The St. Louis Republic., 1904-09-27
Wheat Declines 3 SC TO 3 5Sc on
Heavy Receipts From North
west and Southwest.

EEPCBi!c sPDTAL.
Chicago. IL. Sept 3-THere vas Blue
Monday In the wheat market. with heavy
realizing sales early. enforced licuids-
tio1- when the decline 20; well under
Say. and final price losses OF 3lsc TO 81
a3.sc.
The Fact that there had been an ad-
vance OF more than &c the las, three ses-
-'ons last week made the market unusual
iy sensitive 20 bear news. and a suffcica;
selling motive VAS furnished by heavy re-
ceipts both IN the Northwest and South
west and an increase OF more than 1900
Scl.o-c bu. IN the visible supply. May sold
of to S!-;Iis from 81 -is,a at the opening
ana AZ the end rested a, SlIiS.. sisd3s.c
OF. and Dec. at 81 icA-c. 3-sd3i.c OF.
Shortly after the opening II became ap-
parent there was little demand o. any
Consequence. a general attempt IN realize
profits. combined with pressure from Ar
mour and others. caused prices 70 slip OF
rapidly and under sl-i3i. stop-loss orders
were net. and the decline became precip-
itare. with few pauses. the longest-lived
Of which carne when the put price Was
reached.
ST. LOUIS BUYING.
On the extreme decline there was liberal
buying by Spencer for ST. Louis and hint
that Armour was buying under cover.
There Was bull news. which might have
RECEIVED attention. had pi; conditions been
different. Worlds shipments were mo-e
than 400 0og smaller than last year and
e.Sa0o.0Is bu. under last week. and on
this the Liverpool market advanced "a
early, but reacted sd later. Minnes polls
reported the largest -four shipments for
weeks. 1900 bbls-. and stocks OF wheat
in that market decreased O.W bu. and
were receipts OF Loss cars a, the two
Northwest markets. compared With No
last year and primary receipts. 1000 bu-
over last year
Cash prices there lost most OF what
they gained the latter part OF last week.
the sharpest decline at Duluth. She. and
at Minneapolis Psc. The decline at 81;
have been partly due TO the liquidation OF
a lire on which 10 per cent margin calls
were not met locally cash wheat kept
pace with the decline IL futures. with
sales to mills about IO.oo bu-
CORN
Country commission houses and receiv-
ers sold corn freely and added weight
was put on the market when wheat turned
weak. The result was a final loss OF lc in
MAY ard ..Iic in Dec. The trade ap-
parently Is taking little stock in the two
crop estimates under zoo 10000 bu- re-
Gently given out and showed less nervous
ness over the big holdings Cash prices
were steady with shipping sales aoeo bu-
Receipts were 80 cars. 32s are expected to-
morrow ana a
trife larger Updike. sold 5000 bu- May
for Nebraska customers and Sash-WrfSht
and Bartlett Frazier and. toward the last:
Kneeland- -Clement-Curti one Of the bull
houses sold more than a million lorS
Nav corn. On the decline Pringle. Com
stock and Lake bought.
OATS.
In oats there was the same steady
stream of offerings from cash houses and
after an early advance Of i4c the market
sold of &C. closing at the bottom. The
heavy increase In the visible makes stocks
slightly less than triple those OF a year
ago. Local receipts rs cars and rs esti-
mated. Cash market steady.
PROVISIONS.
In provisions the cash interests contin-
ued to take the nearby deliveries. and the
best advances were made in October
products. There also was a fair volume
OF outside buying OF January OF which
J. Cudahy was a seller. Cash trade holds
up well.