The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-02-29
the grand array of bu1lish

reiterate the grand array of bulIish
statlstics In last letter, nor call atten-
ton to the conclusion: Wheat evident
" pounding on the bottom All the
next" No credit is claimed for that
prediction, for a child could almost see
1t. II wheat isn't a good purchase AZ
ter 2zc decline it evidently never is
southwest bought it literally from 01c
up ana now have fat profits to their
credit 1t was like buying gold dol
lars for sec. There's strong talk Of
dollar wheat again tomorrow. If so,
1t Will only be getting back home once
more. Should have never dipped below
the dollar mark and doubtless wouldn't.
but Tor the large plungfng operations of
some Chicago big men.
from wheat standpoint the whole
world except one spot, Argentina. has
q strong bullish complexion. South
Russian prospects still doubtful and
Russia's shipments dwindling down to
small point. less than one-third Of a
year ago: has but little wheat to spare
now. Australia exported only 5000
bushels last week and India none Ar
gentina's big shipments soon be a thing
OF the past. Ports there crowded re-
over the world.
Wheat visible in this country and
Canada decreased over 1000, 900 bushels
last week. Receipts at principal west
ern points getting pitifully small. Min
neapolis, Duluth, Chicago and Kansas
City get only 225 cars today. The wheat
isn't In the country. Farmers are about
cleaned up. Primary receipts only half
what they were a year ago. Kansas
hasn't over Is per cent of last cron on
hand. Wheat stocks in the Northwest
particularly Canadian Northwest. ex-
traordinarily light. Cash wheat in sharp
demand up there, Sc premium over Nav
and millers bidding lively for it. A long
t.
critical March period of thaws and
freezes now before the winter wheat
Many Hessian fly reports from Kansas
and Oklahoma. Our recent market let
fire any day now and it has. rising
about &c and burning I'D the reckless
short sellers money.
Annual government report OF. farm
reserves, Monday, March 9, and there's
a forecast now that it will show the
smallest on record. If SO, look out for
more fireworks. Thousands of people
will doubtless be buying wheat soon.
not as SPECTATORS, but as shrewd, con-
sentative investors, realizing that if is
very cheap on its merits and If held
long enough will pay a handsome profit.
CORN-Corn kept up its record for
strength, closing today within &c of
highest point touched for many months
and 2Ac above a week ago. Statistical
ly, the situation is still very strong.
Even Armour, with all his ruiiIions
who is reputed to be a big bear, couldn't
keep it down. On every dip 1t rises
stronger than before. The forthcom-
ing government farm reserve report is
expected to show only about one bill
lion bushels on hand. A year aso l.
2sS, 900, 900, or A per cent of the crop. a
recordbreaker. Largest previously was
1,1s4, 000, 0o9 in 1897, percentage of 81.
Smallest in 1902, total Az, 900, 600 and
percentage 20. An Illinois estimate to-
day says only one-third of crop in farm
ers hands VS.. 30 per cent a year ago.
Kansas said to have not over 1e per
cent, and Nebraska not over 25 per cent.
Stocks extremely small everywhere.
Only 1876 cars estimated for Chicago, st.
Louis, and Kansas City, Friday. A big
DECREASE daily from a year ago. Only
n million contract corn in Chicago.
Corn looks like an easy winner on the
bull side Respectfully.
THE CHRISTIE GRAIN co.