousiy like short na Scar. shla Ia
,n,. Mso far sor week III. public stock of whea, IN
=, was delivered on Dec. contracts and goes
Small stocks of spot cotton in New York
SSnsins temporary congestion TO cotton market
in oysebousht condan Should sS ienyhf market
70 change situation think market would break
sharply Advise caution long side and believe | /
sales will be profitable.
A Chicago telegram read: Stocks CT wbe., | ]
IN Hne elevators In the Northwest country | /
points Doc amber !, 1890 were SszS 90 bu ana |
visible for the same dates were 200 coo 90 bu |
N 1907 and 0s 600 bu- in Isse" II these figures
arc correct then there fucrease last |
month In the worlds visible |
Minneapolis reported a considerable improve |
lneGt In the four trade. which wac tho best in | :
several weeks One large concern reported good |
Faies OF hour during past day |
-Broomhal cables: Franco prospects of ex- | !
port bounty improving. This Is cause OF strength |
alluded to Is new law called bonus diulpor- | q
Iation. that viii Increase the bounty allowed | I
me muller who Srinds and exports -four made |
from FORE gn wheat This law is expected 10 | :
Increase tts importation OF foreign wheat. Why | :
lnat ehoui1 advance the French market is diff :
luit 10 u1cefstand The present law merely | +
renits tho duty on foreign wheat rniIed Tor | i
export. " | Il
Primary corn receipts. 7s3 Oo0 bu. against | q
100 bu year ago. including 81. COO bu at st +
Louis against 50, 40 bl. last year, and their r.
- 'pmorts SIS. 900 bu +
I's3..'aTy ost receipts. 4llooo bu against
I4J,T' uu year age. 2.,6o bu. At st. Louis |
IL 900 bu. |
Wheat receipts at primary points were 7l2 ese
ou-, as against all,s1 bu. week ago 7sI. .y0
'u one year ago, and l.54a.dC bu two years =
go Receipts at St Louis q. slg bu-, against
y 1Oo bu week ago, and Is. Go bu- a year ago,
Urinary shipments 774.9oe bu-
Cash Grain, Flour, Etc.
,asl. ,arlt