The St. Louis Republic., 1901-02-05
MAY WHEAT LOWER
IN CHICAGO MARKET.
STATISTICS AND RECEIPTS
WERE BEARISH.
Corn and Oats Closed Shade
Higher-Provisions Dull, but
Improved Slightly.
REPUBLIC SPECIAL.

REPUBLIC SPECIAL.
Chicago. ILL.,, Feb IA generous cover
ing of the winter wheat's natural 3rotec-
ton for inclement weather. among mat
ters of a statistical character which were
generally bearish in the extreme. caused
May wheat 10 close S.c lower than IL did
Friday last. Corn and oats were firm. and
each closed 1-lsc higher for May delivery
Provisions also made some gain on last
weeks closing figures.
Wheat.
Worlds shipments of wheat and flour
Ia Europe last week. as reported this MORN
ing. were 7.3i2.600 bu. Liverpool cabled:
Wheat market very depressed by excessive
supplies and the quantity on ocean pas
sage showed for the week an increase of
4.i1o.oOo bu. With news of that kind to
start with. only one course to the direction
of wheat prices was possible. and that was
downward, of course. The market obeyed
the law that usually governs it and opened
about 1c below Fridays closing figures.
Trade was light and surprisingly little long
wheat was for sale beyond the floating
amount In scalpers' hands. In the absence
of evidence that the heaviest longs were
distressed at the unfavorable tenor of the
early market news, the tendency for the
first two hours was toward a slight reduc-
tion of the initial decline. Since Friday
morning OF 90 carloads OF wheat were in
spected into store at Chicago. compared
with 50 the like period of the previous year.
while at Minneapolis and Duluth receipts
since Friday morning numbered Sl cars
as against LOLA from the corresponding
Friday to Monday of the year previous.
A message from Minneapolis said receipts
at that place would continue liberal till
April /. weather permitting. The only re-
deeming feature of the statistical informa-
ton of the day was the large quantity OF
wheat and flour cleared since Friday from
Atlantic ports. amounting as they did TO
the equivalent of 1876 900 bu. but even that
did Captain Phillips. the old-time bear op-
orator, who, on like heavy exports being
brought TO his notice while he was trading.
was wont to remark: MY, won't that make
the fellows the other side s.ckT l.iv-
erpool closed Ssnssd down for futures. ana
I'D for spot wheat. Paris reported gains
in prices for futures of from &c 10 &C Du.,
and Antwerp was unchanged 49,.
The visible supply decreased l.o2toO, bu-,
or about as expected, and that stili leaves
597s1.0c bu.. compared with 54.3s5:Vp ou-
the like day OF the previous year The Eng
lish visible supply decreased l2ol,oO0 bu,
COMPARED with ll2.ooo bu. the corresponaing
markets received a total OF Ll3o.Vo bu, as
against l,0il.000 bu. the corresponding day
same were al. 900 bu.. compared with $4,000
last year. Fluctuations were very marrow
after the opening slump In price and trade
exceedingly light. May wheat sS aI.er ope,,, ~,
75i2c, and afterwards, up to an hour from
the close. kept between the latter figures
and 15i.c.
Corn was afflicted by a similar want OF
animation as was characteristic OF wheat.
but differed from the latter in respect OIL
corn was from 39lsc down to 39c. as com
pared with 39lsc at the close Friday Dur
ing the most part OF the remainder or tne
ssIsc and 3Sh@asc, very little bringing above
3ei4c Local receipts since Friday were oos
ears. The aggregate received in same time
az primary Western markets amounted 10
2OeS 900 bu., as against 2.Hl 900 bu. the like
time of the year before. Atlantic port
clearances for the same time were l.lso.oO
bu. The worlds shipments OF corn TO Eu,
rope last week were 3,0Il.Oo0 bu.. all OF
which but 5sS.0o0 bu. went from United
States ports The quantity on ocean q pas as.
sage decreased sos ,0u0 bu.. leaving 12,SsO.Op
bu.. as against L. .s56. 900 bu. a year ago. The
Domestic visible increased 6ss.OOo bu and
makes the total A.ssl0O bu. as against H.
5S,, 900 bu. the year before.
Business in oats was of the like small
proportions that has been remarked OF
of firmness unusual when trade is sluggish.
The crowd evinces the same unwiihngness
u carry itself freely against the wealthy
long interest that exists as do the rank
and file OF the operators in wheat and corn:
Armour & Co. sold about 10000 bu. and
Counselmap & Co. 10000 bu-. supposed to
be hedges against country purchases. Prfn-
gle and Nash Wright we're buyers Of about
100 600 bu. each. and those comprised about
ali the individual transactions In more tnan
- 900 bu. lots Local receipts were sol cars,
which are the accumulated arrivals since
last Friday morning. The visible supply
decreased $500 buL, and is now 9.s2s.ooo bu..
as against 5,77600O bu. the similar time last
year. Estimate of local receipts for to-
morrow was 30 cars. May oats opened at
from 2514c down to 2o1sc, and. after holding
&c. rose near the end to 25ssIl1c and closed
at 2549Ssc, or 1-l6c above the resting price
Friday.
Provisions ruled firm because Of small To-
cal and Western run OF hogs, although that
was probably to some extent due TO the
heavy snowfall. The local stocks of pro-
visions as made known at the commence
ment Of the month were likewise con-
sidered favorable to the long interest show,
ing as they did ., ,2S6 tierces decrease In lard
and quite moderate increases In pork and
ribs The Fairbank compilation Of stocks
OF lard throughout the world d, was not SO
crease during the month of JAM. but
as the total now Is 1883 tierces, compared
with $500 tierces last year. the effect OF
ceipts numbered 5000. with &c addition re-
ported in their value. The aggregate at
pared with Is 800 the corresponding day last
year. Estimate of to-morrows local run OF
hogs was 1900 Compared with last FRI
days final figures, the closing prices to-day
were TIC higher for pork and lard and 21zc
Up for ribs.
Rye was slightly lower In sympathy with
the heaviness OF wheat. but at the reduction
there was little business carried on. mainly
in the May delivery at 5ei1c. Spot No.
sold at sligo for both T. o. b. and track. and
a choice car of No. (. q. b. brought fec.
Receipts were cars and Withdrawals from
store 1888 bu. of No. quality. Shipments
were $3.50 bu. and exports from New York
nothing. Clearances from the seaboard last
week were 13000 bu. and last year 1900 ou.
Visible supply amounted to 1.195,000 bu., a
decrease of 1900 bu. Local stocks were 6O6.-
0o0 bu.. decrease of 22.000 bu- The market
was still weaker at the close than 1t was
early or 5sc under Fridays final quotations
In bid price. Feb. ended at 4SIzc and March
49l.c nominally. May rested at 507sc Did
and 50l9c sellers.
Range of Futures.
Articles. Opening. Highest Lowest. Close.
wi eat-Feb 49,. - q. a. IN 7szg!s
Hsysh Hsy h.:::::::::::.7s,.s. * s. 7ss5s: 8. s.
cSMIsnFeh Ms7cb -. ..::::: z. ssss s.x IS sS
May .ss@xs sHas e ssSgs
osisyfeo Nav seaoo..............sxst sssas 81 zkas
Pork-Feb ....... 13-s2is 1s.s2h $50 1s.@
H.1O AOo 1900