The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-10-23
CONTINUED LQUlDA TON CAUSES
SLIGHT DECLINE IN WHEAT PRICES
After Early Advance on st. Louis
Bull Buying December and
May Drop 3Sc.

REPUBLIC SPECIAL.
Chicago, Oct. Good early buying o.
wheat by the ST. Louis bull crowd, followed
by support By Milwaukee houses, absorbed
some heavy selling By Armour and forced
an advance OF 3Se to SI.1siis. the hIghes,
point Of the recent bulge. But the Armou,
selling continued. nearly $4,000 bu. in all
the Northwestern market turned weak
there was heavy selling OF Dec. for North.
western account. and the market turned
easier. losing all the early gain and closing
at sc loss for tho day and at the bottom
at S.l31.
WHEAT.
Tho Spencer house was largest buyer o.
wheat at the opening, but sold some on
the swell. Ar. Spencer. the leader of the
ST Louis bull crowd. who carne back from
Minneapolis to-day. said:
u saw nothing In the Northwest 70
the situation extremely buIiish, because Of
me great scarcity Of good milling wheat.
Lhey are having a good run of receipts
Sorthwest, and 1t may last a month
longer. because cash prices are at pre-
mluMs over the futures n because so
much or the wheat is Of such poor quail
i1g farmers have to get rid OF It quickly.
Wnea This rush Is over; the strength OF
clearly"
One Of the early bull factors was the
SAFE OF 5000 cash wheat to miliers, most
OF this; however. the milling demand was
generally reported slow and cash prices
a shade easier, Minneapolis reported the
Mashburn-Crosby mills had bought 1.0Oo,-
90 wheat In Manitoba, to be ground in
this country in bond. Local tradeers
considered this buliish until the North
western market turned weak. One Minnea-
nlrG = as~~%
wheat in the country. The flour demand,
1t was reported here and in the North
west, had become dull on the advance, and
the Armour people intimated some OF their
rid Of long wheat because OF the poor
-four demand. The estimate of large Rus
sian shipments n the fear OF a bearish
showing in the visible supply statement
caused some liquidation.
CORN.
Corn was dull. There Vas enough SELL
ing against daily and weekly calls to pre-
vent any advance, and finally forced a
break of &c, with the close at 45aasc bid for
May. The favorable turn in the weather
throughout the corn belt. which was clear
and cold. with no indications of rain.
robbed the market of the support II has
had recently of covering by shorts. Coun-
try adytces say late pasturage is still fine
and will curtail consumption Of corn. Re
ccipts keep light-ll2 cars in and only IS
estimated for Monday. Receipts for the
week were 10000 bu. less than shipments.
Cash prices were steady and shipping
sales about Ii5,9U bu.
OATS.
Oats were affected by the easier tone
IN wheat n corn and by Shows estimate
OF a crop Of 2s.oco.co. May showed some
nrmness on local buying early. but closed
&c lower finally at 30Sc sellers. white
Dec. lost &c. Cash prices were q shade
easier. shipping sales about 5000. There
were lie cars in and Isl estimated for
Monday.
PROVISIONS.
Buying Of lard and ribs by the Cudahy
Packing Company and other packing in
terests gave provisions an upward start.
but when grains weakened scattered liaui-
dation caused q loss OF early gains and an
irregular close. Hog receipts were 5000:
81 oo expected Monday and 10000 next
week. Cash demand moro quiet.