The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-03-13
GOVERNMENT REPORT
CHIEF FACTOR IN GRAIN.
WHEAT SUCCUMBED TO
BEARISH REPORT.
speculatively, Outside of Wheat
Selling, the Situation Was In
clined to Be Quiet.

Selling, the Nds III
clined to BE Quiet.
The news having an influence upon the
different grain markets yesterday was both
buIlish and bearish and the situation SUI
fered accordingly. The keynote 10 the two
leading markets was the Government on
reserves In farmers hands. which was Is
sued after the regular session the DAY ne
fore and which was considered bcarish on
wheat and Just the contrary where corn
was concerned. This reports showed H.
900 600 bu. of the former remaining IN the
hands of farmers and 776,eoo,@o bu. of the
latter, while in the case of oats there were
said TO be 2s2. {. coo bu on hand. The frst
was considerably above what the buiis
looked for. but at the same time was rnlv
UP to the expectations of the pears whlie
that OF corn was considerably less than
had been expected. consequently a weaker
and lower market was experienced in wheat
and a strong and higher one In corn, the
result of which was that where the former
lost ground the latter gained. the afhoun's
being nearly the same. The selling OF
wheat and the buying of corn on TINS re-
port was quite lively during the day ana
more life and animation was shown than
for some time, but II was chiefly of a pro-
fessIonal character. outside interest mol De-
ing conspicuous at any time during the
session.
Yesterdays session OF the local wheat
market from the standpoint OF the puis
was an exceedingly gloomy one. Traders
we're generally Influenced bearishly by the
Government figures and a net decline OF
3,QI,c 10 iac took place during the Gay
When the market opened up traders were
prepared to see lower prices right at the
I,s NLa fnof fhof IJNprnDOl WAS ~
higher knocked their calculations SKY hlsh'
and instead of there being a selling pres
ure at II the ens opening min u,x there ept,sn w ilisc I Better
than it closed the day before at 1850. and
for some little time this market ranged be
tween 73Ec and 1850. However, the effect
of the higher Liverpool cables did not last
very long and the bears commenced 10 ger
In their work. They were helped by the
side of the Northwest. where they were
said to be light, mild and spring-llke
weather with no damage reports. together
with the Government figures. all Of when
created a very decided bearish feeling and
as the buying had ceased there was a let
down in values. Liverpool closed Ad higher
for the day and the clearanceS were very
fair at 45S.U00 bu. but aside there was MOTH
ing of an encouraging nature In the con-
ditions at home or abroad on the decline
proved to be the low price Of the day, and
July had a seller at 72c; The effects of
the noon hour and which showed a decrease
OF 4.000 bu. IN the worlds available. where
a year ago the decrease was only lS?'.S
blu, and which with the decrease of 100000
bu. East of the Rockies suggested a re
duction Of 5000 blu. outside the regular
visible. was in no ways pronounced. and
way or the other. May rallied to 1Si4c and
July had 72lsGkc bid. but as there was
nothing in the least encouraging in the
cash situation and no news OF a strength
ening nature coming IN a weak spot de-
yeloped and May sold late at I3lsc and final
y closed at a loss for shom the day OF asaisG at
during the day, the feeling having grown
that this option is a good sale on crop
prospects. Not much attempt was made 10
sell yesterday, but the undertone was very
weak and at close It was &c lower for the
day at 10 sellers with nc bids.
While there was considerable bull senti-
ment created In corn locally by the reported
Government figures on farm reserves. and a
much stronger condition OF affairs prevailed,
as many had predicted when the report had
been made public the day before, and the
early advance of 1c was not held through
out the day. The strength shown early was
further helped by the fact that Liverpool
was sd higher, instead of being lower. as
was expected. This helped the market won
derfully and the opening here was strongly
bullish and &c up from the previous nights
closing at ss1sc. from which there was a still
July in the meantime selling at ssisc and
being quoted at 391k4hc bid. After the early
buying had ceased. this market eased off a
Itties tu6 QOWuWdTu IeuQeuCy OIL the market
being helped along by the posting of heavy
receipts and only moderate shipments, to-
gether with smaller shipments and clear
to ssac for May and to ssIc for July. Brad
streets report was not Of a nature to
strengthen the market. but neither did it do
there was an increase of 1,262, 600 blu. in the
available. as compared with an increase of
10000 bu last year, and where the regu-
lar visible was increased 1,250. 600 blu. a week
ago. Toward the close, the undercurrent of
strength again cropped out, Chicago being
S ofry so ssTenss Sat 1 1se1e Sas Nav No cash sh,d business sir IS
39hc. and closed &c. better for the day. at
that sellers. and July closed Nc higher at
3912c buyers.
The future market for oats was weak all
through the day, and presented no redeem
not regarded. the weakness being due largely
to the general weak feeling existing. There
was not much trading, but May early sold
25Ac bid. July was unchanged at &c sell
ers. According to Bradstreet's statement.
there was a decrease of $4,000 bu; in the
a year ago. and 2ss, 900 bu. increase in the
regular visible last week.
ON THE cURB-wheat steady. May sold
at 7shc: puts. 73G73iec to 7sc; calls, 73hc.
May corn puts. 39c. and calls. 39lsc asked.
ment-room Of the Merchants Exchange
building.
TrAdera' Gossfp,
The report OF the Department Of Agriculture
on farm reserves of wheat was a Disappointing
one to the bulls. and on corn and oats to the
bears. Whether 1t will prove to be a buIlish
influence on corn and oats and a bearish one
on wheat remains to be seen. Certainly 2,S-
10000 Blu. wheat is enough to meet all require
ments until another crop is harvested, and with
LIS. 000. 900 blu. on the farms and III, 000, 900 bu. in
available supplies Of wheat and flour, that is
the amount that can be depended upon during
the last four months Of the season ~igpl-leOl. If
exports keep up at the rate wheat and -four has
carry-over into q new crop will be unusuaIIv
small. but As "a, 00. 900 blu. met all reouirements
during the last four r,optbe ~