The St. Louis Republic., 1901-03-29
CORN THE FEATURE
OF GRAIN SITUATION.
CORN SET THE PACE FOR
OTHER GRAINS.
Wheat Was a Little Backward III
Responding and Gained Little,
but Corn Was Higher.

Undeniable strength was displayed right
from the start by the two leading grams
hut II was not until we'll on toward the
closing hours of the session that there were
anv very significant changes in values. the
markets during the earlier hours showing
backwardness about responding to bullish
influences. and for some considerable tlihe
after the opening trades they hung around
first prices, neither going back or forwaru
more than a fraction. This was more es-
pecially the case with the higher-priced
grain than corn, the latter chatng ike Il
restive horse at its bit, so anxious was IL 10
get off. As result the opening and closing
of the two leading markets and in par
ticular the last named, was in quite marked
contrast as whereas the initial prices
showed only Il small Improvement over
night the final figures were much higher
and right up and around the top. wheat
showing a gain for The day of lsais al!
rourd. wfile corn WAS Sc 20 'sc better
and oats i4c to sc up. Both wheat ana oats
were more influenced by the actions oil
corn, which again took the lead in specula-
ton and set the pace for others to follow
than anything else, the strength displayed
by that grain appearing 10 nave more
weight with the trade than even the strong
and higher cables. In trading way there
was an all-round Improvement. and pit
operations at times were large and excite
ment prevailed.
Influenced by the continued strength and
bullishness OF corn, which is steadily Sro".
ing the market for wheat at TINS point
Thursday exhibited disposition 10 assume
n higher level, and for some time alter the
market opened the trend was upward;
There was a soft spot later. but no material
letdown in values. which later advanced IN
sympathy with corn and closed right near
the top. Besides corn, the early LlNeipooi
cables were l.d higher, which more than
offset the favorable crop report OF the Slh-
cinnati Price Current and the good receipts
here and elsewhere. All the fnarEets oil me
ing here was lsc higher, the large snip
ments and decrease in stocks. bcS;ueS lhe
factors above mentioned. having 1ayor-
able effect. ard May sold at 7tc. while july
brought 1850 TO 1Si2c, but from TINS the
first named fell back to .51sc. owing to a
let-up in the buying. Liverpool also failed
TO hold its full advance and closed only sd
better for the day. Paris and Berlin were
quiet and unchanged. but Antwerp was up
acceptances of hard winter bX Europe re-
ported by exporters. and cleaIances Tor the
day We're $4,000 bu.. while FOR the Week
they amounted to 2, ,l2S0GO bu.. against = Iio.-
600 bu. last week There was some fly dam
age talk. but it was plain to be seen that II
was the strength in corn that had the most
weight. For some time after the opening
this market was quiet. and May iiuctuated
between 7S5sc and 74c and July was salabie
at 7S3sIlac. The late strength and bulge IN
corn were not to be resisted. ana wheat
improved again. and between the shorts
covering and longs talking bullish May
finally sold at 74alsc. which was asked at
the close. July sold at lSisTasc and that
was bid at the close Sales for export were
reported at only 10 loads.
The chief feature of the speculative grain
trade of the country Thursday. ana the
market upon which all eyes Were fixed. was
corn. which continues to lead everything
in point of strength and bullishness. ana
which made another hiSh-pficed record.
the close after late almost uninterrupted
advance showing gain as compared with
the day before of close on to 1c The fac
tors were not altogether favorable from
bull point OF view at the outset. and the
start made was not quite up to the expec-
the first place the weather was more
settled. and but little rain was Indicated on
ceipts were small and the country. was
said TO be selling little bearish factor
a report that Nebraska was free
seller. but this was soon overcome; The
opening here for May was &c higher at
4li4c. from which il soon went off to 40isc, |
and would have gone much lower only for
the strength shown at Chicago July sold !
at illac and was then offered at 4lssc. The |
response by Liverpool to the advance on |
this side the day before was only sd, and |
the days clearances were light at $4,000 |
bu.. against 1000 bu. last week. After |
the letdown May sold up to 41%4c and July |
10 I;sc. 1t was during the closing malt
hour of the session that this market showed |
its greatest strength. The bulls then had |
complete control. and found no one to op-
pose them. though the cash situation was
very bad and export sales but 70 loads. |
May sold at 41Tsc, but did not get any
higher. though the close was at that figure |
sellers. while July sold at 421sc and that |
Eas bid.
The strength shown by corn had a good
influence upon oats and created such de-
mand that the market advanced materially.
May selling at 253sc to 26lzc. The market
was further helped by the small receipts
and strong cash market. At close May was
at the top at 26l2c bid and July 2i2lc bid.