The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-04-13

Furnished by A. G. Goodwin, Commits
sion Merchant, 112 East Fifth street.

sion Merchant, 1l2 East Fifth street.
Chicago, April 3-WHEAT-The past
week has witnessed an accumulation of
bearish statistics on wheat that will evn-
tually force prices to a much lower level.
and to our mind the trader who does not
sell it on hard spots has no business in
the wheat market The prices has been
held by main force IN anticipation OF
war between some of the foreign nations
or crop damage, or anything under the
sun that would induce the average trader
10 buv wheat The ward clouds were a
last Wednesday,. makes condition of win
ter wheat 81 against SO for last year
sroVernment's estimate Of Tie acrea re
sown to winter wheat last fall is 80, 2S0.
900 acres, and, according to- the Price
Current, may be interpreted as indicating
a yield slightly over 40 100000 bu. Last
year the April report applied to the re-
ported area sown in the fall of 1893. in
May report on the revised return of area
indicated 375,o00 coo bu;; the July and final
believe farm reserves are much larger
than estimated and that receipts at win
month of June will surprise even the most
sanguine bear. The soil IS Inoistened
nearer a new crop. with ample supplies of
old stocks on hand and traders must re-
member that the worlds stocks are now
as large as ever before, with possibly
single exception. The only bull factor con-
visible supply by large shipments. This
looks to US a thing to be expected. in
iieVe that northwest stocks were either
exhausted or unfit for shipment on ac-
count of quality; but, will foreigners con-
tinue to take our wheat at fancy prices,
a declining market. at the rate of
something like two million bushels per
week in excess of former years?
The wild advance in railroad stocks,
pork and the consequent strength in corn.
has largely been the cause of good traders
refusing to sell wheat short, but 1t seems
to Us that these conditions have been dis
counted by the favorable winter, the per-
feet spring and the universal reports of
brilliant prospects for growing wheat the
market for the last two months has dis
courage traders from participating in the
their course and have been eliminated and
the market viii now respond TO natural
conditions
CORN-Corn is in a strong position, but
the price is high Continued wet weather
has shut off country receipts and spring
farm work is at hand. The strength in
the fact that the great commercial corn
territories, not only IN Kansas but all the
commercial corn states. are short actual
commercial supplies rms IS 1uily DEM
oIistrated by the light receipts in Chicago
on q &c advance, viz, only 143 cars today
The strength in corn, barring every other
strated by the fact that the successful
bull leaders are transferring their long
tions. The closest observers are now
ready to cOnceda that the large elevator
interests are back of the Phillips deal and
it is fact that No or better corn is
selling in Kansas City at practically Chi
-cago contract prices
OATS-Oats have been quiet and fea-
tJireless. sympathizinE with corn to GER
PROVIsION s-There were only 1900
the week about half as large as last year
There Is an excellent foreign demand for
meats. and it seems to that July pork
is a purchase around present prices.
A @. GOODWIN