The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-06-13
BEARS HAVE THE
BEST OF THE MARKETS.
WEAKNESS Is AGAIN CHIEF
FEATURE OF SITUATION.
The Cheaper Grains Led in Weak
ness and Lost MOst-Wheat
Was Not Far Behind.

The selling pressure was again brouSh Mt TO
bear upon the principal grain markets of
the country and the result was a further
let-down in prices, all grains giving way to
the bearish influences that characterized the
situation. The weakness here was the chief
feature Of the different markets. The news
was not at all conductive to strength and
the free selling disposition shown from the
outset sent the different grains seeking a
lower level, which they had no trouble in
finding. and from which they were never
able TO fully recover from. In many of their
features the markets here bore a close re-
semblance TO the DAY before. There APP
pared to be no backbone, and as very little
support was forthcoming during the day
they declined almost uninterruptedly. and
all round decline marked the close for the
day. Corn leading with a loss of from No
sc to sc. wheat being a very good second
with a decline of i2c, while oats was from
h9hc to SQ1ec lower than the day before.
There was nothing in wheat to encourage
the longs. especially after the opening, which
was q little better than was looked Tor. and
messed. the losses in price being quite severe
at times ana the recoveries slight. The start
on here was better than had really been
expected. and IT was all on account Of Liv-
erpool. which after opening Nd lower raj
lied I'd This started some shorts and
others to buying, and the result was that
july ORCkCo ~ hl6LcI u OaJ8C, LII 0SpA. nc
up at 6Shc. This proved to be a false alarm
as there was much more for sale than could
very well be taken care of. and q quick let
for sale. went to 66Ac without a check. while
Sept. sold down to 66c. The weather was in
the best condition for the growing crop and
vesting purposes. There were no crop COM
plants Of any kind heard Of and the
weather report OF the Government showed
an Improvement In both winter and spring
regions On the decline mpptioned abnvQ a
large amount of long wheat came on the
market and July went down to csc and
Sept. to 6SAc before the selling pressure
was lifted. The reported strong and higher
close at Liverpool. which market was I'D
higher for the day, and Paris 1Ac better.
had a good effect and brought about a rally
in July to 66a.c and sent Sept. to 66hc. Late
in the day there were advices of a big ex-
port business. New York reporting ~ loads
taken place at Buda-Pesth of &c, though
Berlin was NC of. Markets elsewhere, how
ever, were steadier. and although the SEN
was quite well maintained and July, after
going on to 66sc, reacted to 66%c, fell back
to &c and then closed at csc sellers.
was bid 66lsc. The export clearances for the
44l.O00 bu.
Like the higher-priced grain corn at the
eend-on showed something like strength.
but 1t was more on account of the strength
ciio at ShiCdeo lndH dhytuluE else lnlS
little show of strength brought out bid Of
H1sc for July. and of 42i1c for Sept, but as
there were no sellers nothing was done,
and 1t was not long before the strength en-
tirely disappeared and prices weakened of,
the opening trades in July being at 40Nc,
and IN Sept. at 42zc. these options subse-
spectively. Receipts from Western markets
were smaller and shipments large. but the
clsarances from this country were only 81
600 bu.; and Liverpool was I'd lower. though
q good cash demand was reported in that
market. Late in the day the market re-
acted to 403sc for July, but still later there
was q. general weakness. though sales Of
80 loads for export were reported, and at
the close July was offered at 4oAMlxc for
Sept wal bid 415sc. after selling at tha
Liquidation was the feature Of the local
oat. market yesterday, and naturally this
had a very depressing effect, especially as
other markets were lower. Sept. had SKA
NC bid early. but that option sold at ss1sc
to 2sAc. the close being at bottom. July
was offered at 9-Lc