The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-05-09
BUYERS DAY FOR GRAIN;
PRICES HIGHER ALL ROUND,
WEATHER SEASONABLE, BUT
RECEIPTS LIMITED,
Corn Strong and Leading Bull
House Is Credited With Hold
ing Many Advantages.

Chicago. May Sit was buyers day In
the grain markets to-day. There was much
hesitation early on weather conditions, but
the situation did not warrant fresh pres
sure, cash business was good and prices
T'a1e good advances. July wheat closed
81 &c up; July corH 5sG4c higher. and
July cats &c advanced. Provisions closed
l3-zc 10 SOC higher
Wheat.
Bears. who had been hammering wheat
Prices on favorable weather conditions.
found too many bull factors arrayed
against them to-day. The weather was
good over nearly a. the wheat belt. and
statistical journals issued bearishly favor
able crop news, but receipts were very
small, and the cash situation was very
strong. Gables also were comparatively
hrm when the depression was taken into
Consideration. After an early see-saw in
prices. bulls took hold firmly and worked
advances. The cash situation has gradual
" developed a strength that, the traders
say, probably will influence speculation for
some time; Elevators have all the wheat
m sight. the country is offering little, and
me elevator people have sold much of their
holding at July prices rather than at the
lo"er May prices. The result has been a
sCdrciLy or cash wheat at the recently cur
rent May figure. To-day May prices in
outside markets advanced above July, and
al one time here almost equaled them.
added to this was a good corn strength.
GOOD cash sales We're made late YESTERDAY.
Il loads being taken for export here.
Shorts. covered freely. and July. which
opened 1sdtc to h14sc up at 1850 to 74Iac,
sold up 10 iihsc, and closed firm, 3sIj2c up
at lfssc. Receipts 23 cars. no contract; Min
neapolis and Duluth reported 1O1 cars, a to-
tai for the three points of 12i. against 253
last week, and 30 a year ago. Primary
receipts were 1909 bu., compared to $50
cars last year. Seaboard clearances equalel
$4,000 bu.
Corn ruled strongest of the grains to-
day and made good advances. Yesterdays
slump was not responded TO by the foreign
markets. and. although all outside news on
the crop situation was extremely bearish.
everything else in the situation favored the
buIlS. There is little old corn outstanding.
receipts continue small. and the leading
Dull house Is credited with holding twice
as much long corn as there is old stuff Wis
fble. After hesitating for a time at the
opening 'tailerS" again took the builish
view of the market and bought literally,
shorts covered, and then the bull leaders
sent prices up further by taking in stuff in
good quantities. Traders generally regard
the position of the bull party as such that
at any open buying by it the crowd quickly
follows. July early sold as low as 6O1ac, ad-
vanced to 6l4c, and after some liouidation
for profits closed firm, SqAc up at 61A1$sc.
Receipts 1876 cars.
Oats showed strength and activity Of
their own. The early market was weak on
favorable crop reports, but open buying of
July by the prominent bull operator in May
options. started a good advance. The cash
demand also was much improved and Offer
advanced to 36asc. and closed firm. &c up
at 36lsc. ReCeiptS l&5 cars.