The Topeka state journal., 1906-06-23
Kansas City, June q

Kansas City, June g.
WHEAT-The market mas given you
another good week of uneasy market,
playfng back and forth in good shape and
closing tonight with the bulls a little the
best Of it, as it closed &c higher than one
week ago I think in my experience with
the market they need some of the weak
est things to cause these little Snarp
bulges through the week For instance,
dry UTea ther in Argentine when they are
lust sowing wheat Black rust in Illinois
on winter wheat and that in a part OF
Illinois where there is very little winter
wheat raised at best A week ago on
dry weather in the southwest, this week
on wet weather in the southwest, ana
when you sum the thing up as 1t really
ehon1d be If looks to me that the bulls are
running out of gossip, and are using most
anything that comes along to help sustain
the market when it starts down. The true
situation is that we have Iair crop OF
winter wheat assured we nave IN the
public elevators IN the Onlteo states ana
Canada i, ,2S20 600 bushelS more Lnan last
year at this time; the stocks Of wheat at
Minneapolis and Duluth are l6.oS9, 900
1ainsf 7sB.OO0 bushels last year, more
fhan double the mills are well supplied
with -four, and the exports are very poor
The growing crops in the northwest are in
fne shape and this is the place that the
bulls must expect help from If they ex-
meet to sustain present prices; as the
market is away above an export basis
now. and plenty high enough for all nor
NAL conditions, know that there are
many that can see one dollar wheat just
now, but they have saw higher prices be-
~ milling Wnet on what might happen.
I think If nothing happens the spring
wheat the chances are for lower prices.
CORN-WeIl this market is not so
strong this week, and as 1 said before
that they were going to try to make you
think that corn was worth the money,
and get you to believe that It would go
much higher and when you really thought
that YOU could see 90 and 10 cent corn,
Won better sell them a little. Well they
have done good Job and have most every
body convinced that 1t Is going TO go
much higher, and some of the bulls are
| using the alcohol bill and everything else.
| Now I tell you that the alcohol bill is as
| moor a thing to bull corn on as the d~y
4 weather IN Argentine for the wheat IT
! that thev do not know what else 10 say.
/ THAT hill will never help the price OF
| corn for they make It out Of potatoes
| and refused fruit and stuff that is going
4 to waste This Is the way that under
stand It but the bulls on corn used II tc
/ b,1u corn on and that with the dry
/ weather thew done ? good lob. but it has
had its effect on the market and has
1 given you all a good hard snot to sell
/ them some corn on and Just take the ad-
/ he telling YOU Just what I say here bui
| II viii be when the market has declined
| corn is too hfVh and Will sell lower as
| safd last week: 1t alwsvs has rafned II
i drv times and would this time. and leave
/ the ones that hlrV It on such raise elOld-
/ ing the sack There Is no reason for this
/ advarce IN corn and It won't hold.
0ATS-Oafs is about the same as corn
b,liled to death It is true that our I'm
/ mediate situation is not good but this is
/ on June 10 made them fair crop. since
/ then we have had lots Of rain and
| This should help the crop material
I ": oulv twice IN the last tan years have