The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-06-21
WHEAT BULLISHLY ACTIVE
ON BAD WEATHER REPORTS.
RAINS INJURE GRAIN THAT IS
READY FOR CUTTING.
Close Is Higher, in Company With
Corn and Oats-PrOvisions
Independently Strong.

Chicago. June 2O.-Wet weather Influenced
breadth and bullish activity in wheat to-
day. Continuous rains in the standing
wheat and much excitement in the foreign
markets over similar conditions in France
and England put prices up and the general
bulliSh sentiment e~ngendered b. the news
held prices very near the top figures. The
bulls in the corn pit rested. but the wheat
influence was enough to put prices both in
corn and cats on a stronger basis. At the
close July wheat WIS sc hlSner, July corn
lac up, and July oats asuAc advanced.
PROVISIONS showed marNea independent
strength and closed l0u!z12c higher.
Wheat.
From the outset, wheat was bull.sh. Liv-
erpool made good advance, and Paris. in
addition TO yesterday 5 Strength, showed in
creases OF nc to Iiac. Foreign markets
OF short crops III consequence of wet
weather. CarSoeS off coast were in great
cereals and flour. At home. rains fell con-
tnuously and more were predicted general
ly. Advices from Nebraska stated mat tn"
wheat was ripe and awaited cutting, but
that the ground was in such a soaked con-
dItiCn that farmers could rot attempt the
work. Further than this. grain that had
been cut in other States was damp and
would not grade contract. WHAT with this
bullish news and a general Improvement IN
outside business on the Board OF Trade,
shorts considered ii time TO cover. Senti-
ment was bul!!sh and grew more strongly
so every moment with advancing prices.
There was a fair cash demand ana the fu-
ture market showed no soft spots. 1t was
supposed that there was a large long in
terest in July wheat, but If sIch were the
case, not enough of the holdings were I'M
loaded to make any perCeptible change in
the sentiment. Business was more active
in wheat than for 4 long time. July wheat
opened Rp9sc higher at 1850 to I4c, grad
ualiy attained 74.a@sc, and on a little real
izing, eased, but ended with a strong close,
sc up at 744c. Trading was very good In
cars. 2 of contract grade. Minneapolis and
Duluth reported 23 cars, making a total for
the three points of SS cars, against 2i5 last
were $685. zoo bu., compared to AL go bu. last
year. Seaboard clearances in wheat and
-four equaled 1900 bu. Argentine ship
bu. last week. The seaboard reported 10
loads taken for export
Corn.
Corn was strong and higher most Of the
session. but ruled comparatively quiet. The
big bulls were seemingly dormant, awaiting
another opportunity i'll which 10 carry out
their m~anipulative plans. Trade was small
and was done mostly by commission-houseS.
There was a fair demand in the more dis
the July deal Strength of wheat and
the wet weather were the bullish incentives
There was most no selling pressure. While
receipts were Increased at 29 cars. only q
cars graded contract. July sold between
65hc and Csc, and closed firm, &c up at
65l2c.
Oats.
Water in the oats fields was a threatening
danger to bears in the oats pits. and at
once started some Of the more dirtident
shorts to covering. Cash stuff was in good
demand and some OF the better grades sold
to-day as high as 4Sc. There was only a
little scattered selling. and. although trade
was not large on the buying side. the posi-
ton of oats was so strong that July new
again sold at 4Oc. The close was very firm,
July MONO III at $3.50. Receipts We're l61
cars. only 10 of contract grade.