The St. Louis Republic., 1901-07-16
SHARP BREAK RECORDED
IN THE GRAIN MARKETS.
ALL STARTED OFF STRONG,
BUT WEAKENED.
Corn Lost Most, Declining a Point
Wheat Lost Less, and Oats
Were Well Sustained.

The bulls in grain yesterday We're a dis
gruntled set when the situation closed. all
their expectations coming to naught. the
bears having the best of the argument dur
ing the last half Of the session. Tho start
in every way was favorable for the longs.
al! the markets opening up bullish and
sharply higher. This good send-off proved
TOO tempting for the longs. the prices re-
corded being too high to be resisted. and
on free liquidation, due to reports Of rain.
and there was a break In prices OF from
I:sc to Sc, corn being the chief loser. The
pit on change was a pretty lively piace
during most OF the day. and especially early
when the big change in prices took place.
The trading throughout the day was heavy
and was accompanied by considerable eN-
element and the day was hot one, specu-
latively, and in a meteorological sense. The
greatest decline for the day was In corn
which market closed at loss OF 10, Whlie
wheat was only Nc to itdAso lower, ana
oats. which held up remarkably well. even
when other grains Were breaking. cioseu
from 5sc to 10 better than on last Satur-
day.
Wheat yesterday was subjected to some-
thing of a razzle-dazzle, and during the ses-
sion traders saw largely higher and largely
lower prices the market starting off in
manner to arouse bullish enthusiasm. ana
then under a selling pressure, due chieny 10
the collapse in corn breaking Sharply, ana
closing somewhat lower for the day. Pretty
near everything having an influence upon
this grain was bullish. There were reports
of farmers holding back their wheat. but
the arrivals here were over 70.0o0 bu., the
heaviest for the season so far. cable 80,
vices Of all k.nds were bui!ish, oS.n Engiahmu that
was killing the growing grain Ihere was
also a falling of in exports from Russia,
ard the amount on passage sage deeread there Sad bsen
only $1,000 bu. decrease. The weather was
extremely hot in the Northwest, and dam
@ss ass sway higher Ss % snd % iii domestic mar
kets appeared to be OF the same idea, While
last. but not least Liverpool was well sus-
and ansa alter n opens ss n on oae sasssed TIE
market here was very excited at .he cut. cut.
get. and 20 keen was the desire Ire 10 buy a that
liately bulsed to e61ic. There was a rush to
sell on this advance, and the pressure con-
nssd . In 70 the s sSeys Sd peH 'sG
I predictions Of rain to as low as 641sc. In the
meantime Dec. which was quietar. sold at
Ssc down to Sc large 1ins amount S 9f tnare ioae
who favored the bear side. Sept, Turing this
. never got below 641hc. while Dec. sold at
s7xc. Closing cables reported Liverpool 80
higher for the day, and London dnchapged,
10 SO Oh. % The export ciearances Of flour and
reported decrease Of ;7os Soo Sp, in the visi-
exhibited no disposition 70 rally. As the
market drew tS s0se the snsrs was weot 0fs
TO e4ssc. closing at 64sGasc sellers. Dec. sold
at 67sc. and S7,1c was asked at the close.
and July had q seller at &c.
The local corn market was strong early. It
having recovered from its bearish attack
s SrStee an
from the country and also from local spec
! ish as ever, hot, clear Weather prevailing in
the Southwest. little rain being reported
and damage reports coming in With every
iisc to zc higher, at &c to 5slsc. but this ad-
vance was not held long, as 80 much corn
came out the market gave way and went
! 1y to t2Nc. but another break came on re-
: ports OF rain In Kansas and unsettled
weather conditions. together with the re-
greatly exaggerated. The selling increased
Son this let-down, and Sept. went to 5O3sc.
and as the selling by longs and on stop-loss
but reacted to SIC Liverpool reported a de-
cline for the day Of I'd; the clearances were
only 5000 bu.. but receipts were light.
that good rains had fallen in Kansas, and
were predicted for Missouri which checked
all disposition to buy. The visible Of this
country showed decrease Of 4O5 900 bu.,
and the amount afioat increased 256000 bu..
whereas laS year there was an increase of
$4,000 bu. in the former and 1.32s.ooo bu in
the latter: At the close July was nomi-
+ naIy bOc. Sept. selling and closing at 503ac.
There was . much stronger undertone to
oats yesterday than either wheat or corn
. showed, but the situation was comparative
ly quiet Crop reports were almost univer-
sally bad. receipts small and no selling
!. pressure on. The opening trades in Sept.
: were at &c advance, at 32ssc, and later s2s.o
was Paid: but the market went back to
$50 shortly after. The predictions for rains
and the break in wheat and corn caused
: weakness to appear, and Sept. went to and
closed at Sztsc: May sold at S5i1sc and closed
at that asked. July was nominal at 33c
The visible supply of this country decreased
1.7HO00 bu.. against 100000 bu. decrease