The St. Louis Republic., 1904-09-20
SHARP BREAk IN WHEAT RESULTS
FROM LIBERAL COUNTRY OFFERINGS
Better Thrashing Returns Assist
in Beating Prices Down
l->c 10 | &c.


REPTILE SPECIAL.
Chicago. Sept la-Satur,isys heavy
liquidation and short selling put wheat in
position for a rally AT the opening 10
day under the stimulus -, reports - snov.
and rain in the Canadian NoTth~e-r. and
cables claiming France was buying waIIl
Waiia and Australian csrgoes But the
advance brought new press,!r. from
shorts. the Northwest again sent IL. r.
ports OF more liberal country c~cringz
ana better ;hra siling returns and !. -4v-
age break o. about Sc from top prices
Hss the result. with the eio-s Al he,
losses Of l'sc for May and Dec. and I,-e
for sept
~ the outset there Has good buying
by local professionals and III. NJ v,S
quickly rushed W 70 81. i.-.il .Is1-. after
several nervous hack-sts and r4f!fes GA
the extreme advance. hOveye- there p5ss
renewed pressure from N6rth-sst.-n
houses. from brokers supposed 10 he act
Ing FOR Armour and Peayy and r4rly bI,y-
ef. FOUND n necessary or advisable 20
sell With the volume OF otits.ti. bJ,yi,tc
small the market would not take t1urL
wheat: and the decline vas faster thar:
Northwestern markets weakened before
thiS one there Were claims OF large or
ferings from irSt hands and tho lrsp.r-
tlon az the -wo points showed g! cars.
against ~ cars last year. The Min
h.1po.is inspection was good. showing -
cars OF No Northern and i51 ears OF No
:. cut OF .ue cars. aad their cash shove.
marked Weakness. MINNEAPOLIS off II-c ANA
puirth f.c The Southwest movement
Keeps liberal in spite Of r-ceu; rer-.s-.-r
claims II would decrease
An aGditiorsI factor in the reaction from
tcp prices was the unusual quota ~
,nfs-h.ns N ,s returns ranging from eighteen
points IN tho Dakoras nbe-. small ,-tar5s
were expected Tn. best buyiry early "a :
ny Love. Rankin. Champlin and Wa.
On tne advance there was h-avy selling
Frazier and brokers who Usually act .o-
Feavy and Armour
CORN.
Private estimates or the corn --op.
showing reductions OF 3,1.C.o0,S to a5te1a. .
"e bu. from the figures suggested b. the
Government report and Predictions o. r-os-
IN Nebraska. started corn o,.f on /, bs,il
tack Advances of lc were recorded. but
longs evidently IooH adyantsc. Of tse
swell 70 soil. and under hesyv uressIIr.
from the houses long for Wall street the
market lost ito early gains. and little
more. co:ins i.c 10 &c lower. Dec the
weakest. The reports on which tn. carly
ouyirS VAS based came from Jones 40:
lnElis. the former placing the crnp az
l:sp."S"o bu- and the latter AT ..o5a-
90 bu.
The trade generally believed these ez.i-
mates too low. but. nevertheless. bought
sariy on ;ne effect IL was thO-Eht they
would have on prices. The cash rrarks.
vas &c To ic higher. shiuDi1z Saics only
-''...e bu. Receipts were 80 cars ard sss
aye estimated There was eariy btIying hy
cudshy. Wrenn. and Armour brokers ami
by Valentine fn rers,n. Elevator interests
and Southwestern houses sold on the a.
vance. and Armour was supposed TO -
selling through commission houses
Oats. which had previously rebourisd
every time they struck sc FOR MAY 70
peated that action the fore part ~ rhe
session. bu; when an increase in tho visi-
bic supply of -.3i7oI9 hu. 7as posted .hr
market broke &c under That price and
closed Practically at the bottom. Atii
tional hsarish factors acre the SOW sin D.
ping demand and the expectation - z
heavy increase in Local contract stocks
The cash market was steady. shipping
sales only 25.,o hu-
PROVISIONS.
Buying of Oct. ribs by Armour vas
largely responsible for a strong provision
list. There also was less liquidation ;tsu
last week. and healthy cash situation
was SeculiEciy being reflected hv n;r-
chasss Of nearby products by shippers Net
gains ranged from &c in oct. ribs down to
-izc in Jan. product