The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-05-11
q market in Chicago and business was

day market in Chicago and business was
of small volume.
The Cincinnati Price Current in its
review of grain trade and crops, says:
THE growing winter wheat crop is
maintaining a very promising condition,
the weather during the past week hav-
ing continued favorable. The recent
moderate rains over a large section of
the wheat area, coming after the hot
weather of last week, were opportune
and checks for the time being wide
spread or serious complaint of drouth
The only states in which any shortage
in yield is indicated at present are Texas
and Oklahoma. In the northwestern
states spring wheat seeding is prac-
tically finished and where it is appear
ing above the ground it has a good, even
stand and color In Kansas the week
was favorable for farm work, which
was principally ploW1ng and planting OF
corn. The corn is having a late start;
some is up, and in a few localities it has
not a very good stand, but condition in
a general way may be regarded as mod
erateIy favorable"
According to the government report
figures, issued yesterday afternoon, the
winter wheat acreage is about two and
a half millions larger than last year
and indicates a winter wheat yield of
AGO, 100000 bushels, and it should be re-
membered that conditions very seldom
deteriorate after this date, and that the
government estimates are nearly always
a hundred million bushels below final
commercial figures.
None of the elements that endangered
the spring wheat crop at this time last
year are now in evidence; therefore,
with the worlds stocks of wheat right
close to the largest on record, and light
speculation, it certainly looks like good
sense to sell wheat short on every
slight rally until the price gets down to
where it belongs.
We desire to call the attention of trad
ers to the fact that wheat is about
cents a bushel higher than it was a
year ago, with the whole world afire
with crop damage, and beariSh condl-
tons gradually accommodating. The price
has been too high for several months
and absence of speculation alone is re-
spOnsible for these prices. It is evident
to the conservative trader that the mar
ket is being held up by the Chicago
crowd, hoping to be able to induce the
trade to buy it on crop damage news
and bug stories as they have done here
tOfore nearly every spring, but so far
the trader who has profted by past ex-
perience has refused to be Skinned
We may expect a preponderance of Hes
sian fly news shortly, and if this scheme
fails to bring in buyers it will leave the
big spectators long a lot of wheat, with
no one to unload on.
CORN-There was a. break of over a
cent a bushel in July corn today The
bear crowd was pretty well organized
and hammered the market down in spite
of the efforts of Phillips and commission
houses to stop it. Phillips bought heav-
lily around 44c and private wire houses
kept the wires hot advising its purchase
on the break. There were PSI cars to-
day. If Phillips can stem the tide, July
corn should turn from around 44c; other
wise we will get a hard break.
OATS-Quiet and featureless. Re
ceipts, 191 cars, with 220 cars estimated
for Monday. Commission houses were
the buyers and the bears on corn were
the sellers.
PROVISIONS-Pr We're slight
ly lower. Receipts Of hogs at the yards
were 1900 and the market strong to
higher. Packers sold July pork at the
opening, but were moderate buyers on
the break. The trade is bearish and
are moderate sellers on the rallies, hgur-
ing that warm weather is near at hand
and that hog products generally decline
in value during the summer.
A G. GOODWIN.