The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-23
BIG ADVANCES IN
ALL GRAIN MARKETS
"A RUNAWAY CONDITION PRE-
VAILED.
Corn Led in Strength and Closed
Over Five Points Up, Wheat
and Oats Three Points Up.

and Oats Three Points Up.
There was no end OF bull session on the
local exchange yesterday in grains Run
sway conditions prevailed IN all the mar
lSets, and sensational advances we're made
by all grains. especially by corn. which was
really the bull leader and practically started
She fireworks in other cereals. All the mar
kets OF the country were on the rampage
end here they could not be headed off. 50
strong were the bull feeling and sentiment
nnd so large were buying orders. Corn had
uninterrupted advance and closed with
gain for the day OF from &C TO 5iic: oats was
good second, closing from SIC 10 &c high
er. and wheat quoted from SC 10 S!sc. though
the gains during the day were really great
er. These gains are the heaviest for a sin
&c day that have been recorded for months
and are 10 DO ascribed to the general bull
ish sentiment that has been steadily grow
ing os the days pass. and there appears
10 be no signs OF break in the protracted
hot weather and drought conditions. which
has given rise TO the belief that irrepa rahIe
damage has been done to the crops. and es-
pecially corn and oats. The floor and steps
around the pit were crowded with traders a
large number OF whom were from the couu-
try. and commission men and brokers were
in receipt OF SO many orders on the buying
side that II was with considerable trouble
and only at higher prices could they be
filled.
The bulge in wheat yesterday was more
q matter OF sympathy with corn, though
there were other buish influences, notably
sentiment and feeling. bullishly strong
and largely higher market was experienced
from the hour Of opening to that of closing,
an advance being scored right at the start,
and the close being within i.c of the top
prices of the Gay. Besides the strength
shown the situation was one of the live!iest
and most exciting that has been witnessed
since the bull movement inaugurated,
The pit being thronsed with a bowling mob
OF wild-eyed traders anxious TO fill buying
orders, and to get on the long side for their
own account The weather conditions con-
tinue bullish, hot and dry in the Northwest.
but II was The sensational advance in corn
That was chiefly responsible for the condi-
tons prevailing in wheat. There was moth
ipS responsive TO our late advances abroad
and especially at Liverpool wnicn market
was reported I'D lower though the only
PORTING done last week of any consequence
Was from America, and the amount afloat
showed a decrease of 1854 go bu. as COM
pared with 10000 blu. decrease a year ago
The arrivals at Chicago. Kansas City and
ST. Louis were over 50OelD bu. respectively,
bearish influence, traders being too anxious
10 buy and there was only one side to the
speeulatiye situation So heavy was the
buying that the first dash out of the box
opened the market here from 1c to 1lpc
higher, at 6sisc to Csc for Sept. which option
shortly after was selling at 6si4c; Dec. SELL
ing at 11ssc 10 tic. The relapse from these
figures was not great in fact. it was only
10 &c for Sept. at which all that was Of
Tered for sale was taken, and the demand
became pressing that prices once more
comenced to advance. and in short time
ssi.c was touched for Sept. and 72isc was bid
Tor Dec. Quite a batch of damage reports
came in from the Northwest and this kept
buying keyed UP. The closing cable re-
ported advances for the day of 1@lAd at
These naturally caused buying to continue
and Sept. moved UP TO $3.50 and Dec. to
1ca4c.
Inc buying continued almost uninterrupt-
eddy right up TO the close. though rains
we're reported as falling in the Northwest
which might lower the temperature. ON
and closed at 7olsc sellers Dec. had ssi.c
for July sc was bid. No export business
vas reported; but the days clearances We're
piY at sS 90 sa and the visible sup
the decrease was $4,000 bu.
The conditions Prevailing all over the
were ne SUCH ss to bring m about ahs sarps
safionally bullfsh corn market here and
everywhere else in this country. The dorni-
~.
the weather and its influence upon the crop.
There was nothing on the weather map on
change, which the traders SO eagerly
scanned when they first arrived upon the
floor. to indicate rain anywhere but at CAL
weston. Tex It was red map: that means
everywhere and no prospects for relief APP
peared to be in sight. The advices from the
big contrasting States was uniformly bad.
at any time since things became dangerous.
The one desire that IVES apparent when the
market opened was too buy. professional
one another to get their orders in as early
as possible; then there were numerous or
aers from the country. and the rush to buy
was something fierce. The only sellers Were
longs. and they sold only to a limited ex-
to No higher than Il closed ss9 sata Rens
at at 6exs went to s7ase ana then jumped 10
temptation to take profits on the advance
could not be resisted, but there were plenty
or buyers. and Sept after declining to 5s&c,
Arkets were small. as were the shipments
so, and Liverpool closed 11sd better for
nest uptn but was NOT S maintained aH On v eny
July sold a 6sNc. Sept went down "a
closed at bSMc; 6oNc was bid for Dec and
July was nominally 6stsc: The visible fell
on $1,000 Su ui against $500 su decrease 9
:
1.S4s.0o0 bu., against 1000 blu. year ago.
Oats as was to have been expected. was
the same runaway condition as wheat
corn, and a very strong, bullish and
Lively market was experienced all through
the session. The demand was very urgent
from the start, and there was some lively
climbing for the different options Weather
conditions were very bad and crop advice:
we're worse than ever. At the opening
Sept. was bc up at 87I<c and shortly aftei
CSC was bid. while for May x1c was bid
Tho demand became more and more urgent
and especially for July. by shorts. and thai
month. after selling at 4olsc. had 41c bid II
the meantime Sept. sold up to Ssssc ant
May to 42c. which was PIC advance The
visably supply decreased 1080OOO bu. against
$4,000 bu. decrease last year. Sent late
sold At 3skc. and that was bid at close
when July was 41l5c and May 42Tc.
Tradcrs' Gossip.
Shipments Of wheat by the principal export
america 800. ......B.cc3soo 5.Ois.eoo 500 oo
Russia 6i2.0oO $4,000 lS.2'0 40
DsEube ...... ...... 112.upo l3G. i lO4 .Ie
ln0ia $4,000 24s.-o
tgtralia 49, GO $4,000 O.
reentine 1V4.VD SA.00l 49,. 90
Totals ....1.6l5.0o0 7.oS4.Oco 1880
Shipments OF corn from the principal EXPORT
ang countries:
Last Wk. Wk. before. Yr ago
America ...... ......L14.U0 2.s0l, 600 <.lSe ID
RUSSIA ...-.-.- 4s.VU 66.tco 32O. TO