The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-03-13
MAY Wheat w
IN CHICAGO MARKET.
AFFECTED BY GOVERNMENT
REPORT.
Corn Acted Independently and
Closed Higher-Oats Improved
Slightly-ProvisiOns Bullish.

"
REPUBLIC SPECIAL.
Chicago, ILL.,, March 2.-Wheat to-day met
the fate usual to it on the day succeeding
the publication of a Government report. 1t
lost some Of its previous value, closing for
May delivery at as@!sc below final figures
for the day before. Corn, on the other
hand. refused to conform to established
custom and left Off N9Sc above Mondays
close.
Oats were Influenced slightly by corn. and
improved 1-16c.
Provisions were firm and closed higher
and at best prices for the day.
Wheat.
Wheat acknowledged the Government re-
port on farm reserves to the extent of from
1sc to &c rise in price of May wheat when
trading commenced, but bowed Immediately
after In recognition Of prevailing bearish-
ness of local spectators. From 75iec to 75sc
to begin with, May settled quickly to 15hc,
or to the figures that were prevailing when
Yesterdays session was brought to a close
and later in the day still lower. That
quick quietus, to which some spectators
had credited the bullishness of the Govern
ments estimate on farm reserves. expressed
in action how little value was placed upon
them by the trade generally. How could
it be otherwise, when on the basis of 12S. Co.,
coo blu. reserves it would be demonstrated by
the use of the generally accepted figures
for consumption and seed, with exports till
harvest at their recent rate, that there
would not be a bushel In the country July II
The Government figures may be quite cor
rect. but, If so, then consumption and seed
requirements are much smaller than Is sup
posed, for there Is every indication that on
July l there will be at least 3O,O0o.000 Blu.
still remaining in the official visible supply
besides the usual unknown quantity on the
farms and Intermediate positions While.
ty. the freedom with which foreigners buy
American. wheat. as proved by the liberal
weekly exports. does not suggest any actual
necessity for further reducing the prices.
That was not the general feeling. however,
on the Chicago Board Of Trade this after
noon.
Wheat sold down to HN@75c in the fore
noon and after rallying later to .75ts475kc.
declined near the end to 74sc and closed at
747sg75c. New York reported 81 boatloads
sold for export.
Crop damage reports commence 70 he re-
ceived. several coming TO hand this fore
moon. and md some s9nert sales Mez. OF 1nad NO; on ! tho Hert earlR
decline. 5000 bu. being sold to Liverpool
at May price +. o. b. Chicago. Yesterday
New FORK is'' by a a Chicago Se; house. was - SOLO
for export. and several sEal. parcels low
| grade spring wheat and Kansas hard were
s sSla se iob ra1i S Thpse %featu aTs% Of ih the s:,u a.
ton caused a tirmer feeling and a reac-
ton from tho heaviness prevailing in the
as against SO last year. Minneapolis and
Duluth got 1863 carloads wheat, compared
with 215 a week ago and 9S2 last year. The
was 57S,O 900 bu., as against $4,000 blu. the
similar day Of the year previous. Clear
ances of wheat and -four from Atlantic
ports amounted to 800 tu.. The Brad
streets visible statement made $4,000 bu.
, reduction in worlds available stocks
Corn.
the wheat traders to the Governments re-
| port Of farm reserves OF their specially. the
market starting strong at from sc tohse
refusing to give up all the opening gain. as
was the case in wheat. Business was lively
for about forty-fve minutes. but ruled
J cars, e. Of which were contract, Such an
inS1ea5 p,v IN ca pse9o m1eb b OF ssgular q s Ehors
speculative feeling to-day; Such matters
much upon the direction Of wind, which was
blowing favorably for the bulls. A year
ago Chicago received 6A cars. 8 Of which
eago bids were small. Shipping demand
was reported little improved: New York
reported exports at 20 boatloads:. May corn
%gssc' returned agar to &c bid and closed.
Oats.
Oats were somewhat affected by the
strength of corn, and that caused some
shorts to cover. giving the market what
strength 1t possessed. Local receipts were
s1s cars. as against sos cars the correspond
ing day last year, and shipments from
Chicago were 2O6. 900 bu., compared with 20.-
COO bu. the like day for the year before.
Clearanees from the ATLANTIC ports amount
was reported here, but the business done
was not given. May oats opened at ESQ
&c, sold sparingly at A&o and closed at
Provisions were firm. without much bust.
ness passing. The strongest phase OF mar
showing a little activity at the same time.
5000 head. smaller than that Of the CORE
were 1900. with 800 estimated for to-
morrow. Prices Of provisions ut the close
showed the following Improvement: Fork
l'e' lard &C. ribs ' hse.
Although the wheat market was easier.
rye was independently Arm and ac higher;
Shipments 2.sss bu. Of No. .. and from; pri-
e eass S''v aish ! Improvement Haa " nei Of Ac in Sid
prices, with the transactions the entire ses-
sions in futures. trading being confined to
trk. for No. 8 and 511ac for No. 8 f. o. b.
March was nominal at 5c and May bJaisc
bid at the close.
Barley.
Conditions were no better in the barley
market. Receipts continued to be limited.
II cars. Prices were not materially affect
ed, sales being made at what the like grain
had been selling for lately, or 32934c for
screenings and 44Q4Sc for medium grades, at
which figures the bulk Of sales was made.
while Hc was bid for good quality with
Shipments were 1854 bu. and exports from
New York nothing.
FIaxseed.
F1axseed commenced 1c under last nights
final figures for the May delivery. but lator,
for the lack Of support. worked off another
1c. q net loss of &c up to within a short
time Of the close. May started at $1J53,
sold down to $L521s and was offered i'm
mediately afterwards at $1.52. Receipts were
smaller that those Of yesterday, IL cars,
amounting to $3.50 bu., and shipments 8
cars, containing 1890 blu.
Minneapolis arrivals were 8 cars. Local
stocks aggregated 99.26S bu.. q decrease of
2l.62s blu. Market, instead Of improving on
pressed than it was early, or 142hc lower in
bid price. May just before the close sold
at $l.53. but finished at $l.51h bid and
sL521s sellers. All other futures were neg
iected, as was spot seed. No. l North
western rested at $1.5411s bid and No.
$L5Sh nominally.
Range of Futures.
v% S;;'s1sii s.. G;sa' H;sa' 81 ''2 81:
May ...7Slsas 75s Hh Ssu
oSs: = ::nS:iS ~ iis 81, 81 s ss f