The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-04-15
CORN JUMPS TWO CENTS IN
WILD SCRAMBLE OF SHORTS.
CLOSES 3-4C Up AFTER Tt
MULTUOTS SESSION.
Wheat Starts Up in Sympathy. but
Loses Strength Quickly and
Is Lower at the End.

Chicago. April 14-Speculators In grain
had a feverish time Of it to-day. Corn
shorts were badly scared over the continued
bulges in the Southwest markets, and,
fearing possible manipulation of the mar
ket by bulls in its present peculiar condl-
tion, bid prices up &c. Wheat had an early
bearish tendency, but had to follow the
corn lead and jumped 1c. All pits showed
marked activity and prices hHctuated en-
radically. After the early excitement con-
ditions became somewhat normal, and May
wheat closed a.c lower, May corn sc ftgh-
er and May oats I:c up. Provisions closed
Il shade lower TO &C higher.
Corn.
Shorts In the corn pit were the cause Of
the paniCky actions in grains. AT the start
there was an inclination to sell stun De-
cause of the easy feeling in wheat. 1t look
only a few spurts OF the st. Louis market
however, TO create q strong demand by the
unfortunate early sellers. The naturally
bullish situation in the corn trade, with
continued reports Of depletonS OF STOCKS
at all prominent csnters ana an imEIeVlnS
demand. scared the shorts badly. The ru-
NOR that was started in March or Il posi-
BILE corner was renewed again, and a hot
start resulted. Great buying force was, I'M
der the cereal and prices were rushso Up
&c almost before the market was well UNI
der way. May opened isc higher to lsc
lower, at 6lAc to 6l4sc. and jumped to 62icc.
This was an advance OF about DC over
the low point on the decline Of a week or
ten days ago. and OF almost &c since Satur-
day. offerings were not enough 10 supply
TIT demand. Everybody in the pit was ner-
Vrua Trade was guesswork all around. Al
ter the early excitement there was coESid-
cradle selling by people VINO thought corn
had all the twist needed for The present.
Business quieted down, and as wheat react
ed from its sympathetic higher prices corn
eased up. Liquidation at top prices brought
good profits. There was a good demand for
he ca sh article which together With strong
cables. helped In putting a bulllsh fnterpre--
tation on every bit OF news. Traders in all
pits were talking of the remarkable outlook
for speculation. and manipulation IN corn.
News continues 10 arrive of farmers feed
Ing corn to stock because advanced prices
in cattle and hogs makes good prof1ts. May
corn at Southwestern markets Is lc to 1Lsc
over Chicago prices. The visible supply de-
creased 1,c0O.0o bu--now 1.5O9,00j bu., against
ers say. must have Chicago corn, and there
IS iiitle OF that. After high prices May
corn sod eff 10 6lsc. but rallied again and
closed strong &C up. at 6et.c. Receipts were
only 30 cars.
Wheat started out with a sickly aspect
on unresponsive cables. and rains in the
SOUTHWESTERN wheat country; May opened
ielt the influence of the soaring corn mar
ket. In a very short time covering and an
investment demand sent May TO 1850. As
corn began its decline after the opening
bulge. wheat eased of. Then a big line was
sold for a leading bull professional, and as
the "tailers" filed in TO sell, the market
slumped off below Saturdays close. The
Southwest sold here. and those markets
were lower. Commission houses were on
both sides of the market, but principally
sold. Liquidation for profits was very pop
ular. The Visible decrease OF 100000 bu.
was a nttlel more than expected. but had
no effect. Trade was active. May closed
weak at its lowest point. ac OFF at 722s.
Local receipts were % cars, two OF contract
grade; Minneapolis and Duluth reported 1872.
making a total for the three points of POS
cars, against 87 last week and 400 a year
ago. Primary receipts were 30s, 900 bu..
against $4,000 bu. last year. Seaboard clear
ances in wheat and flour equaled 21 900 bu.
The British budget. presented to-day. i'm
posing an import duty equal to about Sc n
hu. on wheat and an equivalent duty on
flour, was a weakening influence. Worlds
shipments were s.062, 900 bu.. compared to
l0.165.0N bu. last year. On passage bread
stuffs decreased $4,000 bu.
Trade In oats was fair and on the corn
influence prices advanced. May and July
were bought literally by receivers and COM
missionAhouses Gserings were s61all. The
crowd Usually in oats devoted much of its
time TO corn. The prospects of more llb-
eral receipts caused some selling. May
started unchanged to isc up at 42c to 43sc.
sold to Ic and closed l4c up at 42i3c. Re-
ceipts were Isl cars.