The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-08-28
AL TERNA1ING BULL AND BEAR NEWS
KEEPS WHEAT MARKET IN TURMOIL
Corn Is Down 7-Sc to 1 l.Sc-Oats
Decline lie to 3-8c-Pro-
visions Off.

BY ASSOCIATED PRESS.
Chicago. Aug. 2.-Aiternating currents
OF bull and bear enthusiasm swept tho
wheat pit to-day. leaving prices &c above
the previous close. Corn Is down SgIlsc
oats lost &c to sc In the final quotations.
Provisions varied from JI7i.c to 27izc off.
WHEAT.
Wheat started out with Indications OF
strength. althoug there was nothing of q
seriously damaging nature in the early re.
ports Of crop conditions. Sept. was up Isc
to &c at sl.0S to sl.06Is. and Dec. &c 10
nc at sl.07as to sl.O7I and these figures
were seemingly based on a a.c higher curb
market at Minneapolis. together with i'm
proved Liverpool cables. After the first few
minutes the market lost its firmness and
declined to sl.05A for the nearer month and
To slG524 for the deferred delivery. The
bears APPARENTLY held hopes of a federation
of advices from Manitoba OF a crop in tx
cess Of last years.
The market WIS very nervous. and traI-
ers evidently were Little inclined 10 take
long chances either way. The low prices
brought out some buying orders. and with
their appearance the early sellers became
wary. and soon the demand was in excess
OF me offerings. Later rust news was Just
bad enough to keep the bulls confident.
and for a time their confidence swayed Dill
sentiment toward higher values. Sept. ad-
vanced to Slo6ss and Dec. to sl07at before
the next wave of profit-taking checked the
upturn.
The second and more severe break.
caused partly by a report of favorable re-
turns from thrashing In South Dakota and
Minnesota. eclipsed the earlier one and re-
placed the former gains by ne. declines
from the previous close; Dec. dropped to
loss was attributed to unloading OF long
lines accumulated by the leading bulls yes
.erday, and on the uncertain temper OF
the market there were many smaller sell
evs ready to assist the decline.
During the final hour a calm settled on
the Dit. and with the receipt OF bull news
from Budapest relative to almost total
crop faiulre there. and from Kansas CITY.
whore it was said that elevators were al
most empty and but little wheat was to be
had. the close was steady with prices frac-
tiOnaily higher. Final quotations were:
Sent 81 Nc. Dec. 81 1918.
Clearances Of wheat and Hour were equal
to t4.Wo .bu: I'M receipts were 182 700
bu.. against 7N.io bu. last week and es1-
and Chicago reported receipts OF go cars,
against go last year.
CORN.
Corn receipts were heavy and still larger
arrivals are locke for next week. when
the bulk of grain bought in the country
by local firms during the last week will
find Its way Into this market. With SO
much cash grain in sight and with the
weather such as 10 eliminate for the pres
ent all fear OF frost. a bearish feeling took
possession of the market and there was
little opposition offered to the declining
tendency Of prices. Sept. started l2c low-
er at Sac, and on liquidation declined to
sc, and Dec. was unchanged to nc off
at the opening and sold down to 5oxc.
Buyers seemingly found offerings plentiful
and were disposed TO bide their time.
southwest houses were prominent in the
selling. and a good-sized line was sold
out early by a prominent bull. Sept. closed
weak at 52ssc. The Dec. option found a
few buyers at the low figures. and closed
at 61sc. Local receipts were 1852 cars.
As in corn. fine weather and prospects
for heavier receipts induced general iiqui-
dation in oats. Sept. opened at &c adj
vance at 32lzc and that was the best price
for the day. The closc was within &c OF
the low point at &c. Dec. was unchanged
to &c higher In the opening quotations.
sold down to 327sc and closed weak at
33lsc. Local receipts were 2B cars.
DaNI~ II, Ir-rr-pro