The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1915-11-29
PRICE OF WHEAT JUMPS
IN ALL AMERICAN MARTS
Wheat Leaps
as Markets
Are Opened

Chicago. Nov. 2e.-Wneat
jumped in price today as a result
of the Canadian government
seizure of 100000 bushels
Predictions, however. that a five
cent advance would be added to
values here right at the start
were not verified. the extreme
opening changes being to 70
cent.
The market here. opened ex-
citedly, with December delivery at
$1.O5 to $1.06, as against $I.0312
at the close Saturday and with
May at S1.07 to S1.0S15 as against
$1.O6GD 1868.
Commission houses and shorts
were the most active buyers
Sellers were scattered. although
one of the largest firms boldly
took the position that the action
of the Canadian government
meant that Canada was to have
preference in filling foreign re
quirement and the result will be
falling off in export business from
the United States.
Reactions from the initial top
figures quickly took place and the
market became a broad general
one with feeling decidedly nerv-
Gus.
Bulls were to a large extent
held in check by opinions indus
triously circulated that the Eng
lish government PROBABLY would
do all or nearly all of the Brit
ish, French and italian business,
and that United States exporters
would be virtually put Out of
business, at least On any material
advance OF prices
After sagging a little further,
the market tightened again as the
view became more prevalent that
an enlarged demand on domesticA =
stocks of wheat might be ulti-
mately unavoidable. This pros
pect was confirmed to some ex-
tent by announcement just before
the close that export sales for
shipment by way of the Gulf of
Mexico had been made today
amounting to 100000 bushels.
Closing prices were firm, Il to
23s @21s cents net higher. with
December at $1.05A and May at
$108k.
Active and Higher in New York.
New York, Nov. 29.-The wheat
market here opened active and
somewhat excited today with
prices from 112 to 2 IL cents
higher. owing to the action of
Canadian government in COM
Wandering wheat.
Cpturn i'll Minneapolis.
Minneapolis. Mimi, Nov. %
Wheat took an upward turn here
today in consequence of the ac-
tior yesterday of the Canadian
government. December opened
days close. May opened at
$1.O31a to s1.O4, 1 u to l " cents
above Saturdays close.
VAuis
ST Louis, Nov. 29.-December
wheat opened on the Mer-
chants exchange today at an ad-
vance of Is to IS cents and May
at an advance of q to y cents
The quotation on December was
$1.O31z to 15c and on May s1.O7
to $1.07 y.
In the first hour December and
May dropped back to an advance
of one cent and &c, respective
Iy, on Saturdays close.
No FURRY at Duluth.
Duluth Nov. 29.-The local
wheat market opened half cent .
up at 90 cents advanced 1Ac and
then eased off &c. May opened
Ac up at S1O3 advanced 1c more
and then eased off Sc
Upward Flash at Kansas City.
Kansas City. Nov. 27.-Differ-
ence of opinion as to what erect
the Canadian government Selz-
ure on wheat in eastern and lake
terminals would have on the ex-
port market held the market
for wheat futures with
narrow range at the open
ing here today. December
wheat, in which practically all of
the early trading was done, open
ed at 80 cents. a rise of 2 IS cents
over Saturdays close, but quickly
settled back to SO and held at
97H to SO for the first hour. The
opening five minutes was excited,
but after that little trading was
done.
May wheat also opened up, the
first quotation being 2 cents above
Saturdays close, but reaction took
place almost Immediately and the
price steadied around S1.01.
Traders here held widely differ
ent opinions as to the effect of
the Canadian governments action
Many of the chief exporters de-
clared they could see no reason
for its effecting the general mar
ket. since the amount of wheat
taken over was such a small per
cent of the visible supply.
Topeka Market Not Affected.
The communicating of 10000
600 bushels Cf Canadian wheat by
the British government has not
affected the local cash market.
according to Topeka millers- The
option market in Kansas City
opened two cents high today, but
unless it remains there or goes
still higher the situation will have
no bearing on the market here.
ION account of the extremely
small amount of steamer space
V al a b | e for transportation,
American millers have been un-
able to move out any considerable
portion of the grain in this coun-
try available for export" David
Bowie of the Page Milling COM
pany pointed out this morning.
For this reason ii is doubtful if