The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-02
COARSE GRAINS
WERE IN THE LEAD.
CORN AND OATS THE CHIEF
's ATTRACTION.
Wheat, on the Other Hand, Was
More or Less Under Sell
ing Pressure and Lower.

The local speculative grain situation yes
terday was dominated to a greater or less
extent BY the coarse grains, and In partic-
ular corn. which for the past few days mas
shown evidence Of considerable strength ana
bullishness. and which yesterday led every
thing else in point of interest and specula-
. tive strength, oats being very fair sec
ond Wheat was not in 1t In these respects
with the cheaper cereals, the undertone
being heavy and the feeling bearish, and a
lower level Of values was established right
shortly after the market had opened up IN
a manner to greatly encourage those friend
ly to betterment OF prices. Pit operations
throughout the day were carried on in an
active manner most of the time. and were
on quite liberal scale, but the full strength
of the general situation did not last to the
close. and there was an all-round easing
Off in values. and the final figures were
considerably OF from those that were reg
istered earlier. the close for whea' being
ssISc to Nd1c lower for the day. while
corn was quoted sc better for both options.
and oats unchanged to &c higher.
w. The eyes Of the wheat contingent on
change yesterday were fixed upon com.
which held the center of the stage through
cut most OF the day. and was one OF the
chief influences the bull side. and had
fully as much effect in shaping the course
: of the different markets as anything, else.
II not more. Wheat felt the effects of the
strength developed by that market right at
the outset. and responded with such good
will that higher prices Immediately went on
record. All other factors as a rule. were
bearish Arrivals here were large, having
passed the 100000 bu mark. and a steady
dicted, as the weather continued perfect
for successful harvest. Information from
the other ice was bearish, Liverpool. after
reported in the DanubiaD countries. where
drought was threatened last week. The
worlds shipmel s were about up to expec-
decrease of only 5000 bu. the decrease last
year amounting to I.ss6.9oo bu The market
SSdSs1sc. and Dec. 6sasc to 6S11sc. This strong
undertone did not hold: as there was free
selling by commission-houses against new
wheat to arrive. and this had such a weak
ening effect that values eased OF. There
was a reported decrease in the visible sup
py se ysas e s Tsn an In
were large at s07 600 bu, in hour and wheat.
and Liverpool closed sd higher. being in
sian crop. Confinement markets were also
better Paris being aad1Ao. up. Berlin &c.
but Buda-Pesth 1c lower Still. in the face
went on under the selling pressure above
noted, and Sept declined to 6shc. July to
62lsc and Dec. to CSC before the hour OF
corn did not improve the situation any, but
: the market DID not go much lower. July SELL
ing at &c. Sept. at CSC and Dec, at 65ssc:
No export business was reported, and but
little satisfaction was to be gotten out OF
the general cash situation. The market was
heavy during the last hour Of the session
the result that July closed at 621tc bid, and
at esls@Ac for Sept. while Dec. was offered
: at 651sc
Hot. dry weather dominated the corn sit
! nation OF the country, and was mainly re-
sa,ns we're in TN
$ cern-gTowins States. and prospects were
very thin for any change in conditions.
growing worse. All the markets Of the
country were in an excited state, and even
Liverpool Ii e ~, vas Up 20 on Saturdays advance
/. sidered SO critical that q runaway market
nwas experienced right at the send on and
: there was bulge OF nearly DC the nrst two
erees turmoil q r sens ia
Ing all over each other in their efforts to
get in before It was too late. Sept. opened
quickly Jumped to SIC. On this IS. the
selling was heavy by those looking out for
profits. and that option went back to 455sc,
{. time July. which had attracted but little
attention; sold lSc higher. at <sssc. OF to
1sAS. Following the opening advance and
q
and unsettled state, with plenty for sale
by longs The selling pressure continued to
Increase on reports Of rains and prospects
OF rains In the Southwest. and Sept sold
on to 4skc. Arrivals at Western markets
were small. as were shipments. but clear
ances were large at 72S000 bu Liverpool
was also reported as closing 1xd higher
though the Danube had shipped more corn
r last week than this country, and the amount
supply of America decreased 2O2s 900 bu. The
last half OF the session witnessed great
selling out on the part Of longs. who feared
<53t06Mc; July sold at 425sc.
- As was to be expected the wild upturn
. m corn sent the local market for oats up
also. though the visible was increased 49,
600 b.. against 1.0SS,0 blu. increase year
: ago. The market was excited and advanced
&C, Sept. opening at 27Hc, but declined to
Etc. with the let-down in corn, and closed
At A1ec buyers. July had z7Ic bid early. but
closed at 27kc.