The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-04
LONGS SELLING
BROKE ALL GRAINS.
MARKETS IN A WEAK STATE,
CLOSING LOWER.
Wheat Held Up the Best and Was
Quite Strong Early in the
Day, but Weakened Late.

The developments In connection with the
grain situation yesterday were such as
might have been expected from the charac-
ter of the advices received. being of a ma
ture to advance wheat and give the coarse
grains setback. The situation a whole
was quieter than it was the day before.
and fewer features of interest were de-
veioped. The dealings were also lighter.
The news was of all kinds. including good,
bad and Indifferent. and the different grains
acted in accordance. some exhibiting con
tnuaton of the strength so prominent the
day before, and others losing it. None OF
the markets were able to hold out as they
started out, and this was particularly true
Of the higher-priced cereal, which weakened
off after making very excellent start. anu
closed shade better to that much lower
for the cay Coarse grains. on the otner
hand. exhibited very little strength at any
time. and in the case of corn the losses
were mere serious. they being from &c TO
34c but oats closed at only 1-l6c decline.
There was a very good undertone Of
strength to wheat early yesterday. though
1t cannot be said that the early advices
the strong bull card of the day before-the
French crop scare-was not so prominent,
none of the foreign markets being much. II
erpool only reported an Improvement of
2sd. while Paris cables noted decline OF
Lu1Gc. though Chicago said that the French
were buying there. The unfavorable cables
caused the market here to open slightly
offish, Sept. selling &c lower than it closed
the day before at 6s1sc. There was but lit,
tie for sale. however, and rally on good
buying shortly followed. that option going
up to 63s4c on 1t. and July selling at 62a4c
to 627sc. while Dec. brought &c and 66rc
Arrivals here We're very good, being posted
ter for the day. but Berlin was up only
1sc, and Buda-Pesth was reported un-
changed. The elearances from the seaboard
We're only 10000 bu. in flour and wheat.
compared with S,23O.0OO blu. Up to within
a short time after the noon hour the mar
ing as high as 6s7sc, off to 63esc; July. at
62lsc and Dec. at 66isc. During the last
half of the session the. market became
agemens t. to be gotten t ' out Of late news.
The export business was small at the sea-
board, and local exporters said that their
bids were out of line. There was not much
the pit was very quiet place up to the
close. Sept. ranged around 63ssc most of
the time CO., selling as high as 6ss.c "a: and as
At close July was offered at 62lsc and Dec.
at 66Glsc bid.
There was not so much strength shown
by corn yesterday as on the day before and
a lower level of prices was established be-
ing to the weather map on change there
had been no rains of consequence, the little
that had fallen being pretty we'll scattered,
and the condition OF the crop was said to
be about as heretofore reported. Still the
Government weekly report did not indicate
any such serious conditions. The Chicago
curb was said to be 1c up. but that mar
ket when it did open, was weak. This
started a selling pressure at this point.
and after Sept. had received q bid of 46lac
on the strength of the Chicago curb" but
Mt Sfhi coll hot n
sold at 4os.c and then went down to 45lac
and still later sold rs low as i5c. There
was no lack of bull news, including hot, dry
weather. badly ruined crops and orders from
the country for cash stuff. The ciearances
were moderate for the day at $4,000 bu.,
and 2,163,000 blu. for the short week, against
100000 bu. for last week. Sept sold back
to 45atc and 457sc was bid. But the unload
Ing of long corn by parties who were not
disposed to carry their stuff over the holi-
day, and which was feature of the stu
alton all day, became so strong that, not
withstanding the very good buying support
which sent Sept. up to 45Ac, the market
weakened and that option fell to 45isc and
at close was quoted at 45hc sellers. There
was no trading In July. which was nominal
~ 43c at close.
The speculative market for oats did not
attract very much attention from the trade
yesterday. The weakness shown by corn
had a bad effect but there was no pressure
to sell on that account, as crop reports were
bad. Trading was extremely light. Sept be-
ing offered at 27:s428c. but not selling. while
July sold in a small way at 2Sc May was
SOAsc bid.