The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-11-30
November 29th. 1907

November 29th, 1907.
Reviewing the wheat market for the
past week prices show an advanca of
over two cents better than one week
ago. The tenor of the market is
strong. The animation shown by
fluctuations during the past week, in
MY judgment. indicates much higher
prices. After all re cessions or set
backs it rebounds quickly. While nc
me- ial improvem in pri ces Will
be- shown for the present, L am in
cliled to look for higher prices lit
tie late1 on or aftnr the December de-
l.veries have been Enarce ami out Of
the Usy.
~ Chicago CORE spondent under date
of November 27tn writes as follows:
Grain men throughout Europe be-
lieve that wheat in America is on the
bargain counter. They have hardly
money troubles closely and are bent
on buying as cheaply as they can.
There is no chance for them to obtain
adequate supplies except in America
and Argentina and they will get little
wheat from the latter country before
March. Russia. Danubian countries
India and Australia are shipping very
little and will fall many million bush
els short on their last years ship
ments."
Financial conditions are being rap
idly bettered in all sections especially
in the east and during the next 10
days or two weeks I think they will
be on a normal basis everywhere.
The interest in the market is light but
with the public participating, 1 look
for higher prices The crop this year
is Il short one and with a continuation
of liberal exports, 1 think much higher
prices will be the end. I give below
the preliminary estimated yields this
year ard the official final estimates
last year and average for the past five
years:
Blu. 1907. Blu. 1906. Blu. 5-yr. av;
Wheat ... 625 600, 600 735 coo. 600 657, ZOO, 900
Corn .45O 100000 2,927 900, 900 2 SIS, 900, 900
Oats ....... IA 5000 9640O0,oo0 900
Hay .......: $4,000 100000 100000
Corn is holding its own since the big
slump one week ago and prices are
about 1 Il to 2 cents better. A Chi
cago correspondent under date of No
vember 9th writes about corn as fol-
lows: 1.-THE corn market was sharply
higher with cent hogs. The farmer
looks on with delight at their strug-
giles and shows intelligence by refus-
ing to ship his new crop. He does
not intend that the bears and packers
shall dictate prices for either corn or
hogs Pay no attention to the nom
sensical talk about big falling off in
the feeding demand. Hogs and cattle |
are not constituted by nature that they |
can fatten on kind words and sun |
shine. They require corn and plenty |
of it. They are not particular about |
the price,
If the New York stock market is |
good barometer to go by, the actions |
of the market during the past week |
show decided Improvement in prices. |
Particularly tonight the market show
ed its old buoyancy. Prices bounded |
upward with a great deal of animation
and enthusiasm. Aggressive buying |
of the dividend paying stocks was |
supported all along the lists. Prices
went too low. Confidence is being re-
stored to normal basis. While do
not look for continuous advance I be-
lieve the market has seen the lowest
level and purchases on all recessions
ought to make the investor money. |
would suggest buying United States
Steel, Southern Pacific, Union Pacific,
Rock Island, Sugar, Copper and
American Shelters.
VaelxIv Market letter