The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-11-24
WHEAT DECLINES SLIGHTLY Under
LIBERAL RECEIPTS IN NORTHWEST
Oats Activity Increases, and Pro
visions Move Little During
the Day.
REPUBLIC

REPUBLIC SPECIAL
Chicago. Noy %.-Coatinuei dry vea-
Their in the Southwest. an early squirt in
wheat o buying of May for st. Louis ac-
coun, by Spencer. and Of July for South
western bulls. and open Armour support
Of May, were not enough 10 Offset local
sentiment.
Advances OF &c were lost and closing
prices were unchanged TO sc lower. Ar
gentine news was conflicting. BroomhalI
reporting weather still unsettled, but a
direct Rosario cable TO Armour reporting
fine weather. The course of the market,
however. seemed TO depend mostly on
what the trade believed Armour was DO
ing, or wanted to DO, and the perplexities
Of the local trade on this subject were
not much relieved by the fact that there
was open Armour buying Of several hun
dred thousand bushels. which was the
principal influence IN forcing a rally OF
about &c from an early break 10 sI.Iois
for May. but pit traders. vino bourlGht on
the strength OF this open support. found
only d limited demand on the bulge. and
in getting rid Of thei- long property had
TO force another sharp decline near the
close.
This break was helped By reports Of
heavy selling in Milwaukee and in Mime
apolis. with runors from each market
that this selling might be fer Armou
o AS the chief fear Of the aver
age wheat scalper at present IS that he
may become oyetenthus.asrc on some
bulge and be laaGed up with the wheat
the Armour interest bought on the recent
break, speculation as 10 what that inler-
est 4 nn.FC nm matter how Ert or ILL
founded. Is an important market factor.
AS 4 matter OF fact Is moderately
builish. There was other good buying on
the early breaks by kequa. Love and
Cgdshy brokers on the late break by
Pringie.
on the bulges there was considerable
selling by BaEtlet5.Frszier spence.
some OF II possibly for Armour. Large re
ce-pts Northwest exercised d beaTish in
tluence, which was parity offset by re-
better demand for -four and cash wheat
There appeared 10 be 4 snade more IN
terest in the cash wheat market here on
the part of the nillers and sales were 49,
40 bu-. including 1p,v9 NO. : hard at
&c under Dec. IN store to Buffalo. No;
; Northern Manitoba wheat was offered
al Ss<c c. If. Buffalo.
CORN CONDITIONS.
Reports of smaller country consiguments
OF corn and an advance Of about 1c n cash
prices Offset the influence OF continued fine
weather for grazing and movement. IN
cary transacifors II the pit = little de-
mand by Dec. saorts forced d rally ui
sc, and under the same sort OF buying
May sod up is14c 10 4e1sc. After this
buying vas over, however, the market
turned duil and became heavy. the Dec.
retaining &c OF its advance a. 4s>sc, bu;
May closing a shade lower at 5sc. The
falling of in country -cons;gnments is du
to the sharp break in cash prices and 70
the attitude Of iocal dealers. who have
! advised their customers 70 hold their corr
for q week or two, when its quality vii
be better and the demand for II aso bet
ter. There were SO cars inspected IN and
$50 estimated for Friday. Shipping demand
was moderate. Sales sl,G0 bu-
+ ACTIVITY IN OATS.
There was moro activity II oats, owing
TO a demand for Dee. by shippers. WHOSE
purchases of the nearby delivery against
sales of May reduced the Dec. dlscUuni
from 9esc TO 2hc. Standard oats are he'd
AT 1c over Dec and shippers bought Dec
hoping for delivery on tt@-eentracS early
! IN The month. sc over lffo beng Did fol
round lots for shipuess--V0 20 Decemoe'
10 The close was sc higher for Dec. I'M
changed fur May and July- Receipts
small, s cars in and LII estimated Cast
prices were. steady TO &c higher. Ship
ping sales 5000 m.
Provisions moved little. and were steady
! TO nc higher al the ciose. Most Of the
trade was merely changing into more De
ferTed deliveries. Hog receipts c,,e9: est
mate si.gn: prices Sc higher.