The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-05-28
Morning Grain Letter by wire

Morning Grain Letter by Wire
FURNISHED by Logan and Wolcott: Grain
sos Commerce Building. Members Chi
cago and Kansas City Boards OF Trade.i
Chicago, May 2S-WHEAT-A large
percentage of late gossip on wheat was
bearish last night Traders say that
they see little in the domestic situa-
ton that has not been threshed over
many times and they are talking lower
prices, because June is at hand and
crop prospects have improved of late
and 1t is a very poor June that does
not see more or less break in prices.
Professionals say that some of the
most enthusiastic bulls who have been
good buyers of late sold part of their
holdings yesterday and that the leading
bull interest here supported the July on
the breaks. The Armour people and
their following are bullish but the rank
and file of traders are bearish
CORN-It is said that a large western
Spectator, who was much interested in
the September corn deal last year and
unloaded in the last hour, is now the
largest long in May corn. He was tell
take in the cash corn, and there was
$4,000 bushels delivered to his brokers,
with prospects in the next two days
that 500 900 bushels more would be de-
livered.-Inter-Oc Ocean.
Chicago, May 2S.-John Inglis writes
us from Sikeston, Mo-: Southwestern
Missouri has some very fine wheat In
Scott county some is past the bloom,
others only coming into bloom. Range
Of yields will run. from 10 to 30 BUSH
els if it fills we'll. In Perry and Cape
Girardeau counties much of it hardly
worth cutting. Taking the reduced
acreage into consideration, and en-
bracing all the southeast counties, 1t
will not equal last year. Corn planted
with a large acreage. With favorable
weather will cut by June Goth. This is
very late A few thin fields south of
Charleston may be cut by June 10th. =
Logan & Bryan.
LIVERPOOL May 2S.-WHEAT-Wheat
opened easy. I'D lower on heavy ship
ments from India this week and ex-
pectations of continued liberal ship
ments from Russia Futher rains re-
ported in Germany, Hungary and Italy,
where needed and European crop adj
vices generally showed Improvement.
During the morning the nearby months
advanced under covering by shorts
while the distant months responded IN
a Iistless way. May shorts were nerv-
ous and offering in July were light
CORN-Market quiet and firmer on
disappointing Argentine shipments.
Australian shipments for weeF. 200.
600 against $4,000 last week and 100000
q year ago ,.ooo
against 56S. 600 last week and nil a year
ago.
rachee India next week at e44 600
Argentine shipments: Wheat 1,776,000;
corn 2795, 000
Visible wheat 1104. 900 vs.. $50 enn last
week and 224S, 900 last year; corn A.
SIC. 900 VS.. 4,S75, 900 and 2,616,oo0.-Broorn-
hall.
Chicago. May -wHEAT-There is
a streak of bearishness in the wheat
trade. It is due partly to somewhat
improved crop talk mostly of the seen
cry order. It is due in part to the fact
that shorts IN May made no effort yes
terday to cover in a way to advance
prices. There is also a Telling in the
trade that somehow after May con-
tracts end there will be something of
a letup in the bull strain which has
been felt in the market for some time.
This is mostly theory and not well
founded When May wheat is out OF
the way, the gap between cash and
July wheat will look greater than ever.
Either cash prices must come down or
July must work up and take the place
of MAY contracts. No one knows what
Kansas will raise. We are inclined to
follow the advices of Mr.. Inglis whol