The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-08-15
GOOD ADVANCE
THAT DID NOT HOLD.
HEAVY REALIZING CHECKED
UPWARD
Higher Cables and Large Exports
Bull Factors in Wheat and Good
Buying Advanced Corn.

Buying Advanced Corn.
While comparatively quiet. as compared
with the exciting and wild lines expert
enced last Monday. there was no apathy
shown in the local wheat market yesterday.
speculation having recovered from the set
back received the day before. and ruled ac-
tive and heavy throughout the day. Trad
ers. however, showed more caution In their
operations, and were not carried away by
bullish enthusiasm. Still there appears to be
no abatement Of the bullish feeling and the
belief is growing that wheat is destined to
see much higher prices. 1t is making friends
slowly. but surely. and speculation Is grad
ually broadening. Yesterdays market was
both strong and weak by turns. and one
that was subjected to severe tests, and a
number of changes in market values were
experienced during the day. 1t started OF
favorably for the bulls, the principal help
to their cause being Liverpool cables. light
receipts and the weekly Government report.
The first had a strong builish effect, as they
reported d nd advance on the other side,
while The latter reported damage by rains in
the spring wheat country. Receipts here
were only 10. go bu. At the opening there
were advances of &c to Au1sc, respectively.
in Sept, and Dec, and buying was active
and free at 7slsc for the first named and at
15Ac to 7sixc for the last. These prices
brought out a perfect flood OF long wheat,
and sept. at once broke down to 12l2c and
Dec. to 75Sc. There was also selling by re-
ceiving-houses against late buying in the
country, which mad a bad effect also. On
tine posing of the large export ~clearances,
wnicn amounted TO over s75.0c0 blu. for the
day, together with cables reporting ad-
yances Of 1hc in Berlin and 1kc in Antwerp
SINCE Monaay there was a reaction TO 12.sn
Use bid for sept, and Dec, which had gone
- " -E1 MANI ~. " & ovnnn
closed sd better for the day, but Paris was
unchanged. and Buda-Pestn NC lower. and
New York reported the Continent selling
there The above and the akn in corn
brought about a relapse to 72Asc for Sept.
and s5hc for Dec. The late bulge in Sept. corn
revived builish sentiment in wheat toward
the close. which was further increased by
reports Of a large export demand for hour
at Milwaukee, and good wheat sales for ex-
port aiso. These rallied the market to &c
Ior Sept. and 75lsc for Dec. AT the close
the first named was &c lower for the day. at
s3Sc asked, and the latter was NC Off at
l5SsQ75tsc sellers. and was was &c lower, at
Fl During the day 800. 900 bu. No. 2 hard
were worked by local exporters; price not
made public. but said to nave been good.
The corn market yesterday was without
sensational features and was only redeemed
from actual tameness by the builish sent-
ment and speculative support on the part
Of professional and outside interests. 1t
was plaintly to be seen that there was no
short interest OF any consequence, but at
, Xsrx pssv curing m'cn the ns - Gay Ss,n the n s sha Cav was of
profit taking, which was INDUCED In when
ever prices justified. Crop and weather
conditions we're the ruling factors in this
grain. Little rain was reported anywhere,
and according to the Government report
there had been a further deterioration in
stated that late corn had materially i'm
proved in the Mississippi and Missouri val
leys and in Kentucky and Tennessee. There
by the dry weather east Of the river and sd
advance at Liverpool. together with the
strong wheat opening. and Sept; first sold
was buying. having switched over from
Sept. selling at 62sc, and May at 6S3zc.
Like in wheat; there were too many anx-
Dec. to ss1.c and May to CSC. This dispo.
. upan the to s mars eec e e Ssas Sep as she pa agsSs
support was poor. but after going to sc
Dec. the favortte speculative option now.
whiie Sept. .oid Oh to sossc and May went
to e4x. Clearances were only $1,000 bu., and
the news received late in the day was bear
We Ms.t in sna = w s@Rr Tsere eoSP m markets W %h ies
closed only I'd higher for the day. As the
day drew to e close there was a demand
10 slTc. but at that figure there was SO
much for sale that 1t at once broke down
to to- si .Ss a aaS. cl0 Bed. at .o taaf up oia 10 a9 ssx &c a oa
closed 10 lower for the day at e211xc, May
closing on at e4Nc sellers.
The market for oats at this point at
tracted even less attention from the trade.
Receipts were light here. but large at other
primary points, and shipments only fair.
the export clearances being 100000 blu. The
only evidence of life at the opening was
an offer to sell May at 41c and a bid OF 40hc.
or Nc lower. The first sale was at 41c, and
Sept. had &kc bid. During the last half
of the session there was no trading and
at the close May and Sept were &c better
for the day. at iQSc and 37Xc.