The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-08-03
GRAIN SPECULATION TAKES
STRONG UPWARD RALLY.
SCARCITY OF CONTRACT
GRAINS 4 CAUSE.
Wheat Receipts Better Than Last
Year, but Cash Demand
Is Excellent.

Chicago. Aug. All speculative markets
on the Board of Trade closed the week
with a strong rally. a tone much better
than had existed for weeks made itself
manifest in a healthy, active trade in most
OF the grains, and, although the countryside
was not heavily in the market, there was
promise for much better business with the
bugaboo of the July corners laid at rest.
scarcity of contract grains for immediate
marketing-wheat. corn and oats-made the
shorts feel uneasy all session and although
receipts in wheat still exceed those of last
year. the excellent cash demand, especially
FOR corn and oats, brought higher closing
prices all around. AT the end Sept. wheat
gained SsG~4c. Sept. corn l1lisc and Sept.
oats sE",4c. Sept provisions closed 15c to
2712c higher.
Wheat.
Bearish conditions were arrayed against
wheat prices at the opening of trade. Re
ceipts locally were one-ifth more than wera
expected. the weather was excellent and
erpool had a holiday. but London and Paris
We're firm, and September Showed only q
slight easiness on first sales. Contract ar
rivals were almost MI, 1 cars to-day out Of
3I cars received. This started much COM
ment and gossip, which had a trend toward
curtai!ed receipts soon. nov that the rush of
new wheat to market was supposed to be
over. and caused d Scurry among shorts 10
cover. New York and leading bull interests
were buying September freely and in con
sequence good advances we're made quickly.
Liquidation at these prices brought slight
dips, but the local sentiment was 50 bullsh
that the close was Strong. Much of the
strength came from the absence of free
offerings. No. l Northern cash wheat also
was selling &c over September prices. The
near options were bought more literally
than December and dvanced over the win
ter month &c yesterday TO l&sc at the close.
September opened lsc lower 10 lsc higher at
$3.50 TO 70lsc, sold TO T05sc and closed strong
sU$lC up at IO2su IOA4c. Minneapolis and
Duluth reported l2 cars. a total for the
three northwestern points of 459 cars,
against i61 last week and 4I6 a year ago.
Sedboard clearances in wheat and -four
100000 bu-, compared 10 $50 % bu. last year.
Corn.
Corn receipts amounted to only IS cars, .
cefpts as this market has had for the last
week and with still smaller estimates for
next week. there was naturally very little
stuff offered in the pit. Private elevators
turned Out nothing. Inc cash demand was
excellent and in addition the Fasteners
who expected to be flooded by the outpCuT-
ing of cash corn that was brought to mar
ket by the July corner. found their stocks
50 depicted that they had To increase bids
huliish factor was the buying by the
houses recently heavily inte:es-ei in JUly
oats, There was no selling. save near
top figures. for profits. and tn result Was Il
s.Iong and steady advance. Sep. sid from
3ji2c 70 5Sc and closed strong. Is up 1T
JE4IJ.;sc. ,
Oats We're n excellent demand and The pit 3
ruled firm and active. The dTnn2-S in ON
q S-i.ins and the premium OF II tor some
cash grades over sept. options. with a good
n Oh f-rrfvE- r4r lfrv~ay 49,,