The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-08-16
ALl-AR0UND BREAK
IN SPECULATIVE GRAINS.
HEAVY SELLING BREAKS
WHEAT AND CORN MARKET.
No Foreign Buying and News and
Conditions Generally Bearish
Oats Weak and Lower.

cert that compared with other speculative
markets of the country, st. Louis was In
much the best position. Still 1t was a bear
day, and most Of the time the drift Of prices
was toward a lower level. The news re-
eeiyed early. and the conditions prevailing
were, with hardly an exception favorable
TO the selling side and this was the favorite.
The foreign news. which was one OF the
principal factors, was very Disappointing as
a whole, and not of a character to encour-
age buying. the initial cable from Liverpool
reporting a decline over night of Id All
domestic markets and especially those in
the Northwest, were weak and bearishiy
inclined. the fine harvest weather influence
ing the latter. Then there was a bearish
estimate by the Cincinnati Price Current to
the effect that America could well spare
.0c, o COO blu. for export from the l%c-year
crop. The only bull influence was in the re-
ceipts at this point. which were only SI.aN
bu-, or half less than last year. There was
a selling pressure in Dec. right at the out
set. and that option. after opening %alsc
lower at 75c, and selling at 75Iao1sc, de-
clined to 74Ac, but the light receipts checked
the selling in Sept, which opened l3c lower,
at " reacted to 724c and declined TO
71sc- Before there was any recovery from
this bad start Dec. sold down to 7i4c. and
Sept TO 7lnc. the decline being due 10 sell
ing b. both long and short interest All
domestic markets reported selling, particu-
larly Chicago, where longs and Foreigners
markets were bear factors,
as were late Liverpool cables. which re-
for Sept. and Sd for Dec. The weakness
and selling pressure continued until the ex-
port clearances were made public, which
were SO large. being l.3zS.0 bu, that they
acted as a bracer. and SO stimulated buy
ing that there was a r~eactionary tendency
developed. the selling let up, and Sept ad-
was little or no bull enthusiasm during the
latter part of the day, and prices weakened
on materially. the selling pressure still be-
ing on No foreign demand was reported.
except at lower prices, and the market con-
tinued to show signs of distress. prices break
ing almost uninterruptedly until the close.
decline for the day. at 7stsc. and of Sept. at
lac of. at O3sc, with no buyers at these
ngures. and no sales that low.
The bears had things pretty much their
own way yesterday morning in the local
corn market. and succeeded without much
values. from which the market was never
able to recover. Conditions were not at all
favorable for a bull market. Rains were
reported in Indiana and Ohio, where dry
weather has prevailed of late to such an
extent as to injure the crop. Improved crop
conditions were received from the West;
and the Cincinnati Price Current estimated
tho yield at l.40J.eO blu. These conditions
impressed longs and they at once COM
menCcQ 10 let 20 their nOl0lngS, and, being
Joined by shorts. who had recovered their
courage. there was a sharp break in prices
right at the outset. Dec. opened &c off at
s sisse.. 7 The OPENING ap Siagi for sept t Mas Or seok fowe eG
at 6o%c. and that option sold down to 6oAsc.
while May sold at 6i4c to 637sc. Up to the
unsettled. but the rally in wheat had a good
effect and Dec. which had sold down to
-sltc. sold up to Sli.c. and for Sept. 6g4c
was paid. May being offered at 63s.c. but
selling at s37.c later. Receipts and ship
ments at primary markets were small. and
the clearances were only U.a0 bu.. making
56S.0 900 bu. for the week, against 1G3 900 bu.
last week. Liverpool was OF and closed q
GlAd lower. and London was down I'D.
An attempt late in the session to market
long corn. said to be for a leading bull
house. resulted in a sharp break. on which
Dec. sold at 6oSc. and that option closed
The day lasc lower at that nat Sept closed Iiac
was 1isc lower at 631ac.
Following the example OF the other grains.
oats yesterday were weaker and very dull.
no trading being INDUCED in during the
early hours. when May was offered &c
lower, at 404c- Later there was some trad
ing. but it was at the expense Of values.
May was of sc. with saies at i0L.c. down
10 4oc. Sept. sold at 3lhc. against spot pur-
better, and switched to the house. Subse-
auenriy May rallied to fkc. but again
weakened to nd closed Ac off for the day
with sales at $3.50
Traders Gossip.
The crop report issued by the burlington road
for the week SAYS: Rainfall along the lines in
N Sss sFssen has sn se e2nc asSns aag /, s, viii d. The NO e. enr as
good. They concede. however. that IL came tco
none 90 o. h sha, e erap f sao market asas tnf from v Nebras na'c rs
year. All that will be raised viii be fed
crop aPh POSITION S,nS,nh has b been 6 furtser f Covered ths and spra n
100 900 eoo-bu, crop Is now indicated; .ls.o oo
export" The weeks packing Of hogs in the
West was 4O2. oW head against $40. 600 head last
The Manitoba wheat crop is estimated at 81
10000 b1. tine largest on record. 1t is stated
and railroads are making special rates for farm
hands from the East.
and wheat are for $500. 900 to 10. 900. oo bu.. where
they were s.sOc.ee blu. last week and 100000 bu.
1t looks very much like another decrease in
the wheat visible. A year ago it Increased l.
Wheat receipts at primary points were SIS. 900
bu-. against $500, bu. one week ago. $4,000 bu.
Louis received SEQ bu.. against l4s. 200 bu. a
week ago and ltloes bu: a year ago. Primary
Corn receipts at primary points $4,000 bu.
against 600 b9; a year age, $50 bu; arriving
mary m Iss.OOo blu.
Oats receipts at primary points 5000 eu..
at St Louis. against 81. 900 bu. last year. Pri-
mary shipments $4,000 bu.
-Prcsident of Cotton Growers Association,
ate, TRIP to Texas; says crop IN that state viii
age. In explanation of large receipts all spring
and summer. he says IL Is due to large amount
put into warehouses last winter all over South.
Cash Grain. Flour, Etc.
5.2zl SKIS. and
3 cars local and . cars through; lower. bu'
. poft winter in such scanty Offering that IL was
strong and quick sales to city millers. who freely
paid sc u%u2c premium over Sept.D for No. T.
red and as high as .3<c this and .3isc E. side.
bu, elevator buyers entirely out at the price.
NJ. 3 red Quotable at &c. and No. 4 at 11c. SKID.
in elevator sold at &c for No. 2 red. 7lc for No
3 red and zoe for No. 4 Hard winter was SLOW
sale at nc over Sept. for No. 2. millers taking
a line of Turkey and running to yellow at INC.
No. 3 hard sold at ai1c. At close No. 9 led quo
table at 72d.2xc. and No. 2 hard at nkc.
NC 81 cars local:
easy and slow. the shipping and local eemaadi
very light. Sales delivered were at Gix6Slrc for
40. 3 .slAc for No. 2 and No. 2 yellow, sla9