The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-05-24

Chicago, May 24.-WHEAT-Kansas
crop reports have cut more figure in
the wheat trade the last week than any
other influence Friday they gave evil
dence of improving as result of re-
cent rains, but late Saturday the trade
was startled by the announcement that
the Santa Fe railway estimated the
wheat crop at so million bushels. 1t is
so low as compared with previous in
dications that the trade is a little slow
in believing it. One of the best posted
traders, who has been very bullish on
wheat, said that a great deal of the
crop damage and many other bullisn
factors are represented in the present
high level of values.
CORN-All the cash corn people as
well as the spectators were never
more uncertain as to the extent of the
movement of corn in the next few
weeks Those who are inclined to the
bear side say that farmers are selling
freely and they are making good pur-
chases at country stations and predict
receipts of more than 400 cars day Tor
the next few days. 1t is claimed the
seventy cent corn has been disposed of
and that it will take from 70 to IS cents
to bring out a big run.
OATSSpecialists are puzzled at the
action of the May option. They figure
that two large elevator concerns re-
Gently bought over three million bush
els of May and sold the July at 61a
cents discount. The past few days
prices have been moving upward with
these two concerns doing the -selhng
and a large commission doing the buy
ing-Inter-Ocean.
Liverpool, May 24.-WHEAT-Mar-
ket opened firm I'D to asd higher on
firmness in America on Saturday ana
private reports stating unfayorable
outlook for the Kansas crop. Shorts
. ND covered fr6R1V and
with offerings light, prices further
gained sd to sd. Worlds exports
smaller than expected, country market
continues firm, good demand for car
goes and private reports now connrm
orr recent cables that the rains In
southwest Russia were only partial and
more is wanted.
CORN-Marlet quiet and dull
BroomhaI.
Is any wheat of Importance left in the
country it is hard to understand why 1t
does not move to market at present
prices If the wheat is not in the coun--
try. then the present bull position and
high prices are justified The bull
leaders in the May are selling to all
bidders for wheat, probably sold On an
average of 100000 bushels a day last
week and yet the price moved up
cents Liverpool cables strong this
morning. Good authorities estimate
small crop in Kansas. Prices at all
outside markets advanced more than in
Chicago last week. Making allowances
for natural reactions. after severaf
DAYS, advance. we believe the market
buy for any of the new crop months
CORN-It is said that receipts may
run anywhere from 300 to 500 cars a
day for time while farmers are SELL
ing from reserves as they usually do
inst after the new crop is planted. 1t
will take a lot of corn next month to
give Chicago even normal stocks. In
anticipation of this movement con-
servative people are taking the selling
side of the late months but 1t will be
no snap to sell short so long as No. 3
cash corn is over the May price and
the July and September at several cents
discount under May.-Logan Bryan
Chicago, May. 24.-John Inglis wires
us from Hutchinson, Kan: Forty
counties western Kansas lost and
abandoned, acreage small, balance
wheat very poor Toward central coun-
ties spots showing heads. Wheat snort.
promising small head. Weather good.
John Inglis wires us from Kansas
City May % as follows: Before max
ing any forecast of yields for Kansas
desired to see central and eastern
counties. Today expected to find good
wheat, especially along the Kaw. but
the same general character prevails all
over the state. 1t is unusual for me to
make a preliminary estimate before
wheat is headed but from the few
al - ~ ffcf1 fao led ny