The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-03-18

Kansas City, Mo-, March IL, 1905
WHEAI-The wheat market continues
to be a nervous and unsettled one. The
market has been quite active and the ex-
IRENE huctuations in the May future were
SIC per bushel. The possibilities for profit
have been about as good on one side as
the other, of the market. In other words,
the market has been an excellent scalp
ing one The May future has been strong
er than either July or September. May
for the week as compared with an advance
of only &c in July and 1sc in September
creased S49, 600 bushels last week as com
pared with a decrease Of 731, 900 bushels
the corresponding week last year.
The visible wheat supply shows an in
crease of 2067, 900 bushels this week as
compared with decrease of $4,000 bush
els the corresponding week of last year.
Wheat exports in the United States for
the past eight months were only 4196,022
bushels, decrease of 36,5l7OO0 bushels
from the same time a year ago, which
shows how far out of line our markets are
with those Of foreign countries. A north
western miller recently sold $500 barrels
of -four to eastern buyers at 70c per barrel
under the price quoted by big Minneapolis
The aggregate supplies of wheat in sec
ond hands in the United States and Can
ada on March were ], 692, 900 bushels more
The government report issued under
date of March 10 shows the amount of
wheat remaining in farmers hands on
March / to have been Ill million bushels
or POL per cent of last years crop.
S1.14sz per bushel May wheat in Chicago
closed one year ago today at 94Ac per
AS the total available supplies of bread
stuff on March 1 represents 175, 10000
and which is u, 100000 bushels more than
a year ago we still feel as though wheat
was entirely too high and that there is
the long side of the market Sell wheat.
CORN-The corn situation continues
very strong, and at one time the July
future sold at practically &c per bushel
advance over the closing price of a week
ket temporarily lost part of this advance
but tonights close was within sc OF the
high price for this year ana no shows she ys an
We have been absolutely right on this
corn situation and our prediction OF SOC
This week Those of our customers who
took our advice and purchased July corn
nroft We firmly believe that Chicago
July corn will sell at Doc per Dushel, ana
advise the purchase Of same eoaa,, - 1assc
per bushel. The same option closed one
year ago today at 5o5sc per busheL II
should be and we repeat our previous ad-
vice, buy corn and on any little decline
hold on for an advance of or cents per
bushel. .-,-..
naturally sympathizes to a certain eXten5
with the advance in corn, but on all hard
spots the market was consiqereeo, az q ssate
and closed where it did a week ago Inc
government report Of the lOth estllnates
oats in farmers hands on March 70 pc
347 million bushels, which is "a mlllon
bushels more than on March a year ago.
we stin favor the short side Of the oats
market and believe that the July future
should be sold around BIZ to 80 cents per
bushel- .a
a4111J more life to the provision market
this week than for some time past Botn
the public as well as the pro1esSslionatts
have given the market consideraple az
fentior. The export as well as the home
demand has been fair but from this on
tT1s demand should increase materially.
C9llr advice on provisions has been 70 Iayor
fhe long side of the market on the 1uii
line lTodav's closing prices show an al
vance of S11kc per barrel on pork. &c per
hundred on ribs and 20c per hundred on
lard for the week July pork oaos~o eS3aS