The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-04-05
PROSPECTS OF RAINFALL.
CAUSE SELLING OF WHEAT.
WEAKNESS APPARENT IN
ALL THE GRAIN PITS.
Severe Break in Corn Is Empha,
sized by Extensive Unloading
by Commission Houses.

Chicago. April prospects of rain
caused general selling Of wheat to-day.
All cereals closed weak. July wheat being
down lssGI1sc. Corn is off la1isc. oats
show a loss OF l"sc and provisions 7@a
&1zc.
WHEAT.
Predictions of favorable weather caused
4 bearish sentiment in the wheat pit AT
the opening. the July delivery was lsnplic
to 44Ssc lower at S.i.IS1Hsc. For Il time
the market held around the opening fig
ures. but lack of any strong support %
began to be felt and prices started down
ward. The fact that foreign grain mar
kets were closed to-day tended to restrict
the volume of trading, as did the aft-
preaching holiday here tomorrow. Inc
absence OF the usual activity III the PIT
in itself Wis a depressing influence Weak
ness in all cash grains after the recent
strength took any remaining enthusiasm
out of the bulls and caused considerable
liquidation OF long wheat. The declines
in northwestern markets were another
element in the situation that encouraged
sellers. Pit traders hammered the market
persistently throughout the day, notwlth-
standing the moderately hulliSh crop re-
ports from Missouri and Ohio.
Final quotations on July were at SF'sc,
after the price mad touched s6itc., May
ranged between 9ii2c and ssh. closing at
Gi3.C. Clc%arances of wheat and flour We're
equal to IA. 400 Du. The amount on passage
increased 1.64S.0D0 bu.. and The visible sup
ply decreased 1900 hu. Primary receipts
We're $500 bU.. against $40. 40 bu. a year
ago. MINNEAPOLIS. Duluth and Chicago re-
ported receipts of AZ cars, compared with
$40 last week and 4S9 a year ago.
CORN.
The early corn market was steady on u
moderate commission house demand. but
toward the noon hour a selling move
ment set in that caused \ severe break.
Local longs began to sell under the i'm
preston that tn" principal holder was dis
corn came out through commission houses
on stop-loss orders. resulting in an ex-
tremely weak market. The IN
wheat and oats was partly responsible FOR
the heavy selling pressure in corn. \ de-
cline Of nearly SC in the cash article
was an important feature in the situa-
fair support late in the day from influen-
tial sources, the close was almost at the
owest point July opened unchanged to
1sMAc lower at Slbd53hsc to 54c. After
selling between 52&c and $3.50 the close
was at 52Ad52Isc.
May ranged between 51iac and size and
closed at Soc. Local receipts We're us cars,
81 of contract grade.
OATS.
The oats market was subjected TO a raid
early in the session. heavy selling of the
May option by pit traders and commission
houses causing much weakness. Before
the decline was checked. May sold off
a cent in sympathy. The desire Of hold
ers to get out of the market over the
holiday was the principal cause Of the
selling. The close was weak and at the
bottom. After opening isc 10 &c lower at
1850 to 39i2c, July sold between aSc and
3si2c and closed at 3Sc. May ranged be-
tween 3sa.c and 4la,M4l'sc, closing at sac.
LLoca! receipts were las cars.
EaNrE nE I-T-rJ-oEa