The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-02-11

/ Grains, Provisions Cotton and Stocks
! 4s6 CORRESPONDENT Christie Grain and
Stock Co., Kansas City, MOI
wHEAT-The wheat market this week
has been dead one, the extreme range
from high to low being only 11sc per
option is only S-16c away from the clos
ing price of a week ago. The high point
The market has acted very much as
though it was getting ready to do some
facts relative to conditions you can draw
something is liable to be.
Chicago 7dvices are to the effect that
professional traders are switching from
/ the bull to the bear side of the mar
Reports are to the effect that the New
York crowd are sellers on all hard spots
Worlds stocks are nearly 10 million
more than last year.
American stocks are so,714,OCo bushels, or
l, $4,000 bushels more than last year.
Russian stocks increased 100000 bush
els, against a decrease of 100000 bushels
Foreign cables show . growing desire to
let go of their holdings.
Wheat stocks at st. Louis and Kansas
City only decreased 241 90 bushels in
january. The two points nave over nVe
million Srd a half bushels.
Liverpool wheat stocks are /, 63e, 900 bush
els more than last year.
The visible supply shows an increase of
double the increase shown a year ago.
ST Louis reports the smallest sales OF
Winter wheat IS N good condition, hav-
ing had good rains or SHOWS over the en-
Minneapolis advises the country has
been selling more freely.
Volume of wheat business has been ex-
tremely small.
Flour trade has. been very quiet, both at
home and abroad. Mills nav. been pre-
ducing more than they have sold, conse-
Cuently the flour stocks have Increased.
The closing price today for May wheat
ClCgiUR DTiCe
lot May wheat one year ago today was
We beIie1e that every legitimate '.bulP'
argument has been worn threadbare and
is discounted in the 35c Advance in price.
TENDER wheat in February a year ago
and boosted the price on July 20 $3.50 and
clined later to s5c and soc per bushel, re-
spectively.
facts; it looks to US as. though the money
in wheat IS 10 be made out of the sncrt
side of the market.
CORN-Trade in corn has broadened out
considerably this week and the buying
has been of excellent character. F1uctua-
tions from day to day have been within
narrow range. The tendency of the mar
ket has been upward, and tonight's close
shows an advance of 1c per bushel on
both the May and July options for the
week. Conditions generally indicate con-
siderably higher prices and in the very
tine will edci:e exToits in that country
at least 20 per cent, compared with
last year, ana Wnlcn means ABOUT ~ mil
lion bushels Ocean grain rates have
dropped from 1919 to so per cent. Freight
rates on export shipments have been cut
crease shipments to foreign countries and
very quickly absorb our Surplus.
Corn exports via New Orleans and Gal
weston during January show increase !
of over six million bushels for the month
as compared with a year ago The rail- |
roads report heavy shipments of corn to !
all seaports for export. Stock feeders are |
contracting for corn for March, April and
Chicago May price for it. 1t is reported !
that one railroad has three million BUSH
export. Chicago receipts have fallen off
about two-thirds. Farmers are no longer
that the big winter movement is prac-
tically over. 1t is more profitable tosfeed
or KANSAS City on the basis of present
prices. July corn is selling between 4 and /
cents per bushel less than the average
price of the crop for 1904. The low price
of the May option" on this years crop
was 431zc per bushel
Fridays close on the May "option" was +
$3.50 or only 2ssc per bushel from the bot
tom. Two of the largest corn producing |
states are shipping corn in in place of out |
and paying practically Chicago May price
for it. We believe corn can more easily |
be advanced SC than forced down lc. Chi
cago July corn advanced Csc per bushel /
during the month of February year ago.
If you haven't any corn you had better
: CATS-There is little to be said about
the oats market. as same has been prac-
ON Fridays close which is only 55c over
a week ago, was no doubt made in SYM
pathy with corn. Farmers are showing
more disposition to sell oats, which is
only natural they will be the first of
the coarse grain crops to be seeded and
titles of present stock will be carried
over into the next crop.
PROVISIONS-Hog receipts have been
larger than were estimated Prices have
been stronger. Both the export and home
demand for product have been good.
Packers have been conspicuous buyers on /
all soft spots. Total stocks at the prin-
cipaI hacking centerS show some increase
over a year ago, but as hogs are costing
practically the same they did a year
ago and products selling for from 20 to
3 per cent. less than it sold for during
of last year, we believe the
money in provisions is on the long side of
the market
wear ago ribs advanced 115c per pound,
mess pork So 80 a barrel, and lard s325 per
tierce We believe they are all three good,
safe investments and will make the pur-
chasers money and we believe that when
the proper time comes the packer will
advance prices fully as much or possibly
more than he did year ago. In the face
Of increased hog receipts this past week
The market has held its own and the clos
ne quotations tonight were the same as
those of a week ago, which shows the
situation to be very strong
one and in good, strong hands II you
10 not own any pork ribs you should, ! !
and we suggest that you buy them imme-
liately while you can DO so at not TO
Exceed their cost of production.
COTTON-The cotton market has been
mite active, the extreme range from hlSn
% low being SO points, or S1.65 per bale,
which has made the market a splendid
scalping one, as the market has fuctu-
mstrong Commission Co.