The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-11-30
Excellent Weather and Other
Grains Weakness Affects
Tone in Corn.
BY ASSOCIATED PRESS.

BY ASSOCIATED PRESS.
Chicago. Nov. 29.-Heavy movement of
grain in the Northwest was one OF the
leading factors in Il weak wheat market
here to-day. At the close Dec. wheat was
off precisely &c. May is down &c. Corn is
off 1z1Sc. Oats and provisions are prac-
ticaily unchanged.
Influenced by early firmness in the Liv-
erpool wheat market, said to be due TO re-
ports of unsettled weather in Argentina.
the wheat market here opened firm. Dec.
was up &c at SLOTS and May ls4Ac to ga
&c at s1.c9i2 to s1.093.. From the start.
however. there was free selling by COM
mission-houses with Northwest connections.
Pit traders were inclined to follow. a pri-
vate dispatch denying unfavorable wealth
er in Argentina caused some weakness.
Initial quotations marked the high point
Tor the day. prices gradually Teceding as
trading progressed. One of the principal
elements in the situation was the ac-
west.
y report from Minneapolis stated hat
stocks Of wheat have increased over go
90 blu. during the past three days. Cash
markets at Minneapolis were extremely
weak. In this connection considerable Gig
mhcance was attached 70 a rumor that,
wv ing 10 Door CtIlaIu LOT UOuT. all UOUT
mills at Minneapolis and Milwaukee were
likely to close down..
In addition 10 the bcarish situation in
the Northwest. a local statistician's sum-
mary of winter wheat conditions was a
hard blow to bulls. who have been trying
to create alarm out of the drought In the
Southwest. The summary not only claimed
the situation to be good in most localities.
but predicted that with a fair snow pro-
lection the dry autumn will help the crop.
inasmuch as the lack of moisture has
forced extra root growth.
Some crop damage news came in during
the day. but apparently had little stimu-
lating effect. At s1.OSII Dee. reached the
low point of the day. Meantime May de-
ciined TO Si.1sh. The market closed weak.
with Dec. at s1.csss. Final figures on May
were si.OSa.01.tSts. C~lcarances Of wheat
anI -four were equal to 10i. so bu. The
worlds visible supply as shown by Brad
streets. increased 1900 coo bu.
Primary receipts were 1.165. 30 bu., COM
pared with 1.S2l go bill. a year ago. Min
%neapolis, Duluth and Chicago reported re-
ceipts of SO cars. against 1.227 cars last
week and $50 cars a year ago.
CORN.
Excellent weather and weakness of
wheat were the main factors contributing
to n rather weak tone in corn. At the
start cash and receiving houses were lib
best buyers. AS the session advanced
some liquidation of Dec. developed. but
small receipts for tomorrow
held sellers in check. The market closed
near the lowest point OF the day. Dec.
opened n shade lower. at 4s7sc. sold of to
SIC. and closed at 4Snsc. May ranged be-
tween Sac and 45Bc. and closed at 45lac.
Local receipts We're 40 cars. with 2 of
contract grade.
OATS.
The feature of trading in oats was
changing from Dec. to May by elevator
interests. A premium of 2Ac on May was
the prevailing basis of exchange. In view
Of the weakness of wheat the market held
remarkably steydy. Dec. opened a shade
higher. at 2eis0 G1tc. sold between &c and
2eLc. and closed at 2bc. May closed with
a loss of &c. at 31kd31asc. Local receipts
were 12i cars.