The St. Louis Republic., 1901-02-05
DECLINES Continue
ANOTHER SETBACK IN WHEAT,
CHEAPER GRAINS HELD UP
WELL-CLOSED AT 4 GAIN.
All the Markets Were Speculative
ly Dull and Without Features
of Especial Interest.

Bearish influences again dominated the
spcculatfye grain situation yesterday. and
whole IL was another red letter uar
for the bears. particularly where wneat
was concerned, the result being that in the
case of that grain lower prices went on rec
ord and the bulls once again took the back
track With the exception of the weather.
which was freezing. with no snow reported
around this locality. though there was
plenty in the Southwest, the factors upon
which the trade had to depend were bear
ish, and wheat suffered in particular. In
the first place. the cables from Liverpool
reported a decline early of I'D. and ac-
cording TO the same authority the worlds
shipments amounted to over 100000 bu..
without Danubian ports. and the amount
afloat showed a large increase over that OF
the week before. AS IL this was not
enough, the arrivals at all primary markets
were large. even for three days. and espe-
cially so in the Northwest. All this. OF
course, led TO selling right at the outset,
and II was INDUCED in so very freely that
the May option opened up ixQssc lower
than 1t closed last Friday. at I5atc. and
during the first hour or two of the session
ranged between that price and 7Ss.9ssc.
There was but little that was encouraging
10 be gotten out OF the late cables There
was &c advance reported at Paris, but
Liverpool closed sc lower for the day. and
Antwerp was unchanged. Late reports
made the worlds shipments over 100000
bu.. and the amount afioat was increased
100000 bu. Cables received by exporters
were as a rule. bearish, and they reported
no acceptances. but the clearances for two
days In -four and wheat were large. at
1. s2S 600 bu., and the visible supply OF this
country amounted to 1o2t.ooo bu. decrease.
against decrease of 1,O2i.Ooo bu. a year
ago. These two last had STRENGTHENING
influence upon the speculative situation, but
prices were backward about responding
ard May fuctuated between 1Sssc and i2s44
&c with only one trade at .3esG%sc- Moth
ing came to the front late of an encour-
aging character to the bulls. but sentiment
was still leaned to the buying side. and III
there were no advances of Importance. any
tendency to decline was checked. The casn
situation was no better than 1t has been OF
late, and the demand on exporters and mill
ers account was far from encouraging, 10
say the least. the best that the seaboard
could do being only loads taken. During
the last hour May sold on TO l512c. from
which there was a rally TO 13sc. but the
final close was &c of for the day, at .s'sg
Sc July at the same time closing at &c
decline for the day at 1Z5sc bid
In a general way the local market for
corn was in a much more satisfactory
condition from bull standpoint than that
If wheat, and instead of a loss there was
a fractional gain in prices. The news was
not bullish. especially at the outset. For
instance. wheat's weakness had bad ef-
focL and when followed by the posting OF
heavy receipts for three days caused the
local market TO open easier and 1-l6c lower
ut S73sc. There was a rally to SIC. from
this, there being q feeling that the bliz-
Zard raging over the West would curtail
shipments from the country. Liverpool
was Nd lower. though the worlds ship
ments. 80 per cent of which was from this
country, and the amount afioat had de-
creased S0sOe bu.. as compared with de-
crease of $4,000 bu- last year. The cx-
port clearances for two days were en-
couragingly large, they amounting to 1.Ei-
90 bu-, but this was offset by an increase
of 6SS, 600 bu. in the visible supply of this
country, as against an increase OF 5lO0o bu.
a year ago. The cash business here and
elsewhere was as poor ever, and the
seaboard reported but loads taken. This
market held up WELL however, and May
sold at 373sd3sc, and at the close was l-16c
better for the day at 317sq3sc buyers. July
being wholly unchanged at 3S4c asked.
The local market failed to show the un-
dertone of strength that has been one OF
its chief features for some tine past There
were good reasons for this, however, In
the first place. there Were very large re-
ceipts here and at other points. which the
decrease reported in the visible of 225,oO
bu-, as compared with an increase of 4ii.o0O
bu one year ago, could not offset and
May sold NC lower at 2534c, but at the close
was only lsc off at 2sssc bid.
On the Curb-Wheat steady. May. 13is9
nc bid; puts, 739sc to 731sg1zc; calls, 73s.c