The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-05-03

SIGNALS. who sold short and pressed
their advantage down, to the low point
of the day We're very bearish. They
argue that with any improvement in the
weather in the northwest and they
claim that there are indications of a
change. that wheat will be a good sale.
They are looking for worlds shipments
to be bearish today although the pre-
dictions taking the highest estimates,
are less than the previous week, but
enarly million bushels over last year
and below the weekly requirements. The
most conservative people say that wheat
will be a good purchase on any reduc-
ton in prices from Saturdays close
CORN-The bears in corn say they
see nothing to cover their shorts on
and pit observers say that large local
professional, already short large line,
sold great deal more on the bulge. They
figure the country is still long a lot of
May corn and that when the cash corn
is delivered it will cause them to sell it
out and they are looking for a break
when that time comes. The catered
shortinterest has been reduced but the
big men figure that they will take a
further loss before they will begin to
cover.
OATS-Specialists say there is a very
much mixed trade in their market
Cereal people are buying the May and
July and are said to be large holders
of cash 1ots.-Inter Ocean.
Worlds shipments. Wheat s.144,000;
corn, 3.454,000.
Liverpool. May 3.-Whea. opened firm
Following the opening support developed
the values gained y to 11s. The fact
of heavier worlds shipments than we're
expected caused some realizing. Sup
port was the result of thes trength in
American cables on Saturday f1rmness
OF country markets unfavorable wealth
er in France, continued decrease in the
amount on passage and the report that
a large Chicago house was buying in
this market. There was strike among
dock hands at the port of Buenos Ayres
and this also had a tendency to in
crease bulish sentiment.
Corn advanced Ld on the. strike in
Argentine and f1rrner LaPlatta offer
ings. BROOMHALL-
Chicago. May 5-King Toledo wires:
Kentucky wheat condition 81. April 81.
Last harvest IS, and crop of nine mil
lions. an average corn prospective ac-
reage 100. planting late. crop last year
LOGAN & BRYAN.
Chicago, May 3.-WHEAT-Primar
receipts of wheat last week were the
smallest in months. Stocks of wheat
at all centers where there is any good
supply are being reduced very fast. We
think the meat of the whole situation
was well expressed by local trade wr1-
ter this morning who said: Bulls have
the cash wheat and are getting big
premiums for 1t. while the bears are
selling distant futures at heavy dis
counts. Practically IS per cent of the
wheat being. sold is short stuff, that
will have to be bought back some time"
Outside wheat markets worked even
stronger than Chicago last week. Win
ter conditions over the northwest are
Threatening ti1es pring wheat acreage
because of late seeding. Cold weather
has been against the backward winter
wheat.
We feel that the safe side is to buy
wheat on the breaks.
CORN-FrCm commercial standpoint
corn is very strong. Bad weather has
been against country movement stocks
are low AS an offset there is the GER
tafnty that as soon as the new crop Is
in the ground the country will sell re-
serves more freely and on this theory
prices should have a setback
LOGAN & BRYAN.