The St. Louis Republic., 1901-07-15
A BREAKDOWN
IN GRAIN PRICES.
HEAVY LIQUIDATION CAUSED
THE DECLINE.
Wheat, on the Break, Lost Two and
One-Half and Corn Over Three
Cents for the Day.

WHEAr-This grain did not pay the
slightest attention to the break in corn at
the opening, nor to the fact that Liverpoors
response to Americas advance of Sc yester-
day was only sd. The weather was hot in
the Northwest, with some rain in the more
northerly sections. and the trade was afraid
of the effect Of such conditions. fearing a
crop scare might be worked up on spring
wheat. The Chicago market was higher,
and such a pressure was put on here at the
opening that Septembers first sales were
65sc to 66c Gsc to NC higher, and soon sold
at 66isc. This demand soon vanished. so
much wheat came out for. sale. started by
the demoraization in corn, and in Il very
short time Sept was selling at 84lac. Dec.
| opened Sc higher at &c. and declined to
6!Ac. For July GiAc was bid. Receipts
were still heavy, amounting to 2t5.000.000 bu.
at this market.
The market whipped back very rapidly to
65lSc Tor Sept. as soon as this selling rush
was ever, but the decline had badly unset
tied every one. and a very nervous feeling
ularly. working back to 64ssc. Dec. had
6s1sc bid on the rally and later offered at
During the balance Of the session a very
| unsettled and irregular market held the
boards. Nothing was heard from Continen-
tai markets and exporters said their cables
WCLc sun lOO low, even Win lne DIX DFSdk
on this side. The fact that it was Satur-
daX tnterfered with export sales, also.
Clearances were $4,000 bu. for the day. The
weather n the Northwest held bears off
from raidtng the market, but there wasn't
enough buying to do any good. Sept sold
as low as 6issc and closed at 64%c asked.
Dec; Ss.i then had 6f1Ac bid and July 64kc asked;
isl cars local and 10 cars through. Lower.
but an accumnlative demand for all the
ss,fay s1ft winter offered No; 2 red seliing> at
to elevator. Millers' purchases were light
at 6is!c this and Csc E. side for No 2 red,
sSzsss ssSzzsasszc mo for No. red. No. 4 quotable at
goo No. red. prompt shipment, at sshc
loaded. In elevator. sacked No. 2 red sold
at hs,; ss&S & and No. red at slAc. Hard winter
sNc ~ a0Sxe @ Sayers views and 9uosabe at
Sorsl-Ihat the outsiders had the long
corn. and the talent Of the pit was an out
n. s,der IN IN the strictest sense of the term. was
only 100 plainly evident this morning. The
weather map. showed clear hot weather
nearly everywhere in the corn belt, but the
Sonditions were more unsettled than they
nave been. dispatch reported the drought
broken in Southeastern Iowa by general
rains, and rains We're also heard Of in KAN
sas. That was enough for the professionals
lower prices to shake out the country pyra-
mids. SO that they could get In themselves
on more Of. a ground-fioor basis. And they
lell upon the market tooth and toe nail
Country buying orders were not SO much in
evidence. and their Influence was simply nil.
On the other hand. the swift break brought
corn, and 1t was sell this Mt the best price
possible. That was all that could be done,
as there was 414c break inside Of six min
to 53'hc, and sold down to 50lzc.
Thsre was rush 10 get in on the break
| and tho demand came so active and keen
| great decline had taken a good deal of the
bull out OF the market. however. and prices
| settled back again to, sic. Most reports
| yet received. but they did not effect the
trad, the same Liverpool was dead cold,
| the cable reporting I'D decline.
plenty Of corn was for sale. as there were
| fears of rains over Sunday that caused
some selling out. The greater number of
an6 a SS had
and throw-out. stood by their lines right
we'll. Sept. sold OF late to 511zc, and that
asked at close.
Cash Market-Received 80 cars local and 8
| cars through. Lower and dead dull: the
market about demoralized by the break
down in futures. From store 10000 No. 2
sold for shipment at Nc over Sept, loaded
at elevator. A few cars No. sold at 521kc on
trk, and .62sxcs {. o. b. No. z white was of
fered at eSc and not a. bid could be. drawn.
oATs-The tumble in corn and the talk Of
| rains. present and prospective, gave this
grain an upset this morning also. Sept.
opened nc lower at 33c. sold down to S2ssc
dhu WS1S OAciSu dI o672ts May sOlo IL Aon Sh
| at 36c. and later offered at S5c. On the early
decline Sept. sold at 31sc, but later rallied
to she Sept declined ned, later to $sS but
| tirely neglected. Cash market-Received 80
cars local and Z cars through: lower and
little demand, but offerinss 80 small sellers
clined. BY sample, No. sold at s5c; No. 9
| at 34lSc;; No. 2 white at 39la@soc; No. 3
| white at Ss@5ec. and No. white at 3sG37c.
| at b2hc- but choice would readily have
| brought 5sc.:
FLoUR-Holders firm in their asking
| rates, but did little business. The advance
| rates have Completely shut out most for.
eigners. and it is very difficult to effect
| sales for export. One lot Of 5000 SKIS. was
worked late Yesterday. Domestic trade Is
fair. however. Prices on new flour are as
follows for car lots on trk.: Patents 8 500
| 3.45; straights S.15d3 30; extra fancy 3Q3. Is:
seaI = oel hard 9, w!nteE IN jats sk
ents ODD ss.eo@s5 in wood. 2oc less in
RYE FLouR-Jobbing at 81. IS in SKIS. and
coRNMEAL.-city meal, I. o. b., $40, and
pearl meal hkhgbin Frits and homny s. love-.
| as 7ec still bid for bran in large SKIS. e
trk.; mixed feed quotable at 72@73c and
mids at 75G80c. but prices entirely nominal
Il HAY-Reeeived. . So S. tons ton local and 60 tons
| through; shipped. 100 tons. A good, strong
market, with first-rate demand for old
| timothy. which sells at s13615; new in good
condition selling well. also; choice at N3.5
| OLA, Most Of the new arriving is in right
good shape. Prairie better and selling quick,
the best new bringing slsdi3 80, and No. |
| the best selling readily.
LEAD AND SPELTER-No business re-
ported: Lead quiet at si27hs for soft Mis-
| !te brands of which salable this months de-
! livery at $4.40 Spelter nominally S3.S21hs.
Prices ON Change.
The following tables show the range of prices
| in future and cash grains:
Closed Range Closed
Friday. Saturday. Saturday.
Wheat-July ....ssh 6,Nq6ik GA a
Sept. ..........s.SsS 66aG6ih 4k a