The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-06-02
WEATHER MARKETS
PREVAILED IN GRAIN.
SPECULATIVE SITUATION
STRONG ALL WEEK.
Wheat Led in Strength and Closed
Largely Higher-COrn and
Oats Made Good Gains.

The speculative grain situation in general,
and especially early, was quiet. and in this
respect somewhat Of a disappointment from
a traders standpoint. but otherwise it was
much more encouraging and satisfactory.
Later In the week there were periods when
there were signs that could not be miscon-
strued. of an awakening in speculative in
terest, and this was particularly true Of the
closing days, when considerations came to
the front that not only injected more life
into the different markets. and the dealings
in the pit on change became more lively
and larger. but the strength that had been
more than once in evidence. came boldly to
the front. prices advanced sharply and
closed at the top. ard very mucn higher
for everything in the cereal line. Early the
trade was pretty much at sea and backward
about making ventures. as they were with
out that necessary adjunct to speculation.
cables. These were not received for several
days. owing to the holidays being observed
On the other side. and especially in the
United Kingdom. As a result traders were
naturally dependent upon domestic advices.
which consisted largely of crop and weather
conditions. neither bulls nor bears were able
to get much satisfaction out Of the situa-
a rule we're narrow and unsatisfactory to
both. Later, all this was changed, a strong
feeling being developed, speculation on the
hieher average Of values was recorded and
well held to the close. which. as before
stated, was right at the top. and very much
higher than the week before.
Wheat throughout the week has shown
evidence Of doing better and the crop con-
s~itionsssnd weather have been the chief
factors in bringing this condition about.
There was not a day that passed that the
Northwest has not sent IN numerous com.
late Il has been AGAINST any advancement
to the spring wheat crop all through that
section. and rains were badly needed TO
save the grain from serious injury. This
has had material effect upon values and
developed n bullish feeling which has grown
rapidly ard resulted In higher prices. the
climax being reached yesterday. From the
winter wheat country were received reports
of damage by fly. though these were not
regarded like the conditions prevailing IN
the Northwest. and did not have near the
same influence. the belief being that these
reports were exaggerated and a large winter
wheat yield would be had. especially as the
Government and other authorities stated
that the conditions were favorable. Spell.
lation during the week. and particularly
late. was more favorably inclined tn the
able broadening of trade. The cash in
terest did not take hold very freely either
here or elsewhere. though some encourage
ment was gotten out of the weeks sea-
board clearances. which fell. but little be-
low hose of a week ago. and last year. al
three running over 100000 bu-
This market was handicapped early In the
week by a lack of cables. foreign markets
being closed in observation of the Whitsun-
tide holidays. ana the news from the other
side was 80 limited and unsatisfactory as to
make traders cautious In their dealings and
prevent any demonstrations On the part Of
bulls and bears. Receipts during the week
were large. considering the season OF the
year, and the amount set afioat by export
ing countries was also large. being over TO-
M5.OOO bu. Grain on ocean passage, on the
other hand. showed a decrease Of 1.l2l.000
bu.. and there was a decrease in the visible
OF this country of c.<3:.0n bu.. and Brad
streets figures fell or over 4.000.0e bu. in
the worlds visible and 1.2s2.000 blu. in the
available east of the Rockies. All these had
their influence In a way. but were not in IL
with Northwest crop conditions. and the
wheat market throughout the week has been
a weather one and Influenced more by that
and crop conditions than everything else
combined. During the last two or three days
OF the week these factors have been NEST
influential. and the result has been tina the