The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-14
WHEAT WAS IRREGULAR
AND ONE CENT LOWER,
CORN LOST THREE CENTS on
RUMORS OF RAIN.
Chicago Longs Sold Out and the
Country Followed Suit-Oats
Fluctuated Wildly.

REPUBLIC SPECIAL.
Chicago, H.. July 12-Prices in wheat
were irregular and 1c lower
Corn was very erratic and unsettled. On
rumors of rain. local longs sold out. and
there was good selling from the country.
rrices at the close We're 2ssc to SI,c lower
IMAM yesterdays close.
oats were excited. with wild fluctuations.
ABOUT the saline conditions prevailed In oats
as In corn.
slightly lower
Az the start to-day wheat was higher on
uiiiaForable news from the spring wheat
country ard the advance In cash prices
abroad. Shortly after the opening there
was a break of about SC. followed by a rally
OF nc, and at the close the market was
&c TO ic lower Prices We're irregular dur
Ing the entire session. and a very large VOL
ume OF trade was noted The sharp break
IN coarse grains caused the quick reaction,
ana long property came out in large guam
cline.
The foreign news was mostly bullisb. and
T. message from Minneapolis claimed there
was no damage of consequence In the North
west: that hot winds in South Dakota were
IN inc southern part of the State. where
little wheat was raised. The local shipping
demand was more moderate. and sales were
small nan, only ls,@o bu. reported taken.
temperatures in the Northwest were high
yesterday. and Manitoba reported crop dam
aged by heavy rains. Liverpool cables were
"a TO rsd higher for futures and London
showed an advance of "a to /. penny The
worlds shipments Monday are estimated at
100000 bu.. with 100000 bu for Europe and
!. iair decrease 10 expected on passage. Pri-
large. Is4@o bu.. against 422,ss5 bu. last
year: shipments were 1890 bu.. against
1882 bu. last YEAR Local receipts were IA
cars. against 95 last year
The estimated local receiuts for Mon
day are liG ears. Minneapolis and Duluth
got 1879 cars, against 2ii cars in 1900. AT
the seaboard exports of wheat and -four
We're equal to o927s bu.
Spring wheat was quiet and 1c lower, with
nothing doing in shipping business. Winter
Wheat was quiet also and about 1c lower.
NO shipping business was reported.
Corn.
There was very exciting corn market
to-day. particularly IN the first hour of the
session. Fluctuations were most sudden
ing covering a range Of 1lsc and being &c
below to isc above yesterdays close. There
was very heavy liquidation. led by country
sellers and stop-loss orders. which brought
about Il very rapid decline. The final figures
showed Sept. 3ilc lower. Dec. 3G3lsc lower
and May down 25sd2zac
The weather map was as unpromisng as
it has been this week. and high tempera-
lures with no rain were shown. The posi-
bility of rains during the next IS hours ap-
parently caused the longs to lose heart. and
there was rush to sell when rumor came
in of rain in Southern Missouri. The alb
sence of the local short interest made the
decline more rapid. On the weather fore
cast. however there was a temporary bulge
on renewed buying. which brought prices
out OF the gutter for the time being.
Reports from the West ard Southwest
We're decidedly bullish. and Liverpool cables
were steady to 1sc lower. London also
came 1sd4c lower than the close yesterday
The shipping demand was slow and sales
small On the coast. seventeen boatloads
amounted to 306.C00 bu
Corn by sample was unsettled and prices
were irregular: owing to wild fluctuations
OF futures Car lots were in moderate sup
ply and fair demand
Oats.
The situation In oats was very trying
to the bulls. The market has been over
bought on crop-damage reports from the
West. which showed no change at the start.
The sudden break in corn started longs to
let go large quantities of oats. and stop
loss orders soon ad6edifo the decline.
1t was hard to execute stop orders on the
decline and equally difficult to buy on the
break rally of 2I.c followed the rapid
decline. but IL did not hold and at the close.
prices showed Il net loss OF lssc to INC for
the day. On the decline there was good
buying from outsiders and a big comnlis-
sion-house business way transacted
Reports of showers in Southern Iowa in
creased the uneasiness of holders, who
lidrtdated freely. causing the decline The
cash business was lisht. hut at the seaboard
about 4S.Oo bu. were taken. Clearances
amounted To $1,000 bu. The local receipts
were luS cars. and los are estimated for Nom
day.
Oats by sample We're unsettled and nc to
li=c lower. Offerings We're small and demand
gooc.
barley.
Prices Were Il little better than nominal
to-day. The demand was small and no good
mating barley was offered Inquiry from
mahsters wa. was practically nothing. Only 1
to Gle: Get. s3c: dirty screenings 3Sc bid;
common i3c; fair to good 47a5Oc: low-grade
to common 41g45c.
Prices showed decline of 21.c from the
top figure Of yesterday as a reason for the
break In grains and il desire to realize by
holders. There was shipping business
ana leash cash trade was very quiet. but trading
ances were reported from the seaboard and
no withdrawals taken from store here. No
In store SlaSl1se: No. isa5oc: July size
FIaxseed.
Very little was done In the fax market
Today. There Is still wide difference i'm
prices between new and old crop seeds. and
tie stock In sight. Sept. sold at 81 IS and
closed at 81. 5s asked and $1.53 bid: Oct.
81. ISL asked; No: N.ss: rejected si.ss:
Duluth received Il cars and Minneapolis
got 9. Chicago receipts were 5 cars. and
none was taken out >'o
Timothy and Glover Seeds.
Timothy was lower than Yesterday with
less buying orders on the market. There
were some selling orders. which probably
caused the lower tendency in the market.
Sept. sold at 81. So Oct. $40 bid, 81. Is asked:
contract old 10: country lots. poor to
choice. S.ooM4.15 fair to good 81 +lI,4 70.
common rough seed s.. 10d4.3
Clover remains Lominally UNCHANGED
There was no cash seed on the market and
futures We're neglected. Poor to choice cash
seed Sf1Ig. %: fair to good & 5D,iS N. 60,