The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-09
STRONG AND WEAK
WERE GRAIN MARKETS.
COARSE GRAINS AGAIN LED
IN STRENGTH.
Both Corn and Oats Closed With
Good Gains but Wheat Was
Largely Lower in Price.

Developments yesterday in the grain mar
ket OF this country we're. IN the main, ben
>iciai to coarse grains. but were just the
contrary in tbs case OF the higie--priced
cereal. that grain ehomins almost as much
weakness snd declining nearly as much as
corn showed strength and advanced. None
OF the markets vera what could 30 called
lively or were untulS eacite6. a,ie the great
er part OF tbs ia.+ tbs pit Ola change was
rather quiet place. tbs dealings being
slow ana comparatively small. Tho general
situation was very quiet late in tile session,
the markets drifting along in an aimless
sort OF way. and the close was at loss
of from &c to 1aiso IL wheat, while corn
and oats were both higher. the former
showing an improvement of 80 to 1isc end
the latter OF 40 to 1%c.
It was tho great strength Of corn that
kept wheat from collapsing completely yes
terday. the backing received from the Gears
er grain holding the market up comrara-
lively well during the earlier hours. Inc
arrivals here were large, being nearly o'N'
900 bu., but the decline Of sod at Liverpool
was tho most effective. though the strong
corn market caused shorts to buy quite
freely. and there was no selling pressure
10 speak Of. The worlds shipments fell be-
low the expectation Of the trade, notwitn-
standing that India he'd increased her ex-
ports largely, and the amount on ocean
passage decreased 2,0ss,oOo bu., as compared
with, 1i5:00 bu. year ago. The lower
Liverpool market opened the market here
4sxrjSc lower. at 62'tc, and July sold tic ana
Lee. at 6issc- There was small reaction
from this bad start, and Dec. sold up 10
64alc. but 1t was not long before weakness
again developed. The cables reelected bear
ism sentiments. and Liverpool closed at
A- H., .1axf -.<. Lk.1A ay,6 al fl-
mental markets heard from were lower,
Paris 5zQ9sc, Berlin sc, and Buda-Pesth isc.
Clearances Of -four and wheat were report,
ed at 66600 bu. On the let-down. Sept sold
as low as 6l%c. and had a seller at olssqs.c;
Dec. brought 6iizc, but July was neglected..
The decrease OF l.i0o0o0 blu. in the visible
supply. as compared with decrease OF on
ly $4,000 bu- a year ago. had u good intlu-
ence, and some export business being re-
ported sent Sept. back to &c. Local sales
Tor export were reported at 10000 bu. No.
2 red, Including about $500 bu July deliv-
cry at &c loaded. However. there was not
sufficient hull backing to hold the market
ing At Sisc. which was bid at close, when
Go1sc was bid for July and 6iisc for Dec.
The torrid weather and the fact that
there had been no rains in the corn States,
though there had been a drop in the ther-
mometer. were the chief ruling bull fac
tors yesterday. and speculation and senti-
ment leaned wholly to the bull side. Buy
Ing was lively. and although longs sold free
ly In order to take profits. Ike advance was
paid here the first half hour, Sept. opening
isc higher at 47c and selling up to 473sc,
while having 4iAG:sc paid at one time.
That option finally sold at 47;sc. but i'm
mediately fell back to 47iac on declines at
other markets. The receipts were again
very light and the country so very buliish
that It refused to sell even at present prices.
Gables gave added strength to this market.
Liverpool opening I'd up and closing I'D
higher for the day. The amount afloat
showed decrease Of 200 bu., and the
visible supply Of this country fell Off $4,000
bu. The days export clearances were re-
ported at T6000 blu. The market was very
bullish later and prices made a squirt that
carried Sept. to 47a4Q5sc bid, but on free
selling to take profits the market eased OF
Eh@5tc sellers. No attention was paid to
tho July option during the late hours. d ]
IL closed nominal at 46i&c buyers.
the local market responded freely to adj
VICES OF dry weather and damaged crops in
tue Southwest, and another large advance
went or record. The speculative demand
Nas strong. and Sept. opened nc UP at
SIC, but was soon selling at S1sc while
July was &c higher at 32c, and 33lxc was
paid Tor May: Small receipts and a strong
ana largely higher cash market were bull
ish factors. as was the decrease of L5S2 900
bu. In the visible, as against an increase a
year ago Of 10000 bu. The buying con-
ttnued. and Sept finally sold at S1ssc May
selling ct e455c. and July having 3211c bid.
All Of the newa received late was bullish
but there was disposition shown to take
pronts on the part Of longs. and the mar
ket Weakened on from top prices. July at
cloce being offered at 32c and May at s4lsc,
while Sept sold and closed at 2155c.