The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-01-20
SHARP ADVANCE IN WHEAT
DUE TO DEMAND FOR FLOUR.
TRADERS BEARISH At FIRST
OVER PROSPECT OF PEACE.
May Option Sells Up to 90 Cents,
the BAYS Business Ending
Close Ia That Figure.

Chicago. jan. lr-An advance Of Is was
scored in wheat to-day. largely A. the re-
suit Of an active demand for -four in the
Northwest. Corn advanced &c and oats
Were up a shade. Provisions We're an
changed to 5'.c higher.
WHEAT.
TIE crowd in The wheat pit was hearish
at the start on an improved outlook re-
sardins the war situation. The peaceful
uttcrance Of the car was reflected in a
fair advance in the price of British con
>n!S. which tended 10 relieve ANXIETY in tht
minds OF shorts. 70 give further a-Sur-
an"" prices IN foreign grain markets wect
i"N =. As Il result opening quotations here
Ne" c2SIel. May being unchanged to Il
lover at S'-c I" S>'sc. During the carIN
Pat Of th" session there was considerable
,,!!nG ~ professionals and prices were
inclined toward a lower level. Support ny
tn leading long. however, prevented 10y
-'.'t loss. May holding to $50 At tAc
On. e an Lour talk of a big -four demand
at MINNEAPOLIS aTreIred 70 affect the sen.
sitiv- local shorts. Those who mad sold
on the Early r"Ir:Sl news suddenly waUtel
the wheat back. but found to their sorrow
that offerings were not fOrthcomiug. The
result was that thu market assumed "a
tuliiSh ISpec, and prices started upward
I'll" market was furthe- strengthened by
tn" announcement If Il decrease NJ $3.50
ca hu. in the worlds visible SUPPLY figures.
The Str' rgth in outside markets also deep
'il'i IN" i"gil0S OF CONVICTION IN the UinGS
L many traders that the long sid" was the
"lfe side Of whoa. In Consequence an
a-tiv" demand prevailed tn" remainder Of
The session. tn the advance Nay sold UP
To- 91c. and. although there was heavy re
2iizinE at that figure, offerings Wee we'll
taken and tho close was strong at
= 'sT9.r ClsIranc.S - Wheat and -four
We're equal 70 259ff hU. Primary receipts
woce SS.5" hU.. against 1890 hr.. a year
aG". MINNEAPOLIS Duluth and ChiCag" re
ported TCCrip : IF 80 cars. against It's ears
last week and ~ a Wear ago.
CORN.
Corn was w"lk carly. with those houses
which have been active on tho hulI side
"f lat" selling IN a fairly large scale. The
local crowd also sold quite freely. Higher
consols and indifferent cables were the
chief depressing Influences. Later. when
wheat turned strong. the market rallied
and a good many of those who sold early
covered at a loss. The shipping demand
continued good There were more liberal
receipts. hut the grading WIS poor. After
opening a shade to i,aNsC lower at 1910 to |
i$igC. MAY sold up To 1870. CLOSING at [9S,
1890. Local receipts were $50 cars. none
Of contract grade.
Oats w-re easier early along with othc-
There was considerable selling hy
commission-hcuscs. and prices showed
some losses from Yesterdays level. Later.
the loss was all rsGaincd on covering by
shorts and on a fair scattered demand.
The sire lEth in wheat and corn was he
chief supporting influence. The close was
with May a shade higher at il2.d
il'Sc after selling between tlN-c and tlTsr. |
Local receipts were 2i5 cars.
RANGE OF FUTURES.