The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-04-27
WHEAT FINISHES STRONG
AFTER DOUBTFUL OPENING.
SUPPLY SMALLER AND EX-
PORT DEMAND INCREASED.
Corn Unsettled, but, on the
Whole, Distinctly BulIish-
Oats Go Higher.

Chicago. April GA largely decreased
visible supply coupled with Il decidedly
increased export demand caused a strong
finish in the wheat pit to-day. The July
delivery Is up 11sc. Corn made a net gain
Of &c. oats &s@ac and provisions 71aq10c.
WHEAT.
In the face of lower cables there wa.
an active general demand for wheat al
the opening to-day. Initial quotations on
July delivery were &c lower to &c higher,
at So to S2aac. The action of a big trader,
whose operations are closely, watched by
the pit crowd, had considerable to do with
the days developments. During the first
Eour there. was good buying credited to
him. a quick advance followed in prices,
the July option making a gain of about
1sc. The market then declined as rapidly
as 1t had risen. The cause of the break
was a wild scramble on the part of early
becoming general that the bull leader had
turned seller. The market received little
support on the way down. On the decline
the price of July dropped to Size. A re-
sumption of purchases by the principal
holder Induced active covering by shorts.
and prices again started upward. During
the last hour Of trading the market was
extremely brllish. the news in general
being decidedly favorable to buyers. One
of the factors in the late situation was
tho showing In the worlds available
btoChS u NuedI us Hiktl Out Wy
streets. The statistics claimed a net in
crease Of $4,000 bu., but the increase
was entirely by European additions a de-
the visible Supply Of wheat for America
east of the Rocky Mountains. Another
influence waH the big export business
transacted in Manitoba wheat Strong
west. were additional bull factors. There
was also a number of crop damage re-
ports. The market closed at the highest
ol~ " 49, dos E~a1 ,Vrn- NJ Iy.fy.
being at saAc. after the price had touched
S1haS1asc. May sold between s6Iac and
s6i4c. and closed at $3.50. C%learances Of
P Shsas sna ref nGpf w we're e2 aS4.ss % b a,'e conn., M:
pared with 1880 blu. a year ago. Minne-
apolis. Duluth and Chicago reported re.
week and 1I2 cars a year ago.
CORN.
Notwithstanding a rather unsettled feel
ing In the corn pit. sentiment or the whole
was bullish. The start was comparatively
land. but on general selling. due to in
creased receipts. better grading and lower
cables. the market became weak: The
early break in wheat had a depressing in
shorts covered freely and the situation
turned strong. the July delivery selling
up FAC In n very short time. Strength in
wheat was the late bull factor. Although
the market did rot maintain all the ad-
vance, the close was strong. July opened
a a lower to a shade higher at 4THc
to 41asc, sold between 4SXc and 48kc and
closed at 4s1,94skc. May closed at 1850.
Local receipts were sos cars. with "a of
contract grade
OATS.
A bullish sentiment pervaded the bats
pit. the market being independently
strong. Shorts We're active buyers
throughout the entire day, and there was
also a good demand from commission
The break in whea and corr
caused 4 slight recession in prices, but
the reaction was only temporary, the de-
mand heing sufficient to bring about q
quick recovery. Weather and unfavorable
advices were the principal bull fac
tors. The market closed strong, with
prices near the top. July opened nc to
sc higher at SC to 3slsc, ranged between
351sc and 36ssc and closed at 363sI3SEc.
Local receipts were 70 cars.
RANGE OF FUTURES.
OpeniDg- Eiuhasf oura.% r1oaJ1~