The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-17
CORN WAS STRONGER
IN CHICAGO MARKET.
WHEAT OPENED WEAK, BUT
CLOSED HIGHER.
Bullish Trend Due to Good Buying
From Scattered Sources-Pro-
visions Were Steady.

visions Were Steady.
REPUBLIC SPECIAL.
Chicago. July l6-Wheat opened weak,
but advanced and closed lie higher on
good buying from scattered sources.
Corn showed strength throughout the
session and shorts were good buyers.
Oats were lower early, but advanced and
closed higher.
Provisions were steady in sympathy with
the grain markets.
Wheat.
AT the start wheat was as weak as corn
was strong. The heavy foreign markets
and reports that the crop Of spring wheat
mad not been damaged much by the hot
weather caused the easy feeling. Large re-
ceipts here and at Minneapolis and Duluth
were bearish feature. Sept wheat showed
a decline since yesterday Of about Nc at
the opening to-day. but the buying by
shorts around this decline prevented a
further break. Sentiment was quite mixed.
but later on the situation changed about
ana the market displayed good reactionary
power. The rally was very we'll maintained
and the close showed Sept. up 1c and Dec. Is
Q1c higher. The lower opening was at
tributed mainly to the break in corn. de-
clines abroad and more moderate tempera-
lures In the Northwest, where there were
no showers. Receipts at Liverpool the past
three days were 10000 blu. Futures came
11sd lower London declined 1AG11ad. Ant
werp was unchanged. Selling Of long wheat
was the early feature, quite a few stop
loss orders being executed. The liberal To-
cal arrivals, sos cars. possibly was factor
At the decline prominent elevator interests
nd ,tucfD f1,rp h,tvo ovN
the market responded readily to the same.
Bradstreet's available supply showed a lib
eral reduction. 4,442OO0 bu., as against 292l =
wired the crop was now passing through
the critical period, and had been damaged
1870 per cent in South Dakota. but no
North Dakota. Harvest will commence in
South Minnesota and South Dakota about
the latter part of this week. The South
west and local traders were good buyers
when the market turned to-day and later
in the session New York reported as a
buyer The close was near the top for the
as against 2oa last year, local receipts large,
$50 cars. as against 225 last year. The esti-
mated receipts for tomorrow are 200 cars.
Reseipts at Western primary p, points were
Shipments were $4,000 bu.. against 45S LIS
$40 bu
Spring wheat was quiet and lower in the
early part OF session, but later strength
ened up. Winter wheat was in good de-
mand. and sales were generally made at
about cent below yesterday.
Corn.
There was nervous. unsettled corn mar
ket again to-day, covering range OF 2c TO
&c. At the start prices showed decline
but later there was sharp advance ani
prices recovered 2&c to 27s. Sept. closed
1lsc higher. Dec. 1ssc higher and May 1esc
better. The decline at the opening was on
showers In the West which however were
not sufficient to be of material benefit to the
growing crop. but these showers and genera
cloudiness throughout the corn belt suggest
ed more rain and the bears were active or
the selling side. On the break there wa:
free covering by shorts, and the longs wht
sold out at good profits soon reinstated theil
lines, causing a sudden advance. Local pro
fessionals bought the distant futures and the
country was credited with liberal purchase:
on the advance. Western advices were gen
orally bullish. and sent good buying order!
cal receipts were rather large-6sS cars. will
but 1870 estimated for tomorrow.
a @ as a aspR
of 17l,000 bu. last year. Western primary re
ceipts were $4,000 bu., as against $4,000 blu
last. year. Shipments were $4,000 hu.. al
against 463, 900 blu. last year. The shipping
demand was better. and a sale of 10000 blu
was made to go Southwest. Car lots were II
smaller supply ard good demand. The feel
ing was unsettled and prices were irregular
Corn by sample was in good demand ant
the bulk of sales were made at yesterday:
prices before the advance In futures came
Later prices advanced and the close was Rt
better.
Oats were weak with the rest of the mar
ket at the opening. hut closed within 1sc o
the top, showing an advance of 11sc to IA
for the day. Advices from the oat belt were
very unfavorable, and little Is to be expect
ed now. even with a good trade. TRADING
was large and commission houses had goot
buying orders. The demand for cash lot:
from the Southwest continues good and lot:
are shipped to st. Louis and Texas. where
there are better markets than here: Casl
sales here amounted to but 5000 bu., while
at the seaboard 10000 bu. were taken. Elk
port clearances were 10000 blu. Local re
ceipts were fair-l64 cars. but only abou
half that many are expected tomorrow
decrease Of 7s7.eO0 bu. and contracts de
creased $4,000 bu. Car lots to go to stor
were quiet and higher; oats by sample wer'
steady, but closed nominally higher, II
sympathy with the advance in futures.