The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-03
CROP DAMAGE IN
FRANCE ADVANCES WHEAT.
WHEAT ADVANCES SHARPLY
ON FRENCH ADVICES.
All Grain Started on Badly, but
improved Very Much During
Last Half of Session.


ly true OF the coarse cereals. the bull con-
tingent having the upper hand and entirely /
the best Of It right up to the close. which |
was At or near tho best prices of the day. ,
The supremacy In corn went without ,
question. and the undercurrent OF weakness
witnessed 1t the outset was wiped out In |
short order. all the markets reacting sharp !
". An old-time excited set OF markets WAS i
had and tho pit on change was very .
lively place during the last half Of the ses- !
sion. the trading being brisk and dealings !
heavy. Weather and crop conditions were !
again the ruling influences. and especially I.
potent during the closing hour. when the |
best prices OF the day were registered. All
grains made excellent records. and wheat |
closed with An improvement Of ssc to 1ac
corn showing a gain of NC to a87sc. while
oats were bettered l.c to &c.
Wheat the first part OF the session did
not hold out much encouragement TO the
bulls. which was practically without any
bull backing at that time. the conditions
belng undeniably bearish even corn failing
to AFFORD needed help. Liverpool cables
were beaf1sh early, that market being
quoted Nd lower, though I'D of that was
recovered later. Receipts at this point,
which have been steadily increasing for
several days. were large, and conditions in
the Northwest were reported as being more
settled. These influenced selling. and par
ticdiarly by commission houses against
wheat to arrive The initial trades in the
Sept. option were at 1-16c decline at e3isc,
from which there was reaction to
6sh0Mc, but the selling pressure was too
great and that option quickly broke TO
enc. July sold at 6aa62lsc Off to 61Isc.
Then came a strong bull influence in
the shape OF a confirmation of shortage of
the French crop and a statement that that
country would require a large quantity of
wheat from other countries to make up for
this shortage. Later it was reported tina:
France was already buying on this side.
The Paris market was up 1QllAc. which was
believed to be strong proof that something
were local traders of this that they at once
started to buying with such right good VIII
that prices commenced to climb upward.
and n . short time Sept; had advanced 10
ssx0kc and July to 6aAc. Dec. in the
meanwhile selling at 651sc to 6o7sc- Export
clearances for the day were only $4,000 bu.
Buda-Pesth was that much better. Another
help to the market at this time was the
large decrease in the worlds visible re-
day the wheat situation was strong, the
bear1sh feeling had about disappeared. and
2 majority Of traders had switched over to
the bull ode. the French crop report being
the chief factor In bringing this about.
There were reports Of - loads having been
worked for export. but only $500 Blu. being
innuence and had a good effect upon the
market. enabling traders to hold it up
stiffy 70 the close: Sept. was very strong
sellers: July closed At S2!ac buyers and
A strong bull market was experienced In
corn at this point. but, like wheat, this was
not developed until late in the day. The
hrst half OF the session the market expert
n nYNa ND
bad for the bulls. Weather conditions were
unsettled. rains had fallen in certain sec
tio nrs :r nd, conditions were favorable for
the nrst trades in Sept were at ss@Ac
loss since the day before at 841sc, but. as
DSy.nS vas e .i free at that price the market
Hs Country acceptances were said to be
we're again small clearances were small.
also. At 10.O00 bu. and Liverpool was off
10 Late advices stated that the rains
we're scattered, and It was doubtful If they
much oG pes,s much 5Sod The buying
4sA0xc and July to 42hc. During the bal
ence OF the session the market was very
essone, ana there was complete recovery
rom the earlier weakness and depression
Inc ouying became quite urgent and Sept
advanced steadily TO 46c and closed with
that sellers. July then was nominaliy <S,sc
The early decline in corn and wheat had
2 eed enect upon the local oats situation
s snH oro1ent M! about decline of Ac, Sept
the GOOD example set by other grains, Il
turned strong and advanced. Sept having
soia 'l ~ M sne al. Close July during the day
e0so q 70 ana 800 was bid for May
TrsAers' Gossip.
~ he crop outlook was considered iair in
ana ses1. dsous q dam dam
sss I9: aa uG ana osoob
s Sn 81 and their esOps expected to Yield ~
but could not improve np ha se ia's n
Ensss though expected rye would show some
The HUI 1Sa n whsa. crops
S1sctea 70 yield so6eOeo bu. less than last yeas
S,ssssess e sD,nicn On srgp outlook, Some cor
e :: h.. ss crop pa y,S ara he
SSs sh S ;sy the R.ysr p..s iaI
corn TIN sntiepstea he RIVER Plat. asd srpl 9re
Pise ~ saIpi1s & United states Win not +;
e s .sSs for the United Kingdom and Continent
=ereonhan e.ble.: Cheap and large. c t. {.
o &C lever Later in the session the make. re- re-
e: q : e e s'eas ssai se''a BY the after
0ep tepo3 Y lot yield OF 1f7. $4,000 bu.. and
IN SsSS g. s1gsz ssoossay not over Ao00.Oe0 bu.
a eaASe was received reporting prospect Of
-: - - s:ss an sverige. or ssea. a..
IN = sn4s4sood that the barge line rate o.
g. .n 8 .9a.r 81 hi! .s ~ss to New
VM ealy b toe the Fourth.
--NeW xo9k wired that Powers, Son a Co n
- esn!s estimated that France would re
e Qn1 na!est for nour and Minneapolis reports
0dyleg1 - 6sGt sellers OF wheat in that market
me Paris agent q Broomhall wires that the
oeeEms dat ~ crop prospects have been treaty
sso.csd. Ths mlnlmum estimate 10 for 40 900.
- b.. With Q maximum estimate Of 300 O0o oc
81 z &c ks :sSR s. ssFSSa a ias;
- wAsse the regular visible decreased 2. no.
e ss .e :. q aSs 90 for e. and I.
LILO vsl6is decreased 1soeGS 6u. against
oIW - incfsass . year ago. The corn avail.
sss, IL S'G S1 Sss.sssea YEA 90 soa
1I2W r. 1scssass last week N the resulai
$3.50 16s ayailable supply Of oats Increased
1S0 p. egainst I0.ooo bu. increase In the
n 0evNnmsnt weekly report says cottor
g - 1, saiH n central portion 81 belt
- esess.iE b nsed OF rain. General i'm
yont tDGoAteo In eaStarn part Of belt
OseA "a South Carolina stin unpromislng
.-RnaeY ssesapts Of wheat were $4,000 blu.
49, ~ By: week ago; ss2 600 bu. .
tsl1ay 0ipmsnts were ST.OOo bu.