The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-11-16

| building. Topeka Kan.1
The wheat market during the past
week has been an interesting one for
spectators and grain dealers. The
market has been sensitive, Snappy and
full of ginger. The excellent showing
of activity was due to the improved
cash demand. In all parts of the coun-
try better business was reported both
on shipping and export account. Up
to yesterday greater advance had been
made in English markets than in this
country, Liverpool at one time selling
as high as "a cents over the price of
wheat at Chicago This is the greatest
spread between the worlds greatest
wheat markets that has ever been re-
corded before, where the Liverpool
market has sold at such big premium
over the Chicago market.
Wheat is cheap enough and well
worth the money and the farmer in
his present financial condition will
have something to say about debating
the price for his products, but the
financial situation among the banks Is
still factor to atch carefully. and
might say-it is the key to the situation.
A Chicago correspondent under date of
November writes as follows:
"Statistically-an that means legitf-
mately-wheat is in a strong positio n,
but with currency scarce article and
commanding a premium and the gen
eral tendency everywhere to reduce the
value of everything, much dtfhculty Is
to any great height at the present
aOf course, there are good prospects
for this later on, because there is a
shortage of wheat in the world, and in
all Is grains in this country. Should
anything of a disastrous nature hap
pen to the Argentine crop, which is the
only hope of the importing countries
prices would advance regardless OF the
financial stringency.
.Just now there are two sides to the
market, and around this level VIII
probably be the battle-ground. The
hardly seem to warrant purchases ex-
cept on the weak places, and selling to
secure profits on sudden advances.
+ Corn was depressed all through the
past week due to the cold fine weather
favorable for curing the crops. since
the government report was issued over
100000 bushels of short corn have
been crowded onto the market. These
sales have mostly been made by New
York pIungers. Receipts are very light
at all primary markets of the country.
Farmers are not disposed to sell be-
cause they know the quality OF the
corn is too poor and too soft to grade
on contracts. 1t will take several
weeks of favorable weather to put new
corn in condition to move. AS no sur
plus has been carried over from one
1t is not difficult to ascertain the con-
sumption of corn for one year.
Figures given herewith are from
March l. 1906 to March 1, 1907:
= Bushels
On March 1, 1905, farmers re-
serves were !, IVo, $1,000
The 1905 crops final yield. ,927, 1000
Total Observation-Disclosures. a i0S5, ZOO
Deduct farmers reserves
March 1, 1907 .........-.....-.1Z 5o,OO.VVO
Home consumption one year. q 737, 900, 900
Government estimate for 1907
crop Nov. Sth. 2 sos, 900
There is no question but that con-
sum ption between March 1, 1907, and
March 1, 1908, will be heavier than in
any previous year, caused by the high
prices of provisions, bran. mtddlings
and new uses Old corn is selling in
Chicago from 60 to 81 cents and this
is from the biggest crop ever raised.
AS May corn is selling much below
this. it gives distinct advantage to the
buyer, and advise purchases of May
corn while the market is temporarily |
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