The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-03-25
Kansas civ, Mar

Kansas City, March "a.
WHEAT-Did you act on our advice
and sell some wheat if so. you have
no cause to regret it. The market
opened steady to strong at about last
weeks closing prices, which prices
were fairly we'll maintained until
about the middle of the week When
under heavy liquidation and continued
favorable weather condition for the
growing crop also large Argentine
being estimated at 146 million bushels
or Fl million bushels larger than last
year the market gave way and the re-
suit was a break in today's market of
4 cents per bushel from the high point
of the week. Today's closing prices
show the following declines as COM
pared with Saturday, the 18th, May
"a July 2 81 September 2 n cents
pally in the July and September op-
tons, and weather conditions from
this on will cut quite figure as this
is one of the times during the year
ferred to as a weather market. So far
the weather has been almost perfect,
and growing crops are generally re-
ported as being in A. No. 1 condition.
The probabilities are that the April
government report on winter wheat
will show a decided improvement over
that of December. Long wheat cams
out freely on all hard spots as wen as
some of the soft ones. st. Louis as
well as Chicago operators were free
sellers of the July future early IN the
week, but as practically all OF this
short wheat was covered on the de-
cline we doubt if the short interest is
any greater today than it was week
ago. We still favor the short side OF
the market and we. repeat our pre-
vious advice and say to you, sell
wheat"
CORN-LiberaI realizing sales had
temporary depressing effect on the
corn market, but commission houses
and large buying orders and all o1er-
ings were quickly absorbed. 1t is our
belief that long corn is now in strong
er hands than ever. Receipts have
been quite liberal but as feeding pays
better than shipping and farm work
will also soon begin the probabilities
are that receipts will fall on ma
teriaIly after the first of the month
Hogs are bringing the highest prices
since October, 1904 The average
price for this week will be about 500
per hundred, which means about
cents on the farm. AS cent hogs
net SO cents per bushel for corn lt Is
much more profitable to feed the corn
and sell it as pork. we believe that
legitimate conditions warrant 55c
price for the July future and think It
will sell at that price and possibly
higher. We have urged the purchase
of July corn ever since it was selling
at 44c per bushel and we again advise
you to buy corn
OATS-ShOrt SellllB on LdNpIdb4C
weather. conditions, an increase of one
million bushels in stocks in all posi-
lions last week, and seeding from two
weeks to twenty days earlier this
wear than last year, all had a depress-
ing effect on the oats market this
week Liquidation was also quite no.
ticeable and the result was a weak
and unsatisfactory market, and the
closing prices of both the May and
July options show g decline or lc per
b1shel for the week. Our advice on
oats is the same as for weeks past
sell them on all hard spots or adj
vances.
PROVISIONS provision mar
lxet shows very little change in quo
tations as compared with week ago.
we believe the situation to be a very
strong one and both ribs and lard
due for a sharp advance in the near
future. Our special rib letter ex-
plains in detail our reasons for IaVor-
ing the long side of this market SO
Ear fhe provision market has not re-
snonded TO the recent advance in hogs,
Int sooner or later it is bound to do
so. From a cost of production stand
Doint. there is only one side TO the
provision market at present, ana
mat is the long side. Buy ribs, pork
or lard. but give ribs the preferences
We believe money invested in ribs VIII
more than double itseI
in a short length of time.
CHRISTIE GRAIN & STUCK u