The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-01-11

which shows its great recuperatiye
power. When below 81 then, the bears
boosted it was down to stay and many
began talking es90c wheat It soon
crossed the dollar mark on the upward
journey and not back near it since, AMI
1t got close to high point touched dur
ing the big bull movement last fall.
which was checked by the financial
panic. Believers in SIPS wheat, or high
er, are still plentiful, and backing their
faith by their works, buying on every
dip. Patten clique probably long about
10000, 900 or more and holding for at
least s1.25. Clearances to Europe con-
tinue big around. one million bushels
adi1y Should it keep up we will be
cleaned out of all our spare wheat long
before new crop is ready. Only very
high prices will check the demand and
then perhaps only slightly. A Russian
continues and crop conditions bad as a
week ago. No snow covering. Supplies
very light Almost same reports from
Austria, Hungary. Roumania and Ger
many. midas remarkable dreuth con-
tinues. If no decided improvement next
week, the foreign situation may be a
gloomy one, and look out for booming
Liverpool market. The Chicago bulls
said some weeks ago that the big do
ings" in wheat would hardly begin till
after the middle of January and then a
runaway market might start which
would perhaps land wheat up around
S1.40 during the spring. The way 1t Is
holding so very strong within a few
cents of the top, lends considerable
color to their predictions. On every
setback of a cent or two, millions of
bushels are bought by strong people.
Domestic situation also strong North
west stocks very scarce anG supplies IN
farmers hand scanty. Only about one
fourth of crop on hand, and Is per cent
needed for seed. Although weather fine,
cars plentiful and prices high, ship
ments to market centers extremely
light. Experts say they hardly ever
knew northwest. situation to be so bull
ish Millers up there buying wheat
down in this territory. Southwest re-
ceipts also very small and no prospect
of an increase. New winter wheat look
ing good. but it has it smost critical
period to go through Any serious
damage to it would set the wheat mar
ket on fire But the sharp foreign de-
mand alone, should be sufficient to DO
that Broomhall. estimates Europe will
need 10 millions week this year. Get
ting nearly 100000 weekly now, and
this country ships. fully three-fourths
of it. fser 81
CORN-Corn like wheat, closed vir-
tually the same as a week ago and the
variation half as much. or 114c- Conslo-
cradle of q scalping market, with mucd
backing and filing, but shrewd PIT op-
servers say the buying is much better
than the selling. The new May recently
touched Sc &c rise from the low point
a few weeks ago, and today's close is
within 1c of the top, which shows how
strongly it maintains its position. The
Patten crowd is also long several mil
lions corn and Zoe is predicted Ohio
state crop report, condition of corn In
crib and shock is bullish. Quality very
Door. Same reports throughout the
west. Receipts continue extremely light
and less than Az millions in visible sup
ply. Liverpool prices are strong, ex-
ports increasing and nothing to justify
selling it. Respectfully,
THE CHRISTIE GRAIN co.