The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-18
STRONG AND HIGHER
MARKETS FOR ALL GRAINS.
CROP CONDITIONS AND LACK
OF RAINS THE CAUSE.
Bull Factors Were Sufficient to Ad.
vance All Speculative Grain
Markets Sharply.

Markets Sharply.
Yesterdays session on the local grain ex-
change demonstrated the fact once again
that the speculative situation all round was
undeniably and emphatically bullish, and 1t
was plain from the action of the different
markets that q majority of spectators saw
but one side. and that was the long or buy
Ing side. The situation was not near so un-
settled yesterday as on the day before,
and price changes were not near so fire.
quent, as the bulls met with less resistance,
so universal was the bulish feeling and
sentiment at all the leading grain markets
OF the country. Occasionally the prices
would prove too tempting to be resisted. and
me taking OF profits would bring about an
casing on IN values, but brought no change
III speculative sentiment at all, and as a
rue the recoreries were sharp and more
than sufficient to wipe out the losses The
markets were all Particularly strong around
me opening and closing hours of the day,
wnen the best records were made. The
high-r-priced cereal led In point of strength
and at the close showed 8 gain In price of
rom esc to 1lsc. while corn was up from sc
20 Sc and oats &c TO 1so as compared
It was another bull day in the wheat
Plt on change, and at no time during the
The entire session. were the bears in a DO
sition to assume the aggressive. One of the
strongest OF bIlt arguments when the mar
ernment's weekly summary of crop condi-
tons to some extent confirmed the damage
reports IN the Northwest, especially in South
disposition on the part of the trade to buy.
and especially as corn was higher. and
cables reported an advance Of Id at Liver
splendid send-ofr. the first sales of Sept. be-
Ing l1sc higher at 66lsc. However, this adj
vance was too tempting for certain longs.
market. with the result that before the de-
cline that set in could be checked Sept, sold
o; on 70 ssas9SsSc, and finally to 65lsc Dec.
IN. the meantime had opened at 6s4 assssc.
started in at 645sc. and sold of to 64l4c. The
aace that the receipts here amounted to over
I il;o gu: and corn had suffered sharp loss
nelpeo to throw wheat down. A reaction
.nat was due to q report from Paris that
The MARKET was up SG2Sc. and that the
country had bought $1,000 bu. in New York.
the condition of the crop over there, Gre
sssa .o rssnewa, Of the desire to buy. and
s ssp5 sold back s,d to SIS and do. for Dec
advance for the day. but Antwerp was un-
changed. The export clearances from the
seahoard were large.
n the day In this market. which closed
arong. and right up around the top prices
OF 9th the day A bullish factor was the state
good buyer here all day. At the close there
We're buyers OF Sept. at 6sd6s1sc. and at
&c Tor Dec. while July was Quotable at
There were enough buying orders on the
market when Il opened up to start corn of
OF the box saw prices largely higher and
the feeling strong and bullish, of this there
was no doubt The temperature was high
certain sections. but they were scattered.
a1o tne government report partly confirmed
advfces previously received. A good
count ana the weather conditions, as shown
by the weather map. caused many room
traders to tale the long side. SO that Sept
WAS not held long. as there was more for
sale thar was wanted. and the market
shortly sho went on to 5lAc. then reacted
10 bl,sc, which break was due to an at
tempt to sell a large Line OF long stun. All
the advices received from the west were
OF not, dry conditions and a badly DAM
aged crop. The local crowd as q rule were
bullfsh. and everything of this nature was
; sSlse Sa upon 70 snoye up prices, SO that by
me nour OF noon Sept was selling at 5Ta
@ozc- The arrivals at primary markets
were fairly large. and more disposition was
snown 70 eel b the country. SO it was
only 1900 blu. During the rest Of the ses-
sion the local market was both strong and
nniilsn and the buying was much greater
waa It 1Nc bid. and for July 6l,sc bid
When the local oats market opened up
there was found to be enough buying or
ders on hand to give the market a boost
Of &c ana the nrss sales OF Sept. were at
ssss Tnils for May sssc wa. bid, the
the great strength shown by wheat and
corn and the bad crop report OF the Gov
81 ne Tar T sen va, , ietdoWn from this
stay down. and later It sold at 3sSc, at
which It closed. July closed nominal at
3l1tc and May at 367sc buyers
Trade Ges.ip.
TIP crcp conditions At close Of last week, a.
had ss press and private reports have stated d.
AZ . whole: tho .c9rn crop in the great corn
s;Oari. NsnI.ska Kansa. and oklssom.. but .
9 ias ts and r hsai
MAKE ss snop ana s. sy Tsa, M stu
,9w. spa z, and North
ssss AN i. ess y sas Asss
districts ! made ,sxceiiens prosrsss generally
ST Nss.
ceptions ara In tina Northwest. where prospects
s s s:ss ss s7.ss: e: s sssSrss IL
cipal producing sectoEs but mora especially
where drought and heat most severe. Except in
South Dakota. where dry. hot winds partly
biighted the crop. In some localities seriously.
sErirg whsas Dsospsc As rule ar are s good In
chinch bugs. and over southern portion OF spring
wheat REGION on the Pacific Coast general pros
pects Less promising.
in Their regular weehls letter to Dickson.
OF Liverpool under date OF July S, state that
Russian reports continue unfavorabe. In the
Southwest some damage done. but crop likely
70 be Q fair one In the Volge districts The out
drought continued. and shippers Withdrawn ali
offsf1 fror7 market Rounapia and Bulgaria ex-
pect gooA yields. though some damage by recen,
storzne. Harvest commenced in Austria Hungary
stiii variable from France. as opinions con- A.
ilictinG. but most sauguine cutting down estt-
nafea. and few expect yield OF over Isl, ooO Goa
bu. II. Couteaux. IN recent letter TO the Temps.
soasumption u about 81. oo.oao Su.. this would
mean very large imports, but certain France
win have 70 import sooner or later. Italy eends
reports Of unfavorabe weather for harvest. Spain.
Portugal and Holland say prospects excellent
Level. shipment. light and likely to be e con.
fined &c filling OF old contracts Argentine cargoes
firm. with little offering. Latest reports say
weather rather unfavorable for new seeding.
-. Lenders 4 Co. Of London. In their mar:
Increased confidence seems developing. as ad.
vices respecting the Russian. crop-especially In
the north-have been by no means satisfac-
tory. and the American crop. it is nov fully
auirements OF England. France and Germany
Will also this season be exceptionally large
and rs the present price il low. especially com.
psrsd With maize. We should not be surprised