The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-04-29


WHEAT-We have had an exciting
week in the wheat market, in which
was witnessed the legitimate ending of
the much advertised Gates corner In
May wheat, and which simply adds an
other chapter to the history of all cor
ners that have been attempted in this
cereal for the last twenty-five years.
The wheat market has never been sue
cessfully cornered by any man, or
CLIQUE of men, for any length of time,
and this one is a repetition on a small
scale of the celebrated Joe Letter cor
ner, which you all remember of some
years ago.
The liquidation Of this deal has car
ried the market below a price that it
would have been selling had there been
no manipulation and wheat selling on
it's merits for the last 80 days We
doubt very much if wheat in July sells
as low as So cents in July or in Sep
TENDER at 80 cents
While all the growing crop conditions
are rosy at this time, a comparison with
q year ago shows the condition then
was for full crop, while 46 days later
the crop showed such severe loss as to
make it the shortest crop we have rails
ed in years in proportion to the acreage
seeded. With everything in favor of the
bears. present prices should be main
tanned on all the new crop futures dur
ing the next go days, and with full
crop of wheat. the value at which 1t
should go into consumption will in all
probability be not much under S5e per
bushel. Prices may go some lower ana
you might make a small profit on the
short side of wheat in the near future,
but for long pull wheat should be
bought for July and September delivery
and before the harvest is over purchases
made around SOC will undoubtedly show
very fair profits. We will get plenty of
crop scares between now and the first
of June and the market will be very
sensitive to any bad news from this
time forward
CORN-There was nothing that should
have caused a decline in corn except the
sympathy it had with wheat. Receipts
of corn are light all over the country.
the marketing of last years crop of
corn has been very liberal and with a
new crop not even vet in the ground,
there is no reason why present prices
should not be maintained until the new
crop is fairly on the road and beyond
serious damage from dry weather, and
which takes US up to the first OF Au-
gust. We are still of the opinion that
July corn will sell above soc and would
advise buying on all weak spots.
| OATS-Oats are at price that they
are not attractive from either side, not
high enough to sell nor low enough to
| buy With a fair crop this year they
will undoubtedly sell a few centa lower,
but there is not enough speculation in
them to cause any material activity or
much movement one way or the other.
They will be almost entirely affected by
the amount on the market for sale i'm
mediately and for the next 30 days.
PROVISIONS seems to be a
very mixed opinion among the wise
ones regarding provisions. The Ar
mour crowd, as we get it, are bearish
| insisting that there will be a liberal
| rim of hogs all summer and that there
will be but little increased demand for
provisions beyond the daily receipts OF
| hogs from which the supply is manu-
featured, while some other people who
are equally as well posted, the Cudahy
faction, anticipate a very sharp ad-
vance in the near future.
CHRISTIE GRAIN & STOCK co.