The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-05-20

late gossip after the close last night,
there was a great deal of bull talk on
wheat. One trader said that the local
crowd after opposing Patten in his May
operations, and having failed in their
attempts to depress July, are now bull
ing the market for him. Privilege trad
ers say that the leading bull houses
have been the largest sellers of
downs for the past three nights and
are willing to take wheat on the de-
clines and sell 1t back to the crowd
the bulges. One of the largest pit trad
ers, in illustrating the nervousness of
the market, said that July advanced
half cent while he was trying to buy
100000 bushels to cover his shorts.
CORN-Sentiment among corn trad
ers has never been more mixed than
now. Attention is called to the inabil-
ity of the bears to hold prices down
understanding the improved weather,
reports that sellers were busy all over
Illinois and a good part of Iowa and
that at a few of the stations in Illinois
farmers wagons were lined up at the
elevators to unload corn.
OATS-Those who are bearish on
| oats cannot understand why the crop
| in Nebraska and parts of Illinois is not
showing up well. Reports are coming
| in from Iowa making the condition IS,
Nebraska, 20 to 80 and Illinois, so to
| IS. In June last year Iowa was 81, Hi
| nois. So and Nebraska 81. Seventy-five
| per cent of the reports, from Iowa sug-
| gest reduction of to 10 per cent in
: the acreage r. st. 5l- as- .z--
HOGS-Hogs are coming from all
quarters and the country seems appre-
henSive that the June run will cause 4
big slump. That the country has lit
tie confidence in the permanency of
current values is evident from the
frantic manner in which growers are
cashing in. Those who have planted
their corn are rushing hogs to market
with the object of stealing a march on
the other fellows.-Inter-Ocean
Kansas City, May 20.-Reports from
Kansas and Oklahoma say recent rains
have given corn excellent start. 1t is
up in all territory south of central
Kansas; earliest and largest acreage in
years.-Logan & Bryan.
Northwest. cloudy. cool: Chicago.
clear. fine.
Chicago, May 2o.-John Inglis wires
us from Harper, Kan, as follows:
Western Oklahoma bad heading, does
not cover ground; southern Kansas
better but not good. logan & Bryan.
Cincinnati, May 20.-Weather past
week has been more propitious for the
advancement of growing crops and for
the prosecution of farm work. Winter
wheat has made decided improvement
and is now regarded promising in
central regions. Portions of Kansas
where rain was needed has been fav
ored with showers which have improv
ed the situation. Reports received are
most encouraging since spring began
and with continued favorable weather
the growing crop is regarded with
hopeful expectations. Reports on
spring wheat indicate, seeding near
completion. Outlook favorable.-Price
Current.
Argentine estimates, wreat 1900 900;
corn 100000.
Liverpool. May 2o.-wHEATEWhea
opened firm, shorts covered. Strength
due to expectations of light shipments
from Argentine and insignificance re-
receipts from Australia this week and
the strength in America yesterday. The
NPrussian official report is bullish. Spot
and country markets firm and a good
demand reported from continent for
nearby stuff.
CORN = Half pence higher on
strength in America, scarcer La Plata
offerings
Prussian crop report winter wheat
condition May Is, 81 per cent against Sc
last month and so per cent a year ago.
Winter rye 6s VS.. 68 VS.. rs. Oats "A vs.
rs.
Chicago, May 20.-WHEAT-Market
opened with very light offerings There
seems to be but one thing to do while
the cash demand continues and that is
to buy July wheat on all the breaks
There appears to general commission
house buying of wheat going on.-Lo-
gan & Bryan.
Chicago, May 20-WHEAT-Pit ex-
perts claimed after the close yesterday
that the local shorts were fairly well
covered and that some of them had
even taken the bull side of the market
The advance of yesterday was largely
due to the overselling of the day before
and to foreign bu1lish crop news. If
| the Argentine estimate, due this morn
ing, is bullish 1t is likely to offset any
selling in the way Of profit taking on
the hard spots It looks like a good
| fighting market around this level with
the high cash wheat prices fast de-
creasing stocks in all quarters and
doubtful winter wheat harvest. all on
the side of bulls who have the patience
to get In on the breaks when the mar
ket really looks the weakest.-Logan &
Bryan