The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-04-14
Morning Grain Letter by Wire.

| FURNISHED by Logan and Wolcott. Grain
Commission Merchants, Rooms so ana
30S Commerce Building, Members Chi
cago and Kansas City Boards OF Irade-I
Chicago. April 14.-Many traders in
wheat have been kept off the buying
side by the visible, which shows 34S0o,
600 against 27,100,000 a year ago. They
forget that all authorities, now agree
that wheat back in farmers hands is
practically exhausted and that the bulk
| of our available supply until new crop
| is represented in the visible. Looking
at the situation from a different angle
there is so small wonder that the wheat
markets have assumed runaway pro-
portions. From today until July as
Stunning new wheat will be available on
! that date, we have rs days to go Our
own consumption, figured on the OASIS
| of LIPS, 900 bushels per day, will amount
to 97.500,0O0 bushels or about 63 million
| bushels in excess of what is in the VlSi-
| ble 1t is believed stocks in mills hands
| are very small This belief is borne out
| by the tremendous premiums MIXERS
| are now paying for wheat all over the
country Now, the question is, II as
seems to be the case. mfllerS stocks are
at best only medium the invisible sup
ply or amount in farmers hands, well
nigh exhausted, have we not run into
| the danger of an actual scarcity be-
tween now and the time the new wheat
will be available. Bear IN mind we
have not figured on any export bust
mess at all, nor in any way figured on
| the foreign situation or the require
ments which are acute as evidenced by
the strength for the past ten. days. IT
seems to us the above will furnish food
for thought for the bears and all skep-
| teal as to the merit back of this ad-
vance in wheat
| Liverpool Market stead at opening
unchanged later shorts covered on
prospects of continued light shipments
/ this week
broker tells he has bought 800 barrels
| flour in Kansas to come to coast and
| has dollar per barrel profit on 1t al
ready Local mills are running short
! time because no wheat to grind
| Chicago April 14-WHEAT-The sit
nation is unusual and decidedly bullish
in many respects. What further reac-
| ton prices are entitled to either under
nrofit taking or short selling no man
can guess at this time. but we believe
that the public and strong local inter-
ests will be found on the buying side
of all the new crop months on any fur
Their breaks.
CORN-Local professionals are divid-
ed on the corn market at this level
Specialist in the trade agree that with
livery light receipts and fair shipping
land export movement no important
change is likely to occur.
LOGAN & BRYAN.
sylvan Grove Kan, April 14.-"In
! east counties wheat is good. No rain
in two weeks here; getting dry. Cold
| weather making growth slow.-John
Inglis.
| iowa crop bulletin-The average
F, condition of winter wheat is said to
| be below the average for this time OF
| the year but the spring growth has
not been sufficient to permit an ac-
curate estimate of the condition being
| made The cold and stormy weather
in March has continued thus far in
| April and has prevented the usual
amount of field work being done.
There has, however, been a great deal
| of sod ground plowed up and a good
start made in the southern counties in
| seeding oats and spring wheat, and If
| the weather continues favorable this
work will become general in all parts
| of the state during the coming week.
| The season is from ten days to two
| weeks later than last year, but the
| soil is in excellent condition with an
abundant supply of moisture, SO that
| the growth of all vegetation will be
rapid with the advent of warmer
weather.
| Chicago, April 14.-The strength
| shown by wheat of late and the alb
normal advances in that cereal have
set the speculative world on keen
| edge. orders are being received from
every section of the world where grain
speculation is understood. Nearly
| everybody believes in the future of
i wheat and the buying orders outnum-
Der those on the selling side by the
one-sided score of 10 to l.. The bears
have had no chance to make a dollar
lfor long time, save in quick turn