The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-07
COARSE GRAINS THE
FEATURE OF. SITUATION.
CORN AND OATS THE CENTER
OF SPECULATION.
These Grains Were Strongly in
Evidence and Closed Largely
Higher-Wheat Was Bearish.

There has been much to encourage those
friendly to a higher level OF prices in grain
during the past week IN the position taken
and also In the actions OF the different
markets. There has been well-defned
change for the better In many of the mar
kets and one that was accompanied by
an all-round improvement in values, and
In two instances largely higher prices went
on record at the close. These remarks
apply chiefly to coarse grains. wheat be-
ing overshadowed and compelled to take a
back seat as far as strength and bullish-
ness were concerned. the market barely
holding its own during most of the week.
while closing at a loss. The record made
by corn and oats, on the other hand was
a bull one. first. las and all the time. the
| first named holding the supremacy. in spec
terest during the week has improved much,
the dealings have been on a large scale and
there were periods when the situation was
was very lively place. As usual weather
and crop conditions were the ruling factors
and viii continue to be 50 for some time
yet, and had most to do in shaping the
course Of the different grain markets.
The conditions ruling In wheat during the
been bearish. and the local crowd have been
almost as benrish on the grain as they were
bullish on coarse grains. Wheat did not
and condition that corn was given. but. not
withstanding sentiment leaned to the selling
side, and the conditions largely favored that
side also. the market more than held its
seemed suddenly to fall out of It. and a
break Of over 1c was registered. which COM
closed the week at a loss Of from NC to
l&@Sc. During most Of the week the at
tention Of wheat. traders has been attract
ed to other grains, and especially corn.
which has held the center of the speculative
stage. and was one Of the few sustaining
factors In wheat: the only other one of Inn
French crop which report was not satisfac.
tortiy confirmed by the actions of foreign
markets and cables. There was little export
business heard of during the week. and the
cash situation was far from being salts.
factory.
The wheat exports, including flour. were
fell largely Off from those Of last week, the
figures according to Bradstreets being g.
7s7, $50 bu.. 4.ss4l57 and s,ols.ss bu.. respect
tors have been bearish. In the first place
new wheat arrived freely and receipts have
grown largely. though the visible supply Of
last =, week was reported as decreasing 21lo.
as expected, and the amount on ocean pas
sage decreased only 1861 900 bu. Bradstreet's
worlds visible fell away largely. These.
favorable reports on the spring wheat. tho
fact that harvesting was gradually extend
ing ana the sn we're sS0S for yield
Swallowed the market, checking all DISPOSE
ton to bullishness and causing traders in q
majority Of cases to take the selling side.
close yesterday for July was at 6lMc. Sept.
closing at S2h@S2hc and Dec. at 60Ac bid.
There was no doubling the supremacy Of
corn In speculative way during the week,
IT being practically the whole thing from
start to finish. and. being backed up by bull
sharply. The local contingent have been
bullish all the week. and for that matter
for nearly two weeks. and have been lead
been compelled to take to the woods: that
is.' those who have not been eliminated. No
one appeared to have the courage to oppose
interrupted advance has been the feature Of
the speculative situation. and at this writ
Ing the local crowd. has become almost
unanimously bullish. Hot, dry weather and
crop were the dominating factors In this
market throughout the week and made an
excited and at times a very Wild market.
certain sections. but the little that fell was
scattered and of SO little benefit that the sit
nation was. considered extremely critical.
and in an excited state. and In some In
stances runaway markets have been expert
enced; No serious attempt was made dur.
values. and the result has been that the
bulls have had things pretty much their
own way and have succeeded In putting up
prices largely.
Arrivals ali through the week have been
light, and the visible was decreased over
Zoo 900 bu. Gables, as q rule, have been
strong, foreign markets generally respond
ing freely to advances on this side. For
eisn buying, however. was light. and the
weeks clearances fell below those Of last
been strong bull one all the week, and in
particular during the closing days, various
reports OF damage having been received,
causing the short interest to cover. and adj
vancing prices for the week SfDkc to SIC,
and closing July at 45isc nominal, and Sept.
at 1870 which was slightly on from the
best prices OF the week.
Oats have been in pretty much the same
condition as corn-that Is to s1y, buIlish
and largely higher in price, and from nearly
the same cause, crop advices being uni-
formly bad. In fact, this Grain was even
stronger than corn, the market advancing
enc to 4c during the week, and closing at
S1hc for July, and at 3ssc. for Sept: This
grain has attracted q great deal Of. atten-
ton from traders. and considerable excite.
ment has been witnessed In the pit at times.
Prices have met with but few reverses. ana
at the close were right at the top.
FIagnas rensfenea.
REPUBLIC SPECIAL. ~ T.. = &c