The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-07-30
GRAIN PRICES GO TUMBLING
UNDER BEARlSH CONTROL.
ALL OPTIONS AFFECTED BY
THE FINE WEATHER.
July Oats. After Losing Five Cents,
Closes Two Cents Higher
Corn Most Depressed.

| CHICAGO. July .9.-BeaTs were IN fun con-
troll Of all grain markets most Of the day.
The tumblinG was not confined only to
breaks IN July. where there had been
I manipulation. The whole grain lIst-wheat.
corn. oats and rye. in al! mJntEs-went low
or under the sm1the-iuS weight OF biz re-
ceiDts and prospects Of immense coarse
crops. In july. where sensational drops
were expected. the bears were sJmeSEat
disappointed. In the other months. how
ever. where prices were considered On !
Tdir COMMERCIAL basis, the drops were sudden
and disastrous 10 the bulls ami quite aston
lsh!nE- Toward the Close = reaction set IN
IN most Sr5iuS. and especially In July oats,
winch had lost -. Ia tie end July wheat
lost only -ic, Sept. ThSdt "a Sc. July corn
f.. Sept. corn &c. and SapJ. oats Sc. July
pats closed - higher and provisions closed
&C 10 80 down.
Corn.
Corn ruled consistently bearIsh in all oo-
tens. Extreme weakness set In almost at
ihe STAR. III LIsiness. Heavy receipts and
me weather were the incentives. Augment
me ines was an almost total absence Of
support. Apparently the Gatss-New York
oGil CLIQUE nave. as they announced. C--
serted tie July deal. for Oh lair offerings
OF this month there was a rapid decline
ana q net less CT ic from last nights close,
with the closing sale 1T sac. TRACE was lot
httNN, nut offerings were so liberal In ud-
dtiqn To- The reports OF exceptionally iarse
cu''rsS grain crops that the corn market al
around Took on a sick ASPECT. Cables
were Indifferent. the cash demand fell on
ana general news OF ether nature favored
the bears. The big short interest IN Sent.
gave almost 10 support. and the gossip was
lHat TINS interest was so powerful that il
was waiting for still further breaks. Sept.
opened sc I" sc down at 5Sc to Sic. ana
ktDt on a constant decline until IL reached
80 OF only l5 ears to lie re-
CeiSel mere tomorrow checked the decline.
anu Sept closed weak. .ilc down nj sc.
Receipts were ISL cars. 81 OK contract grade.
Wheat.
wheat showed much weakness early on
TIE corn slump and lower cables. Receipts
We're LIBERAL. both local and primary and
I9r q time there was m absence OF suDport
tEat threatened a bad break In the leading
~ ~ IisGlcS!ons Were for a record
tlIheht was very bearish. and the local
crowd sold almost 10 a man. The S0UfG-
west. which received a heavy load t,-dsy-
sou Freely Stop orders We're met in
abundance on the decline. but as som as
Inese were exhausted the tone improved.
a.tI"IldI places aided the pit in a fair re-
Late soabcard sales Of a loads aucms,,o5
~ iaHy. July. which Of lat. has hon
ttEy narrow and easily affected. hung NH
7 narrow. opening i-c 90 &c down - -.
o ,S..c; ara after dipping to use. closing
opened iSqiI to I.r=.c dow a, 80
80: sol! down to 7Oc. and closed I.arsc
iTbH y I"tnsr weak. nj DNc. Business was
tsoSrai- me fine weather was a bea-ish
factor. Local receipts were 20 cers % =.
Gon.ract grade: Minneapolis and Duluth re-
poLt-i 10 cars. making Il total for re
y yngSs POINTS Of 7N cars. against az last
6nces In wheat and -four e1ialed ISi ,,S ~,
ramlTy receipts were I.ila.oo bu'. arafnst
I-4%."V bu. last year. ~
Oats.
JuiE oats afforded the spectacular side OF
she o!ackOoard story OF the ira linz 10
udy. ON a little selling. stimulated nv the
very feaVy receipts. July hroFe earIy 70 -
or a loss OF Sc from yesterday 5 clos WSsr
M ieclinc In the other grain nits was
JInsShen: BIDS fer several 'fives" OF new
july put the price up quickly 10 n strong
CioSe. C higher. at Oc. The trade wes sill
at sea as 10 the possibilities OF The MANN
ulation in this option. At the ouisat Z,
MaS expected that the S5 cars 81 new ar
rivals TO-DAY. with Il. cars ccntrlct rrads
Smu 3Lher contract stun to total 10000 bu.
InlnS pointed TO n delJiCc OF 0ats tbis ysaI
win Only two days more TO the July deal
u was all SuesswOTk whether tho shorts IA
sstg ~ or would have enough contracts set
Iltd 10 avoid a bad squeeze. MIN a.
prices reacted ana advanced IN vas ,ba,sh,
me maj squeeze was at hand. Sent. was
500 freely on fine weather. ami drornad
rom "-3ec 10 5lsc. and closed sac down.