The St. Louis Republic., 1901-02-06
WHEAT RULED BEARISH
IN CHICAGO MARKET.
YIELDED ANOTHER THREE
EIGHTHS OF A CENT.
Bulls Discouraged by Unfavorable
Statistics-COrn and Oats Sta
tiOnary-PrOvisiOns Weak.
REPCBLIC SPECIAL

| REPUBLIC SPECIAL
Chicago. ILL.,, Feb. 5.-Wheat yielded an
other &c Of its value. in part to the in
sistence OF the bears for lower prices and
to the success OF their efforts in that regard
| In causing the abandonment of long wheat
by weary bulls. The latter were discour-
aged by the still unfavorable comparison
for them OF this and last years Western
receipts. and the weak tone 10 the days
foreign advices. the snow protection to win
/ ter wheat and smallness of Atlantic port
\ clearances
May wheat closed at 147sc. as against 751lc
Monday. Corn closed at ssisc. compared
| with @9isGi4c sellers on the day preced-
| ing. and May oats at 25ssc, as against
| 25hqssc yesterday.
Provisions were weak. fed by the too lib
| eral supply for the day Of hogs.
Wheat.
How readily the wheat market responds
| to the slightest encouragement was shown
| at the opening. when Minneapolis and Du-
luth receipts for the day were reported as
2sS cars. In comparison with az carloads
| the corresponding day Of the previous year.
That was S cars more than came TO hand
week ago. but the crowd wanted only
comparisons that tended to the fostering of
bull sentiment, and paid from i5Ssc TO
s5asgtxc for May wheat that yesterday aft
ernoon was worth but 75i4c. Some sold at
s5isc. there not being enough offered at
lower than that satisfy the opening de-
mand. II Is not TO be Inferred from the lat
ter remark that buying orders were numer-
Gus. but rather that sellers we-e scarce
for trading was so small that instead OF
the ordinary jumbled sounds from a multi
tude OF stentorian lungs. individual voices
and the nature OF their bids or offers could
he heard from the farthest corner of the
hall.
When the opening firmness began to evap-
crate and weakness took its place. the vol
ume OF business sensibiy increased. but the
additional activity was of that forced kind
which wrings the withers of the bulls and
makes the CALLED herd vince. Long wheat
price OF May wheat fell to 75c. There
proved to be more resting orders TO buy
wheat at the last-named figures than orders
TO sell, for the time at least OF Its hIst
reaching them. ard 1t recovered a trif,e.
New York wired OF a cargo of No. red
wheat havins been sold for export to As-
to south Africa, and that the Continent
might be looked for to buy wheat on any
ed was subsequent to such information.
Some Minneapolis mills. with a daily capac-
ity of 1000 bbls., were reported as being
TO had more effect than export purchases
to SO moderate an extent. Seaboard clear |
ances of wheat and -four were disappoint- |
Whereas s"n yeaT eunaHs aso Atlantic AZ % ports s1
shipped $4,000 bu. wheat and hour.
Primary Western market receipts were
4i4.0o0 bu-, against 10000 bu. the like |
day of the preceding year. Liverpool closed |
I'D higher tnan IT did the day before; Paris |
and Antwerp 4 made adj mo- no change % in previous
quotations
Corn was quiet and for the most part /
firm. being uninfiuenced to any material ex-
tent by the weakness that developed In /
wheat during the forenoon. Receipts at /
Chicago. compared with those OF the similar
day last year. were very much smaller. the /
number being +S. as against Lbs cars Il
year ago. Tine total at the chief Western
markets did not show in comparison a de-
ficiency. but were. on the contrary. heavier
than the total OF the like day of last year,
SoUs G shsy D Sa Tse
board clearances for the day were 1.5So.00s
bu- Liverpool corn futures closed from &c
May corn opsned here at from 39ssc to 39xc
and kept within range of 39,nSyt1c during
the session. Estimated receipts Tomorrow
Oats were firm. and the days business
was chiefly done at some little improvement
time May oats sold to a small extent at
25izc, but only one or two 5000 bu lots could
be disposed Of at that. for there were seller.
figures considerable changed hands. The
opening was at 2sssc. and q little business
25ssc. Local receipts were s2s cars com
pared with 3l4 year ago. Shipments from
Chicago were $4,000 bu., as against $4,000
Su. Su the sorrespondins day s.s last s year Sea
mated tomorrow '00 cars. |
Provisions.
Provisions were weak at the opening.
starting at &c decline. each for pork. lard
and ribs. Closing prices were 2izc below the
opening quotation of lard. making the net
prices they started. and PFC net decline for
the day. The local hog receipts were 5000. |
as against 1900 estimated the day before.
and II was estimated the run was 5000. The
loc reduction In prices at the yards. The
aggregate Of the days run at the principal
western packing places was $500, as
against 5000 the corresponding day Of the
Another decline occurred in the prices |
Of faxseed to the extent of 2d3c for
futures and lhG2c for spot seed. making |
he last two days from SIC to SC. and in
he latter from SC to &C. Trading at the |
big reduction in prices was a little heavier |
han yesterday. but still It could not be
began at $40 and finished at Si.6s sellers
The initial sale In April delivery was made |
to-day at 81. 6eix. the seller being Dickinson
Nay opened at sire. sold down to M6s.
tut reacted at the close to the opening |
rice. Spot No. Northwestern was non-
lnal at $40: No. 1 sold at sl.6sikdsis9. Re-
one no-grade seed sold. but at what price
ould not be learned. Receipts were IL
airs and shipments 4.4e9 bu.
Minneapolis arrivals were II cars. Du-
axseed were were 17osas bu-. a decrease crease Of
s49 bu Duluth closed from 1c TO &c low |