The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-02-03


Chicago. Feb s.-wHEAT-A change
has taken place in speculative sentiment
as regards the immediate future of wheat
The start was from the damage reported
to the French crop by frost and by an ad-
vance in Paris market from January IL
to January 90 of over Is cents a bushel,
showing a reaction up to Yesterday OF
about 2 cents per bushel. Many other
causes have contributed to this. but
as important as any is the belief the
worlds supplies have passed the point of
steady decrease. The quarantining of Ar
gentine ports is also a factor of strength,
of wheat from that country and there is
a possibility of supplies from that COM
petitor not being available for the crop
year. The position of Great Britain s
available fighting force is the opportun-
ity of hereditary ioeS ana mere Is CON
slant fear of new political complications
disturbing the peace of the continent OF
Europe. In the United states there has
been a remarkably mild winter with no
snow fall worthy the name up to the
present time. The wheat went into the
winter season in good shape, but n many
sections the growth was rank, although
the principal complaint has been from
districts noting insect life as likely to
menace the crop. We are the thresh-
old of the crop scare season, with condi-
lions of weather and growth inviting to
aIarrnists who undoubtedly win be heard
from in fair numbers. While speculation
is not large, there has grown up a strong
bull party among local talent and consid-
cradle wheat has been taken out of the
market by strong people. These BUYERS
not runners and if their efforts tc get
the market up are successful, they will
press their advantage strongly aside from
all other consideration. The price of
wheat is rather cheap, with a prosper
Gus country behind us and all sorts of
bull incentives before us
CORN-Has experienced mild relief of
late the declines serving some OF the
weak holders out of the market. The po-
sition of corn from every point, but that
of speculation. is a strong one 1t IS pos
sible now with less company on the bull
side. that the market may start on its
long expected upward course. think the
first half cent advance in corn will be
the hardest point in the road to cross.
Many bulls will let go on first advance,
as they are tired of waiting for any more
than fractional profits. With this element
ont of the market supplies of corn will
be less, as the market advances, while
the Ip-turn will be chased by a lot of
bulls trying to get into the market again.
OATS-Are in excellent export demand
and this promises to hold up There Is a
big speculative short interest in this pit
which is likely to grow uneasy with
strength shown by other grains and look
for oats to do better.
PROVISIONS-The provision market
has many elements CT strength. The big
sible to make up in the winter packing,
the excellent cash trade for product, the
light increases in stocks in what should
be the heaviest month of the year are
only Some of the bull arguments. It is
the experience of trade that speculation
rather an incident Of it and less you
should think the strong features in pro-
visions have been discounted by the re-
cent advance. look back to see what the
prices We're this time a year ago. There
is a large Stubborn short interest at low