The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-06
SCARED SHORTS
ADVANCE ALL GRAINS.
ASENCITED SET OF MARKETS
WAS EXPERIENCED.
Corn and Oats Were the Leaders in
Point of Strength and Set
the Pace for Wheat.


..,tnessad the ,iay before the Fourth. Near
~ every factor having an influence upon the
situation was lined up on the bull side.
but was far more effective In the coarse
than In the fine grain. corn and oats
holding the center of the stage in poin' Oh
strength, and We're more Of an attractioh
than wheat. While the different markets
generally responded to the bull Influences
they wers u little bit slow in doing so.
end tho movement of prices UP and down
Hus of an uneNciting nature thfouShoul
the day. There were no setbacks OF seri-
Gus character, however. and at the close
corn showed an Improvement for the "a!
of from &c to 1ac. while oats were quoteu
from lss9IAc to 2lsc up, and wheat, WHICH
WAS much less strong, was &c 10 Asq7se
better.
The opening here for wheat. TO say the
least was far from being enconr ras. :;
traders being confronted by an array OF
bearish conditions that. under ordinary CIR, en-,
cumstauces, would have played havoc WIN
prices but the support was so very go2o
conditions referred to include arrivals here
of over $4,000 bu- an estimate on the part
OF the Cincinnati Price Current that TINS
country could very o. easily ssfSa Yield Of
between 67a000.00Q and 1I5.0O0.00 bu. and so
lower Liverpool market. Considerable wheat
was offered for sale at the start ana SEPT "
6Slxdssc. while Dec. sold Sad lower al eSss
Gs.c. There was an excellent demand FOR
the latter. and it quickly reacted to eee,
carrying Sept. to 6Sssc. Ii was the runa.
way conditions that prevailed I'm corn ami
oats that most strengthened wheat ana
put 1t nearly into line with those grains;
There was hut little export business heard
of. and the cash demand was far from en-
couraging, the bulk OF the buying here be-
1ng to store in elevators. Wheat shorts be-
came ratified and alarmed over the excite
ment in coarse grains. and there was suffi-
cient buying late I'm the day TO advance
Sept. to SS7sc. at which II CLOSED sellers.
July. which had been offered as low as
62isc. sold at 62ssc. and Dec. was bid 66isc.
Weather. conditions yesterday morning
We're rather against any development of
bullishness In corn, thunoerstorms being
reported in Kansas. Nebraska and Iowa.
but In the Southwest hot winds still con-
unued. There were also complaints of dam
age TO the crop In these sections and Snow.
in his weekly report. was decidedly bullish
on the outlook. large amount of corn
was for sale AT the outset. and the best
that Sept. could do under the circumstances
was &c. the first sales being at 45i1c. which
vas followed by sales at 45asc, aud then
the market weakened to ioasc, but only TO
rally to 4sssc again. In the meantime July.
which was badly wanted by shorts. readily
brought c1zc advance. selling at 45lac. Again
did Sept fall back to s5s.c. but almost i'm
of the condition Of things out in Kansas
and free buying on the part OF longs. and
that option sold as high as 46ssc before
so were the shipments from Western mar
kets and the seaboard. the latter being re-
ported at only $4,000 to-. Argentine ship
ments were large. but. nevertheless. cables
said that Liverpool was up I'd and London
I'D. The demand for long account continued
70 improve and became quite urgent. All
domestic markets were higher, as nothing
was heard of but the destruction of the
crop by hot winds. The advancing tendency
OF corn hsd good effect and on the bulge
upward Sept. sold at 4s7sc which was
lsIic. $40 ''se W '''s@' NOMINAL az
{. a runaway market was witnessed in oats.
ana on Independent strength. though the
strength shown by other grains had effect.
Crop advicee were almost uniformly bad.
July was the feature of the market. and
was particularly wild and excited as shorts
were greatly alarmed by the fact that
cash buyers had taken about all the No. 2
IN the elevators The opening for that
.hn,ts, w aIs laslEc higher at s,sa and it
bid. Sept: opened sc better at 2S5sc, and at
once sold up to 2Sssc, which was bid at
close May sold early at Bic and later sIc
Traders Gossiu,
s.y condition IN edf he 9r ssss 5uad
dated June o Is $50. the lowest with three er
drought damase.. a. that has resulted from the
maes Missouri sna 1ssn st
Tens and Arkansas suffered severely. and
s.sasf ssDass sasn ios. 50 ana
Annois are nov In critical position. Returns al
81 'y Winter %sat f0f harSsss
pr Pr complete and justifies expectation Of
sns q sess eS Sn Oats s sdnd ipS
lover tnan month ago and crop largely fall
Aansas and Illinois. W
A special review Of the foreign situation from,
d s q bs the s71s1
than last rear: confirms the German deficiency
ef DS.,S r The German deSet Is a.e
q $50 oce Hu. The Russian Official report makes
the sprns M N sae a seath Is
cncgt " Acres This is little more than
Ella. '''.A" wheat area OF Rus-
,h M;Ar.sntine wheat shipments were 10000 Blu.
go be . year ago. since January i they y are
SO. ooe bu, compared with s. a6s. 600 bl. for
ba against bu ass w ,n,s v se6
i.ssSoo bu- . year ago. -''A
Is snfsinns h condition. N see s con s59P
tsns e ss sS S S equal to bu
5asorahly. except In the Southwest. where > rain
a London cable reports that. estimates on the
exportable surplus placed at 46osO 900 bu anu
Modem Mo- MILLER ou.9ok The winter wheat
sS fdss finished in the southern
dud and the Yield is fully up se II sy not PRO- se
wheat 70 market is increasing rapidly. and pr nsM
ases to become general much earlier than Usual
Il e an. sss ' W.ssTn vf s. ass S%
sSns e ssS At 81, Louis raid for mixed
say they Will have shin their raff