The St. Louis Republic., 1901-01-03
WHEAT MARKET WAS
VERY ACTIVE AND BROAD.
CLOSED SOMEWHAT EASIER
AT IL CENT DECLINE.
Was Up Two Cents at One Time
in Trading-COrn Also Was Tn
settled and Closed Lower.
EEprnLIC SPECIAL

REPUBLIC SPECIAL
Chicago. H.. Jan. THE wheat market
was again active and broad, fluctuations
hcing sharp and frequent within 2c range.
The feeling. whiln quite unsettled AT times.
was easier on the whole end the clos"
shows about iFc decline. Tile start was
lower. with local professional selling the
feature. commission houses being good buy
ers. The trade In corn was of fair volume
and III" market moderately active. cover
Ing about isHt.c range. The tone w0s a
little unsetiled lower prices ruling early.
followed by stronger feeling. but the adj
vance was not wen sustained. Jan. closed
ss"izc ousier: May i.Hiac lower. oats were
active. excited and isatsc higher for May.
In sympathy with wheat. when the hitter
broke. oats followed and closed at isHi.c
better for the day.
wheat.
Trade was heavy nj the opening. with
much for sale AT a reduction OF from &c to
H.c under Mondays closing figures. and
quite as great quantity at the reduction.
Later. when the bears and weak-spirited
bulls. who had ~ much for sale at the
opening. had dispose-i OF their wheat. the
leaders OF the bull movement had not yet
Hatisiied their craving for their nelghbOrs
grain and kept buying aud shouting higher
bids az an inducemcnt for other sellers TO
appear. and. the latter not responding with
sufficient CELEBRITY. the price had 20 be raised
2c from the lowest point at the start. and
that within little more than an hour from
the opening Of the session.
The first transactiOns IN May wheat were
over a range Of from 0atc down 10 T1c, ana
for about twenty minutes there were sud
den and numerous changes UP ana down
between the limits Of &c and 1I@sc. At the
end OF that time thd readiness with which
buyers took the offerings AT whatever price
alarmed some local and 0utsid" short sell
Crs. who had. most unwlllingly. 10 become
buyers themselves 10 save something Tor
future margins
The opening decline IN wheat was chiefly
due To the effect upon the local total Of the
delivery on Jan. contracts before the ses-
sion commenced OF about i.ep).Vl0 bu. The
principal foreign exchanges. wnere wheat
futures are traded I'm. were closed, but l.lv-
crpOOl quoted ON the spot wheat cunsiier-
ably higher. Argentine and AmeTioin No.
. red were each up asd a Genital California
wheat was lizd higher. and No. Northern
spring wheat was at an advance OF I'd
Northwestern receipts, compared Win
appeared large. but were in reality small;
the go ears reported to-day. against .5l the
correSpondlrg x day last year, being misiead-
ing. the days number being the accumu-
lated receipts since Monday morning and
last years only for one day. An estimate
ascrlbed TO the Argentine Minister Of Agri-
culture. giving the exportable surplus from
the seasons crop OF 100000 tons, or 65.SDp.-
90 probably had much To- DO with the open
ing decline. but indications. such as small
offerings to Europe Of new Argentine
wheat. rather point TO the Argentine Min
isters estimate being more largely infu-
enced by his hopes than By the facts.
The local receipts OF wheat were 3l3 car
loads and the total at Western primary
markets were 6ll.Oo0 bu.. belt < for two days.
against 5000 bu FOR one day & at inc sim m
clcarunces OF wheat and flour were equal 10
10000 bu. or about 10000 bu. more than
received at all the Western markets In the
" Haya Rra1Sfreer's reD0rta0 ttff. D
bu. decrease in the worlds visible. against
] 3oo.CoO bu. increase the corresponding week
last year.
Antwerp quoted sc a bu. rise in wheat.
London from Sd TO Gd advance in Hour.
After reachifg sc for May wheat; there
was naturally great deal or selling 10
realize profits and a severe reaction, which
brought the price back 20 Tisc, and IL
closed at 77l.c sellers.
Corn.
The market was weak and firm and weak
again. but without any violent or material
change from Mondays final prices. The
professional feature of ythe pit trade was
by George Phillips.
Local receipts were us cars. with 4H es-
timated for tomorrow. The aggregate re-
ceipts at the Western primary points for
two days were O5s,0o0 bu.. against 7S2.yO
bu. for one day last year. The clearances
at Atlantic ports since Monday amounted to
1.4se.o0 bu. Stocks OF corn In Chicago
elevators. public and private. are $4,000
bu.
May corn opened at from ses.l9s7sc TO
367sc, rose to 57i4c. reacted to 5shsc. and
closed at s67sc. as against &c Monday.
Oats.
Oats were lively and quite bullish for the
first two hours Of the session; less active.
but with q slim bullish undertOne to the
close. The strength In wheat encouraged
the big longs I'm the market to add to their
lines and much Of the selling was for coun-
try account.
Local receipts numbered AZ cars. and the
shipments were 1850 bu. Seaboard clear
ances amounted to only 23,eoo bu. Chicago
stocks In both public and private elevators
were reported at 5.592.0co bu. Estimate Tor
to-morrow's receipts was 2l5 cars.
May oats opened at from 2iisc TO 2fi.c. and
closed at 243sc. the total range being from
2iisc to 2issc.
Rye.
Rye was weak and of II, with fairly
active market at the reduction. Receipts
were Iight three cars. and shipments moth
ing. There were TO exports from New YORK.
Jan. opened at 4s&4c. jumped to 49c and
closed at 4sizc bid. May began at 5lszc,
sold later at 5lasq5iS4c, but reacted toward
the close. and finished at sic bid. and 51iic
sellers. Withdrawal from private elevators
was l car OF No. . quality. Spot rye. No.
9. T. o. b.. sold at 52a SC. and No. on track