The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1909-07-27
Patten Unloads 1000, 900 Bushels on
Market-Corn Scores Substan-
thai Advance.
PROVISIONS QUOTED STRONG,


the most-Sh cents, because of the
heavy arrivals expected here before
the end of the month. September
wheat was Az cents lower for the
week and December and May each
lost Y cents.
An immense volume of wheat Is
now en- route for Chicago with every
evidence that with continued good
weather it will be swelled still fur
Their throughout the balance OF the
month. II Is expected that in the few
days remaining there will be over 81
900, 900 bushels received here, and
it is not unlikely that II will go over
1000 900 bushels. Cash grain men
confidently expect a further wiping
out of the July premium over SeDiam-
Der. Some of the cash wheat men
say that in addition to a big line of
wheat from Illinois and Indiana there
will be large rams from the big mar
ket centers, including Omaha, kan
sas City, st. Louis. Nebraska has
sold some new wheat here and was
ohering more late in the week.
Patten Interests Unload.
The movements of ]. A. Patten in
the wheat pit have been closely watch
ed during the. last week. The big
trader let go a big line 900. 900
bushels on Wednesday. He admitted
that he was taking his profits and
said he believed spring wheat pros
poets were too good for a bull move
ment and that he was influenced more
hy reports from the northwest than
by the prospects of a large move
ment of winter wheat. There was A.
100000 bushels Of the Patten wheat
sold, including that sold by RycrOft
and others who are very close to Pat
ten. The latter took profits on a big
line of wheat, and it was a day of
profit taking by all the leading buH
interests except Armour. Traders
who have been very bullish and who
have followed Patten for months de-
clare it is good specializing 20 secure
profits under existing crop conditions.
and II nothing should happen to the
spring wheat crop and the winter
wheat continues to move freely for
J the next thirty days, there will be
ample time for accommodating a line OF
wheat at about the present prices,
and possibly at a lower level after
the size OF the spring wheat crop is
known. The point was also made
that farmers in the northwest would
not hold their wheat like the winter
wheat producers.
Patten Still a ''Bull."
Despite the unloading of his line
Patten declares he still is a bull, and
declares that wheat will move out of
Chocago as fast as It can be gotten
into store and loaded into vessels
THE wheat will all be wanted" he
said. but I cannot buy II every day"
One result In the break of wheat
prices thus far is better export de-
mand for wheat. Sales TO foreigners
have aggregated about 1900. 900
bushels in the last few days. liberal
percentage of which was from Chi
cago. Many traders see in THE bust
ness a better undertone to the market
They agree with Patten that there
will be a demand for all the wheat
that Is moved In the near future, and
there is likely 10 be a shut-off in Of
ferings from the country, as the farm
er has dollar wheat in view and will
be slow to sell under that figure. In
case he should change his mind ar
become convinced that crop condi-
tons in the northwest are sufficiently
favorable to warrant lower prices. he
might become a free seller, which, of
course, would result in lower prices.
The head OF a big commission house
said they were getting many resting
orders 20 buy wheat on all declines.
as this method of operating has been
very successful for months.
Millers claim that they are not do
ing a very satisfactory business as yet
in -four. They are unwilling to ac-
cept September basis of prices for
flour to be shipped previous to that
time. and are unable TO get business
on the July delivery basis. Prem
iuihS are mc4llHS away Idpiuiyt UOW-
ever and predictions continue that
July will go out next week not far
above the September delivery basis.
Kansas Harvest Reports.
Threshing returns and harvest re-
ports from every county in Kansas
received by a trade paper show an ag-
gregate of S1,7SO,677 bushels There
are thirty counties raising over III
900 900 bushels each. and nine coun-
ties over 1000 ,OGj bushels each. Bar
ton county leads with a production
of 100000 bushels, while Renoi
county is second with $1,000 bush
els. These returns, II is said, are com
piled in such a manner that their re-
liability is assured
The London Statist predicts very
prosperous times for the American
farmer this year. 'The world will
need all the wheat that America can
spare" says the paper. The short
age Of wheat viii assist the farmers
to marekt their bumper crops al good