The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-04-08
Morning Grain Gossip.
FURNISHED by the Topeka Board Of TradeD


Chicago, April s.-The Tribune: GRAIN
Government report for April, the first
since last December, giving the condition of
winter wheat, is due in Chicago at o'clock
today. 1t is expected to show the highest
condition for winter wheat and rye IN
vars Estimates are for S97 100000 to $780,
100000 bushels based ON allowance for de-
terioration to the end OF the season, ana
T97, 100000 to 1925, 000,0 600 bushels on the
governments method of allowing for de-
Harvest last year was SIS, OoO, 900 bushels.
Private figures on condition are 9o.e 10
$50 per cent In April last year foR Wns
$50 per cent. In april last year condi-
ton was 1876 per cent and crop 56O.O0O.0OO
bushels. The ten-year average condition
is s2.3 per cent. Rye last December was
80 per cent and last April sos per cent:
It's the belief of those who have watched
that the future course of values will de-
pend largely upon that of hogs. Should
the latter remain around $40 and above 1t
will require heavy and continuous hedging
pressure to depress and hold corn values
down. In case of a bad break In hogs anu
good arrivals of corn, with a liberal selling
pressure, a lower level for corn would
seem reasonable. Mondays corn market
was a great disappointment to those who
expected the early break to hold, as coun-
try offerings were said to be liberal and
hedging sales against them necessary, as
there was no demand for corn from ship
pets or elevator interests except for few
ent, and cancellations of No. yellow were
reported at equal to $1.561a. st. Louis car
ried over 90 cars and Kansas City 10 cars
unsold. July corn has been above $1.50
and down to $40 seven times of late. TO
the minds of those who consider such
fluctuations it means that any time the
price gets above or below these levels 1t is
likely to move more rapidly.
/ Oats are gaining friends and showed in
dependent strength yesterday. Local shorts
who have been active in selling on all
bulges of late were among the best buyers.
May acted tighter and responded to buy
ing. better than of late, Stocks here are
600 bushels compared with 19,037 COO last
year. Buffalo stocks are disappearing.
Contract stocks here are only 6OI.0OO
bushels. Winnipeg is bearish on oats.
Their stocks are 100000 bushels and the
west is selling more. Operators there pre-
dict larger accumulations and reeeding
values. One of the reasons for interior
dealers trying to sell cash corn they hold is
that the termination period is at hand. and
the grain VIII require careful handling to
prevent getting out of condition.
Herald Examiner: The corn trade is in
clined to await new Developments before
entering deep speculative waters again.
The trade is switching into September.
New York, April S.-The Financial News
Bulletin: STOCKS-WhiIe ANN. Init. may
not continue to rise sensationally, we think
it's entitled to sell at higher prices, and
have reasons for believing that reactions
will encounter well informed buying orders.
| Higher dividend rulnors may or may not
be true, but absorption is based to large
extent on Information that the company
faces a great expansion era and that the
acquisition of many peace properties at
war prices during the past three years is
| going to bring big profitable results, as
| stated in our Special analysis on the stock
March 1. Attention is being directed to
| the statement that one of the most power
full uplifting factors in the industrial list is
| the evidence, disclosed by Investigations,
| that the large charge offs made in 1918
| by many CORPORATIONS are ultra conserva-
\ tive and conceal some valuable equities
whose potential value may be converted
| soon into activity, justifying much higher
| prices for securities.
There is good buying of the coal stocks
| on the prospects for large export move
ment due to the fact that the price of
| british coal at the mines will soon be IS
a ten as against $3.50 for American coal
| at the Atlantic seaboard. Something that
| suggests the world demand for United
| States bitufhinous will be enormous later
| on. The new peace crisis i'll Paris may
cause some profit taking, but we do not
| believe the United States senate would
| permit Wilson to effect n separate peace
with Germany. so that his alleged warn
| ing TO the allies is probably bluff they
will call. Bull trading operations are likely
| to continue in the market. and the most
| profitable position would still seem to be
ward trend is distinct in ANN. Fly, ANN.
| Init, Is. L. o., Inpn., Pan. American,
| Pete. Ry. Steel Springs, U. s. Rubber and
Marine Pfd. Pool sources are bulling Adj
vance Rumely. ANN. Sugar. Calf. Pkg,
| GenI. Cigars, Cuba Cane, Haskell and B.,
Enamel. Royal Dutch and Va. Chemical.