The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-09-18
WHEAT BULLS UTTERLY ROUTED
BY AVALANCHE OF LIQUIDATION
Improved Weather in Northwest
Causes Il Sharp Break of
4 Cents.
REPUBLIC SPECIAL

REPUBLIC SPECIAL
Chicago. Ill. Sept. i5.-Wheat bulls went
down in utter rout and ISnoninous defeat
under an avalanche OF liquidation and
short selling. which broke prices &c for the
day and closed the market fat on the bot
tom
" the advance Of more than Sc scored
in the wild bull turn Of Monday and Tues
day only small fraction OF a cent was
eft at the wind-up OF the week; May
price al the opening 81 49, and sold down
20 Sill. closing a, that price bid. COM
pared with the high point OF 81 lssX bid On
Tuesday and close at S-l"As Did the
week before.
Fine weather IN the Northwest for move
ment increased receipts at Northwest ter
miral markets. for the first day in weeks
exceeding those for the corresponding day
last year. and the psnicky decline in
Northwestern price. under Increased farm
ers deliveries at country stations fur
nished the main motives for the precipita,e
decline here. Those holders who had not
sold out before became discouraged and
every step in the decline seemed TO dis
lodge another block Of long wheat on
stop-loss orders Pyramids were topped
over and then smashing occasionally
broke prices fully a cent within a very
few minutes One such break. from 81. a
to Sl-l3 for May. came early IN the session.
An Intellectual stand was made by some
OF the local bulls at times. but each rally
brought increased offerings. The South
western markets were relatively firm. an!
the local cash market also. prices were &c
to li.c higher. compared with the futures
Of the bulk Of sales. Selling was general
through commission houses and heavy BY
Cudahy- kne.land and others Buying of
Nav by Prfngle around 81 IL and Of Dec.
around S-i1 by LchStern brought about
the hest rally. hu. something radical was
reeded to stop the decline. and nothing of
the sort developed. Northwest receipts of
- .
predictions Of a stIll larger movement
more than counteracted the Influence of
theories as 10 an insuf'iciency OF wheat IN
the country to last the year through.
CORN.
Fine weather over the corn belt. clear
and warmer. the influence Of the weak
ness in wheat and the pressure OF sales of
new corn for arrival here In December a
5izf:sc under Dec price-all worked for
lower prices in corn The declining tend
ers and cooler weather over the entire
belt Sunday and by the sharp shipping de-
msnd which developed ON the break. with
sales of Il. 40 bu. The declines amounted
May, the market closing on a reaction of
i.c from bottom figures.
On the drop Spencer. wrenn and Pringle
bought Premiums on cash corn were sd-
vanced &c by holders. Receipts were "a
cars and ;S5 estimated for Monday Ne
braska advices claim the crop In that
state Practically OUT or DANGER from frost.
and Kansas City messages said three
quarters OF the Kansas crop was safe.
OATS
Oats continued to resist weakness IN
other grains. a good-sized and concen-
traled demand for May developing at 35c
holding the market there at the close al
a net loss Of &c. Cash prices We're steady
to &c lower. Shipping sales. = 90 bu Re-
ceipts I.5 cars and i1e estimated FOR Mon
day.
PROVISIONS.
Provisions felt the grain weakness. the
Jan. product in particular suffering from
sympathetic liquidation. Trade was most
ly changing. with Cudahy a free seller OF
Oct product.