The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-03-21
STRONG UNDERT0NE
SHOWN BY GRAIN MARKETS.
WHEAT STRONG AND BULL
ISL ON WAR NEWS.
Corn Made a Very Good Start. but
Failed to Hold Best Prices,
Closing With Little Change.

The speculative grain markets one anC
nil showed n very decided disposition TO dc
better. and. although they met with con
siderable opposition at times, none of which
was of a really serious nature, the early
impression made upon prices at the outset
was well maintained throughout the earlier
hours. Later on there was a further Eooc
Improvement. particularly in the case of thc
hiyher-priced grain, which came TO the
front in great style on war rumors from
Europe. great strength being injected into
the situation. and an all-ruund gain of
nearly a cent being made in cur
rent values. Corn at one time was 4 very
good second to wheat, but was unable 10
maintain its early advantage. while oats
were. as usual. neglected. There were pc
RODS of extreme duliness to be witnessed in
pit operations during the day, and in fact
until war reports commenced 10 have an eff
feet upon the wheat market. when Things
became lively enough and quite heavy trad
ing was INDUCED in during the closing
hours. Wheat. OF course, led in point of
strength, and at the close the bulls had
far The best of it. as prices were up from
oats We're steady and unchanged to 14c 10
1sc off respectively
Grim visaged war was again injected into
the wheat situation of this country
"Wednesday. and its effect was most decid-
eddy marked in the case of sentiment and
prices. the former showing considerable
bullishness and the latter gains of nearly
1c for the day. The market at this point
started off very encouragingly for the bulls.
and throughout the entire day, but more
especially late, showed more life and rigor
than has been witnessed any previous day
this week. From start TO finish the tone
was stronger and the feeling bullishly in
clined. There were several sharp bulges
during the day. and the recessions in nearly
every case were insignificant. There was
nothing bullish about the first English
cables, which reported no chance from the
day before. but those that Immediately
showed I'D advance at Liverpool, and clos
ing cables were SD better for the day. due
1t was claimed to the warlike rumors from
China. Receipts here Were again large. al
most doubling those of a year ago, but they
were to some extent Offset by the ship
ments which were liberal. The opening
here was stronger and &c higher for May
at 4asc, while July, was &c better at &c
Besides the good cables, there were reports
of damage by fly in certain parts of Texas
and freezing weather in the West, which
created some uneasiness.
There was good buying on the strength CT
the early advices and May went TO
74ssd74iac. and July brought 73c. but from
this the market eased off to f4Ac. for the
first and to 12fsc for the laSt-named. owing
10 a lack of support. On a report that
Russian and English troops had fired upon
each other at Tien-Tsin. there was an up
roar. and in connection with damage re-
ports from several States. there was 4
bulge to 74a4c in May and to 73isc in Ju,y.
Continental cables We're better, Berlin being
up HC anu butd-f Sll III. lIIOuSu L
was 14a1@c. lower, and Antwerp OF .c.
Clearances for the day We're AZ. 900 blu. The
market continued to gain in strength.
though the cash situation was not encou--
aging. Exporters reported strong bids from
abroad, but sales of flour and wheat were
small. The European war cloud came TO
talk. Late in the day May sold as high as
75c. and closed at use bid, July then nav
ing 7s9sc bid.
If-arr NJ Yho pnapinu 1nro11y "Wednesday
a disposition to take the bit in its
mouth and give a runaway exhibition, but
the little spasm Of strength shown at the
outset. and which sent prices w a little.
was very Short-lived, and from that time to
the close there was very little strength dis
played. the market being in very marked
those Of last year were light and
country ac%ceptances small. the country
still showing a disposition to hold on TO
their corn for the present at least. The
shipments on the other hand were very en-
couraging. and the export clearances We're
the largest for some time. being reported at
640, 600 blu. Liverpool was reported sd higher
at the outset. but that slight gain was lost
later. and that market closed the same as
the day before. The opening here was eN-
4oc being bid for May and 4oisc for the July
option, but the boom failed to go through,
the market shortly after weakening, May
and 4o,4c.
The market continued to grow weaker
and weaker until May sold at 3sksd39ssc and
July at 4Oc. but finally improved with
wheat. recovering most of the early losses.
At close May was the same as the day be-
fore at 39isc and July sc off for the day at
40kc asked.
As usual there was nothing In the specu- |
lative situation to attract attention to oats.
There was no news of Importance received
ard interest was practically nil. the atten-
ton of room traders being taken up with
at all. Early in the day May was held
at CSC, but at close was quoted at 255sc, |
July was nominally unchanged at
eiTc.