The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-26
WHEAT PRICES REACT,
BUT CORN AGAIN LOVER.
WHEAT SHOWED Mokh
STRENGTH AND JUMPED.
There Was Not Much to the Mar
kets Outside of Nheat's Strength
and C0rn's Weakness.
nH1ga RrD',liiF.



Wednesday. Juiy -. i"A.
The na~rcwness and professional ch.'r.'''-
ts- Of the speculative gain markets to-day
were again Indicated IS small III trans
actions on change. extreme ga!etHesS ana
a small volume OF business being features
that were conspicuous throughout most OF
the day There WAS little in the way Of
news CT Importance 20 give either bulls or
hears an incentive and the swing Of the
speculative pendulum IL this market was
confined % a narrow rut a considerable po'-
tfo! Of the time. Following yastgr'.ay'S de-
c9ire there was a r.aCtlpl:ry tendency
shown which however, was confined To the
higher priced grain, she Coarser grain, "w-
ing 20 weather conditions. continued 80 eX-
hIblt weakness and the maj figures were
nearly as much OF as the wheat market
was better
There was fairly strong opening ana
higher anish IN wheat to-day. bur aside
from this no features % particular interest.
q slow and tame market being che rule
throughout the day. The situation IN sew
e-al respects. however. was an improve
.nent over yesterday and the day before.
ard while price grains were by no means
large. thev served 20 encourage traders and
irapart more confidence 10 the bulls. Con-
siae-ab3e irvalulari'y was shown during the
earlier hours ami tier v 'ga many ups and
downs 10 values. but later the market
Sj-I,iied down and became quite firm. con-
Jiuuiuc 50 10 the close The rrSt incentive
70 sjr, myth vas tn English cables, which
I'D not show the declines that the markets
On this side d!i yesterday, and which was
attributed 10 the conditions prevailing
abroad. especially the China troubles ard
The uneasiae-s felt over tile uncertain pu-
sluon Of Russia and France, together with
tie fact that English cCGsols had not
covered over night Gables noted de
cline ~ IAFerQoo! Of only "a Up and Of ID
a. London.
Another influence tnat attracted attention
from the bulls Was the decrease II the crop
movement. the arrivals here being reported
81 l3h.t-'r bu-, or 6i.Iuy less ihau last Woines-
Gay. though they were nearly 2U.sJ bu
lorcer than year azu- Some uUrasiuuSS
was expressed over IN, continued rains, and
the Government report stated .bat harvest
Ing and Teaplug had been iucvrftr-d with 10
some extent These factors encouraged the
bulls, and led 40 some buying right At the
outset by both longs and shorts ana par
t.'tll,ltN the latter. Tie result OF which WAS
tEat the market opened - hLher Tor the
S,i.l. option. when sold ~ sc Dec. selling
81 .s' ana JUN having buyers 1T Ill2c. JEst
vheE Traders Were feeling encouraged ana
!. trdriEE 10 boost prices still higher there
Ne> an unlocked Tor -eC-d1Nu al other mar
E-tS. ami our own. in sympathy. declined
= ut- S'l!iH@ on 10 --:.c and B-c. to 1ta.c
lie cause i"T iaIS Nas tnr taC- t4,t longs
-,.'e!. us t.Ae hta ruhSiHe'ah!e II 4 bear
ASH Influence. declines for TIE Gay being
i.prrlaG az -.Hlze al Paris, lac 1t AutWrT ZIP,
- al i,e.'iA ana = 'lH ~ Liverpool. Buia-
I'gsth alone reporting sc advance Ky
inr;ers again asserted that Il was imposS!-
ttt 10 dc business abroad. the difference, be-
i'te"n this country and Europe as regards
I''.StS being entire ' too wide. tlearanc.eS
were again small they amuuuiirl. 10 bur
i.i's" hI, ana "a report came f.om Mime
5-ols that mills We're closing down owing
% tlrr" "'i1S 10 demand Tor -four. stocks
- which wgro accunluiating, larger receipts
'Ntt,''-i. 4l'-.tt traders. however. We're
more impressed hy The excellent outside
milling 2e1nai,. for cash here, ana which
isH. = over sept tor No red, the effect
81 WhiCh was to stimulate buying and
caused Sept. 20 sell at ~, 5,727sc. IL. being
bid fer iuiy, and .Jr for Dec.
The bszt influence here came late in the
Gay. when demand from Illinois milleIs
over Sept. for No. r,d. This was re-ef-
forced syill later by Chicago reporting J.-5.
go bu hard wheat from Kansas city and
oyi'" bu- sort CiF-ct. sod Tor export. be
sides the fact that a local exporting house
MAS In the market IRE =bUye naturally mai
very good bulISh eject and turing. the
rest Of the session Ih.r. wa active buy
;nG. On which sept. advanced and sold at
&c. ana closed asC higher for the day. at
De. &c Ur. aT .5isc bid. while July sold and
closed sc higher at use.
Rains We're again the dominating influence
IN corn. they being generous ana extending
from kasas TO the ohio, and these. with
the early weakness in wheat, gave ths mar
ket bad start. The bulls were 50 diScoUr-
aged that they mace no efforts 70 stem? The
downward rush Of values. rn1 the only sup
port that the market received was from
short buying for I;oft. The regular Gov
crnneut report, Received this morning
noted an improvement IN the Kansas and
Nebraska crop. bat stated that much OF th..
early corn had been checked in IL growth
by drought. Otherwise the conditions were
favorable. Receipts 1t Western markets
alriH5r Il
ago. st. Louis received 4I5 80. bU.. against
IoS,g9 bu. last year. The total shipments
We're s1e.e1 ru. and the export cls-rances
213.tjo bu.
Gables reported Liverpool 1'si lower.
showing pretty full response to our DE-
cline Of yesterday. The opening here Tor
Sept. was i+GSsc lower, at 35".c. from which
II sold OF to $50: was Offered at S5lsl
later. An effort was made 10 sell Dec. and
# was offered at 32l %. but found no takers
even at that price Year was extremely
weak and was offered at 32c, or 12.c low
than it closed yesterday. Late IN the day
the bulge in wheat brought about a
action IN corn. and while trading was not
particularly improved, Sept. was bid up to
5sSs93s4.c- though the close was 1.c lower
for the day, n 365sc sellers. July was
strong on account of the scarcity and
strength IN cash, and S712c was bid without
q seller. Year closed J5sc OFF, at sc bid.
The arrivals Of oats from Western mar
kets We're reported at 5000 bu.. against
$500 bu last year. including 1850 bg; To-
inents, i6f.c9 hu. and exports $3.50 bu. The
weekly Government report stated that har-
vesting was nearly finished in the central
valleys. but some damage had been done
by late rains. There was a decline In :u-
lures early IN the session, Sept, selling at
;2l2c to 24sc, and then offered down to
22hc, but late rallied and at close 22sn
was bid For July 22lsc was bid.
Trade Gossip.
in It's latest weather crop bulletin the Gov
Kansas and Neoreska has improved, reports In