The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-05-12

View of the Grain Market, furnished by
Thomas J. Myers, broker, ground floor
Columbian building, Topeka, Kan.l

WHEAT-The government crop report,
issued yesterday, makes the condition OF
the winter wheat crop 92.5, against 9l.6
on the same date one month ago. The
area now standing is %, l23,0O0 acres, which
Is /. 432, 600 acres less than the area re-
ported sOwn last fall. The report sug-
gests a crop of about 450 900, 600 bushels
The winter wheat crop last year was $685.
090O00 bushels on an area at harvest OF
1856, 900 acres With an average crop Of
spring wheat in the northwest the total
yield will probably show about 650O00,OOO
bushels. The great question now is: does
an estimate of $50 600 bushels compare
with a crop of five years ago, when $780,
10000 was thought to be a large crop? A
large crop now should be at least 900
bushels, when compared with the basis
and size of crops prior to the census, when
the estimated average and yield per acre
were generally less than the final reports.
Since then radical reverse conditions have
prevailed The bears nave been and are
taking about as much courage as at any
early May in the last three years. Each
May they predicted big crops and low
prices when the price was within 1 or 2
cents of the low price of the year. Each
wear the price a little later on advanced
from 20 to 80 cents per bushel and the
most surprising thing of all is that the ex-
port demand fell off. Each year was diff
ferent from any preceding series Of years.
For the last five years stat1sticians ana
crop experts sitting in the sky scrapers
have fooled the people on an average OF
yield at II bushels per acre or more. The
last five years average on acreage sown
was but 1927 bushels per acre. The final
estimates were less than 70 per cent of the
early estimates scattered broadcast by
bear statisticians, elevator interests and
millers. -.
I can see nothing in a crop of $50, 900, 00C
bushels to make cheap wheat. 1t has been
pretty well demonstrated and proven that
our own home wants will be about $4,000,
/ 600 bushels and the output / have named
I will he necessary more than one year &c
supply empty bins in a very moderate
way.
| There are a number Of things to eau
! ton one against selling wheat. The mar
ket is fearfully oversold. The producer
| will be the only man with wheat for SAFE
next July, August and September, and he
| will know what to ask for it. I advise
/ the speculator to watch the cash Wheal
| market I'd to the time Of the coming II
| of the new wheat. 1t will not be difficult
/ to arrive at a conclusion in the next few
/ weeks as to the situation If you hnc
| that reserves are exhausted and we are
! dependent on the new crop look for al
excited and advancing market The s1z'
| of the crop will not cut much figure be
fore next winter. as there will not be any
accumulation before that time.
/ This is the situation and I believe Sep
/ TENDER and July wheat bought on breaks
/ will make the Spectator money.
The Chicago Daily Trade Bulletin.
1 statement of the worlds wheat and houl
Il stocks shows a decrease in April Of II,
i 2S3,0 600 bushels, compared with a decreas'
! Of 100000 bushels in the same month las