The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1916-01-06
FARMS OF U. S.


bushels more than the previous year. |
There were 237,O09,000 bushels of bar
ley harvested, which was 42,O56,O OO
bushels more than in 1914.
The demand for cash wheat in the
United States has come largely from
foreigners. While the buying craze of
last year was not in evidence again
the prices paid and the amount to
change hands will never be known by
the public as buyers have requested in
nearly all instances that all transac9
tons be kept under cover. Many mills
lions of bushels of wheat have been
sold to go abroad and the clearances
from July l to January 1, 1915, Will
run about 235, 100000 bushels, COM
pared with 226,000,000 bushels last
year. On the basis of a North Ameri-
can surplus of $50, 100000 bushels old
and new wheat, there are still 225, 00O,-
900 bushels left for export, against
2O9, 100000 bushels exported from
January to July l, 1915
Canada's Surplus, 22O Million.
The surplus wheat in Canada was
22O,0OO,00O bushels and the United
States surplus 24O,O0O,OO0 bushels.
For the 1914-15 crop year North
America exported 435, 100000 bushels
wheat and flour. The North Ameri-
can 1856 wheat surplus will be
pretty well cleaned up, but the spring
demand will depend more or less on
the news from the southern hemis-
phere.
The highest price at which May
wheat sold during the year 1915 was
s167 and this price was reached last
| February. The lowest price was 90
cents last September. The big adj
vance last February was mainly on
craze of buying and actual demand
| from exnorters. The low price
on favorable crop reports and large
yields We're shown by the present
wheat crop in the United States.
/ There have been 10 deals in wheat
on the Chicago board of trade during
1875 as the laws of that organization
not only prevent manipulation, but
there are no more corners" in either
grain or provisions. Every trade in
grain on the Chicago board of trade
| is made under the anti-corner rule
This rule was adopted a few years ago
| and as J. c. F. Merrill. who is now
secretary of the board, was the father
of the amendment to the rule, he is
Hooked up to by the average specula-
tor as having been a great help to the
board and its customers, as well as its
members.
No Corner in Grain Allowed.
Mr. Merrill, in speaking of the anti
corner rule. said:
''An trades made under the rules of
the board of trade provide that in case
of the inability of a seller to make
delivery of grain sold for future deliy-
cry, he has the privilege at its matur-
ity Of asking for the appointment of q
committee to determine the real com
mercial value. The committee is also
to fix penalty of to 10 per cent of
| DANA ges. which the seller must pay to
the buyer for his failure to make de-
livery. AS IN illustration: With Sep
! TENDER corn at z 3 u C and cash corn at
| zoe, with a penalty of 5 per cent add
ed, it would bring the price up to
7S y c, so that there was nothing made
by failing to make good on the part
of the seller in the case of September
corn and those who complain about
the trades being bought in would have
gained nothing by holding out"
The corn market has been a broad
one and speculation active at all
times. While the crop of this grain
as shown above was a large one, the
quality was reported as the poorest in
many years and a bull movement Of
great breadth was inaugurated and
| carried to q safe termination The
country was the larger purchaser of
corn and the price was advanced for
the May future from 55c to S35 c.
Large quantities of corn were caught
by the early frost last fall. following
a long-drawn-out wet spell, and in
many places the corn was ruined out
right, while in others 1t was damaged
so that it is of understandable quail
ity.
Corn Unfit for Stock.
In sections of the northern part of
the belt feeders bought large tracts
of corn in the field at IS per acre and
turned their stock in on it. Reports
from those farms said that there were
many instances where the stock re-
fused to eat the corn because of its
poor condition
Wall street has been in corn on the
bull side, the old cotton crowd of bulls
have speculated in corn on the bull
side and those who have adhered to
the long side of the market have been
the ones to make the money. The
bears have been defeated from time to
time and their losses have been quite
. heavy
There was a wide range in the oats
market at Chicago, the May future
selling between 81 Il and &c. Farm
erS generally speaking, have sold oats
! RELY, but the surplus still in their
hands is liberal and the Canadian
crop is also big and the surplus heavy
! The price of oats on the farm on De
cember 1 was fully Sc per bushel less
than a year ago, but the value of the
phenomenal crop more than overbal-
ances the decline in prices
War Orders for Hog Meat.
The feature of the market for hog
: products was the enormous purchases
of dry salted meats for shipment
I aboard. The demand has been contin-
uous and Chicago has benefited great
! y by the buying power in evidence
from day to day. Lard ruled rather
quiet as compared with the transac
' tons in meats, but on the whole the
lard business was in excess of any-
thing ever heard of in this country
previously The receipts of hogs al
the west were larger than genera IN
: expected and they were also light in
weight. May pork ranged between
S15.05 and Sass; May lard between
$S-s7 Y and s11.60 and May ribs be-
n tween $S-95 and 5000.
d SKATE ON FOOTBALL FIELD.