The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-06-12

FURNISHED by Logan and Wolcott. Grain
sos Commerce Building, Members Chi
cago and Kansas City Boards of Trade.1
the gossip last night among wheat
traders that July has had break
enough and that it will be due to buy
on any further decline for small up
turn and September is oversold. Some
traders who were out on the curb fig
ured that the Armour house has any
where from six to ten millions Of Sep
TENDER bought and as much Deem
Der sold. They did about a five hun
dred thousand bushels turn each way
is showing some congestion as the Pat
ten house is carrying a big line, they
are friendly to the buying side on all
breaks. July has been sold heavily for
week and is SIC nearer September
than at the close week ago. There
has also been a decline In the premium
for July over the deferred futures in all
Of the other wheat markets. Some of
the traders last night were predicting
that July would do to buy at the open
ing today and expected that shorts
will want to cover. '--s
CORN-Country spectators in corn
took profits on July and September on
yesterdays bulge, half dozen Of the
houses who cater to the outside trade
leading the selling and at 20 cents
bought over a half million. Country
spectators seemed disposed to take
their profits in July and replace with
september at nearly 8 cents discount
A corn specialist in explaining the ac-
ton of the market said that a number
of local professionals had loaded up on
the bulge and sold out on the break.
Opinions on corn last night were
mixed. A few Of the commission
houses told their clients to buy corn on
1y-fb n, -1,;I i
the selling side on all hard spots was
the safest. A smart sprinkling of bears
was found last night. AS one man put
it as the crop nears maturity, buyers
are likely to show less anxiety to sup
port the market and weak spots will
be seen. They advise selling on all
bulges as they saw evidences of coun-
try selling of September oats.-Inter-
Ocean.
Chicago, June 12.-WHEAT-The
most important question which con-
action in cash prices. Hard wheat
prices have dropped back 8 or cents
at Kansas City the past couple of days.
1t may be that some concessions have
been made in the price in selling lib
eral quantities of wheat here to out
side mills In general way the cash
situation is still strong and wheat
raisers have high ideas In regard to
price for the new crop Shipping sales
yesterday were 10, 900 bushels. Bad re-
ports continue to come from Kansas
counties. We believe the market is in
a healthy position for buyers to take
hold of any and all months on any fur
Their depression.
over the big corn states short sellers of
corn will be in trouble again. When
cash prices take a drop the country
stops selling. Stocks have not accum-
ulated as expected; Shipping sales
yesterday 100000. With perfect condi-
lions for the growing crop and heavy
sales of reserves by the country the
selling side of corn might be safe.
without these conditions the market
for the present will be buy on breaks
OATS-No important decline need be
looked for until the crop makes much
better progress than at present-Logan
& Bryan.
Liverpool, June 12-WHEAT-Mar-
ket dull. steady. It is expected that
the worlds shipments this week will be
heavy and reports from Russia con-
firm a favorable outlook in the south
west. The market was Influenced by
the weakness in Chicago July. Toward
covering by shorts. Spot markets
steady.
CORN-Market steady.-Broomhall
Chicago, June 12.-Minneapol1s wheat
stocks decreased 100000 for one day.
Estimated worlds shipments, wheat.
10, $4,000
Northwest cars, Minneapolis, 10; Du-
luth, s; Winnipeg, 100; against IS year
ago. Minneapolis year ago 1874; Duluth
year ago 16.
Chicago cars today: Wheat 4, grade
o; corn, PIG, grade 1S1; oats, 100. grade
II.
Illinois. Indiana. Missouri. Michigan,
Wisconsin. Iowa. Nebraska and Kan
sas-Unsettled weather with showers
tonight or Sunday.
Minnesota and South Dakota-Part
cloudy with probable showers tonight
or Sunday.
North Dakota-Part cloudy tonight
nd Sunday