The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-05-30
THE GRAIN MARKETS
WERE A DISAPPOINTMENT.
STARTED OFF WITH APPEAR
ANCE OF DOING BETTER.
After Making Some Gains They
" Weakened and Lost Ground
Wheat Closed at a Loss.

Tho speculative situation in general ana
espccially where wheat was concerned was
a disappointment from n bull STANDPOINT
During the earlier hours. Notwithstanding
the limited speculative interest manifested,
tbe markets of the country developed con-
siderable strength, but in no single IN
stance were they able TO maintain II TO 'he
close, a soft spot coming to the surface ia'e
ana most of the gains were Wlpeu Out
There was no particular change IN general
conditions and much the same influences
that have proved effective during tne pres
ent week were again in force. wheat as
,s,al attracted most attention and was the
leader in both strength and weakness. max
ing the most gains and losing the most
ground, with the result that after aoVan-
cling sharply it closed hGi4c better To i-ioe
to l.c lower. The cheaper grains, winch
were considerably better than on the day
before, were fairly well maintained ana corn
ciosed isI1.c 10 Sc higher Tor the Jay
while oats We're steady to t2c up.
Fresh impetus was given the upwaru
movement of wheat values yesterday morn
ing, and they reached a higher lever tnah
they nave so far this week. Inc pulis re,
ceiyed help from Statistics. and crop anu
Weather conditions, but they-were not aole
10. maintain the advantage and the very
best that they could do was 10 close the
market slightly higher for the tar-oI Up
ton, but lower for nearby, though at one
time the July future was up Sc, All Oh
which was wiped out and a lower close re-
corded. All the early influences We're Oh d
bullish cast and induced buying, wniie CIV
ing shorts a nervous chill. This was espe-
cially true of the weather conditions IN me
Northwest and Southwest, where urE
weather still prevails. From Illinois came
reports of dry weather, ana also damage by
fly. Liverpool. after several days non.
the markets abroad We're affected TO some
extent by the strength shown on this side
OF late. The buying during the early hours
was quite spirited, the evident OBJECT OF GER
tain longs to run shorts in being plainly
seen. There was the usual batch of bad
crep reports received from private sources,
~refatinS to both spring and winter wheat,
ard there were some bullish market cables
from the other side. Berlin reported ad-
vances of l:sa2c. and Paris Nc, Antwerp
was unchanged and Liverpool failed to hold
i;s full advance, that market closing but
sd up for the day. London being Esd better.
Ciearances were only fair at 10000 bu. in
for the week. against 3.377, O00 blu. a week
ago. The opening here was encouraging.
July showing an advance over night OF &c
10%c. Sept. was in better speculative de-
mand and sold at 6Slsc to 6s7sc. This good
position held until reports of rains in North
by those who had bought early n weak
ened the market, July selling off to 7OAc,
and Sept. from 10c to 6sisc. The reported
rains in the Northwest were what knocked
the bulls out. and SO changed the aspect
of affairs that long wheat was thrown up
on the market almost regardless, as a great
many longs We're not inclined to carry 1t
oyer Thursdays holiday. On the break July
sod as low as 10a 7cisc and that was asked
at the close. Sept. was offered at 6Sl4G6Sssc,
but the closing sale was at 69asc, and May
leads were reported and 800. 600 blu. were said
to have been sold at Chicago for the sea-
D.. board.
While the local corn situation was quiet
throughout most of the day, and parricu-
larry late. the market was quite strong and
wheat. and the close showed gains instead
of losses. The early influences, which in
elused wheat; were hullish; There were ex-
though the totals at Western markets were
again quite large. The shipments were good
from primary markets. but not SO from the
Seaboard, the ~clearances for the day being
but Sos!0oe bu., while for the week they
were 1.6S9.00 bu., as against 1.651,O0 bu.
last week; Both Liverpool and London
early in the day was quite brisk owing to
= the strong feeling prevailing, and July OPP
eaed ,sakc higher at 42sssc, and at once sold
sc to size. There was very little TO this
market. during the closing half. Export
business to the amount of Is loads was re-
ported at the seaboard and most of the con-
tract grade was taken here to go to Phil
adelphia, but these had no influence upon
the market. which ruled dull. July ranged
ueiNeeH fsTHW go HI 7ETSS, anu CioSeu at ldC-
ter bid. May was nominally 4211sc and Sept.
at 42:sc.
Oats ruled strong most of the session,
having independent strength of its own,
which was derived from the Government
weekly crop report, which was bullish.
There was considerable buying on the
strength of this and July sold at use to
sc. and closed at latter asked. September
sod at 26isc and 26hc, and closed at 26A@
&c bid, and May was offered at &c.
80 "