The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-31
SHARP REACTIONS
IN GRAIN MARKETS.
FOREIGN BUYING CHECKED
DOWNWARD MOVEMENT.
Local Market Responded With
Good Gains and Closed
Strong and Higher.

iltrt WIS Il very CtNlueC ana We'll mann
tanned change for the better in the position
of the local grain markets yesterday. the,
all making good gains and closing RICH
up near the top prices OF The day. 1t wa.
Very evident from the actions OF the various
markets at the outset that the selling
pressure, so conspicuous Il feature of til,
speculative situation ever since there Were
reasons FOR The belief that the long drought
had been broken. had about exhausted Itself
and reaction Was due. i majority of
traders were of this opinion when the mar
kets opened up for business and it only
needed some good backing in the way of
foreign advices 10 cause them to once again
range themselves on the buying side This
news was Forthcoming right at the start
cables coming in higher with the informa-
ton that foreign buyers were In the mar
ket. Good support was given all grains yes
terday. traders taking the long side and
buying freely. with the result that prices
Tor both fine and coarse grains advanced
sharply. The strength developed was one
of the chief features of the situation from
start to finish. and the close found every
thing In the cereal line very much higher,
corn leading with gains of li.c to lieaPsc.
with wheat good. strong second. with an
improvement of from lc to 1ssc and oats
from sc to ilsc higher.
Local traders were agreeahly surprised
at the strong cables received yesterday
morning from Liverpool, particularly as
the markets On this side had closed sharp
~ lower, and they were 80 impressed that
They at once changed their tactics and
turned from selling TO buying wheat with
the result that the downward course OF
prices was checked. and the market here
reacted sharply. Liverpool opened asd lower
and then advanced ed. This was sufficient
10 strengthen All domestic markets. and
start St Louis of with an improvement OF
&c, at e5c. for the Sept. option t:5d6ii.,c be-
Ing shortly afterwaid biG. The arrivals
mere Were smaller than those OF 4 year ago.
but as other markets failed to hola up their
END, chicago turning weak on heavy re-
celpts ana elevator men selling, and the
weather conditions In the Northwest were
favorable. being reported cool and clear.
the buying that Started off SO briskly here
was checked. and the market eased off to
eo1sc, Dec selling in the meantime at bS5sc
TO eSssc On advices that foreigners mad
been large buyers late the day before. ;lieir
purchases amounting to $40 loads, and that
they were still in the market, so encouraged
the local crowd that buying was renewed
with Ngor. SO that before the noon hour
Sept sold at 66ssc and Dec. at 699sc. Late
cables were as encouraging as they might
have been. Liverpool declining and closing
at SO Of for the day. while Paris was only
&c higher, Berlin of &c and Antwerp and
Buda-Pesth ssc. The export clearances OF
they amounting to $4,000 bu., hut Brad
streets report on available supplies was
bearish. Considerable excitement was
created In the pit late in the day by re-
ports that enormous quantities of wheat
had been taken at the eeaboard by foreign
ers. and especially for France. reports stat
Ing that LOO loads had been sold for the
Continent This worked traders up to q
high pitch, and the buying for long account
was SO heavy that Sept. sold IN to SIC
and at close bid 66s4c Dec.'s later sales
were at 70c. the top for the day. July was
very strong all day, selling at 65$.c early
and quoted worth 66&c at close.
Although rains were reported on both
sides Of the river and the weather was very
much cooler, these conditions were not
worked up by the advices from the other
side and the strong opening in wheat. The
reaction OF I'd at Liverpool. which market
opened at I'd lower. and the strength shown
elsewhere. started buying right at the out
SET. which, while not of a lasting character.
advanced Sept. es@3sc. and the opening
sales were at 5ikc. from which there was a
let-down to 53iac. Dec. sold at 5il2c TO Sic.
Buying was resumed later on the reports
OF damage to the crop in certain localities
ana the betterment shown in wheat. and
o4stc- Receipts did not show any increase
and country selling offers were small. but
so nc were shipments n, while the days clear
failed to hold its advance. and closed I'D
on for the day. The buying for long ac-
count; instead of falling off. improved
abatement of strength to the close, top
rates being asked and obtained for Sent
that is. 551sc, while July and Dec closed
lively.
Higher bids ruled In the local market for
oats, and trading was on a higher basis all
the sympathy Of this grain with wheat and
corn. and especially the latter. The opening
sales sal In Sept were &c higher at salzc. while
weakened ana fen back with It'll other n rrnins
sepS: going to SSMc and May being offered
at S1tc A rally followed. and as the de-
mand continued to improve prices continued
been bic. selling at 35c. at which II closed.
May sold at BIC and later was bid S72sc, and
ma closed at S1s.c bid. while July was
Cash Grain. Flour, Etc.
wHEAT-cash Market-Received 1861 SKIS
and ...,r,o. ssrp S make. S,lerlnss q
exporters on old aaes and s. the ef ssra Winter
difncuit e purchase in the country, Demand
70 as high As Nc f. side for 10 2 REL With
ssssssse shis and s for 40 90 ~ red
side: No. red at s5Qs6c. Skid. in elevator nj
a4e for No. Hard Winter G scarce and rex No ana
Turkey salable at iac Sept. selling a. exc
ora Org no selling at 66ssc. New No. spring
CORN-Cash Market-Received 20 cars .Iocal
shpmsnt. orders coming from many points in in
but little local demand sales delivered Of No
&c for No. yellow: No. white at 5si.c e. and
ssSe e. side: No ; white at 55sc this side:
cars through. Higher and an excellent shipping
asn s.,.a manly ss OF on orders Local fsdeF bought
white at ssNassife and old sssasac: No. white |
at s7liTssc and old 3sizc: No. 4 white at $50 |
RYE-Higher and ready sale to order buyers for |
shipment to the West. No. sold at inc del
this side and on E side. and No. 3 E. side eie- |
FLOuR-Steadily held at the latest reduction |
In price, but market very quiet and business |
out Monday orns onp abroad 20 SaP ba, there
was no response during the forenoon. Domestic |
demands continue small. Quotations on soft win |
straights s. l5asso extra fancy ssas Is: Clear
g .Gog2. So Hard winter In 5ute SKIS. s2.tod2.7o |
slssr f'Ss r for sTshs and
RYE FLouR-Jobbins at $3.50 in SKIS. and |
coRNMEAImcrty meal {. %; b. sa.s5 and
sran Sold sEs side at c n snd ss at
CSC to local feeders and at Sc for shipment |
Me, ST., but Sesed red East e. St Louis rate at sc
through Shipped is toms s oerne. G large g ans
mnnd and some orders here but this outside |
buying has decreased since the rains. About |
all h,s the sscepts wa. new and mainly timothy
on trk. as follows: Old timothy, sieGpis; 50 for |
sis for choice. SO 5Oa1s5o for No. /: s1aaii Tor
No, ?. Clever-New slS. se7l4 for No j. New |
g5.Ns Sf foS es s'ss. SIS for No and 81;
LEAD AND sPELTER-steady and quiet for |