The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-03-07
Morning Grain Gossip.
FURNISHED by the Topeka Boad of Trade. J

Chicago. March THE Tribune: GRAIN
Traders were disclosed to believe that the
effects of the government report farm
reserve due after the close today had been
discounted by the recent advance in corn.
To some traders corn acted tired while to
others it was regarded as showing unusual
strength. For market to take the selling
of long and short stuff that has been I'M
der way the past four days combined with
the largest covering of shorts that the
trade has known in short time and
hold the way it has, is a surprise An
ed and the market is in shape to follow
good buying or selling Oats are gaining
friends. having advanced out of rut by
getting above the Coo mark for May and
holding there For feeding. oats are re-
garded by distributors relatively cheap
>er than hay which has had a big advance
selling by some of the previous days buy
ers. while the buying was regarded as Of
n better class. Provision men want price
restrictions removed as all others are off.
1t looks to some of the cash rye handlers
as tho the recent order from the Norwegian
government has been filled and until fresh
business develops the export call will be
slow. An immense export business in malt
can be secured for the United States with
long time before continental Europe will
be in shape t. take care of its old custom
ers. American exporters are going after
the trade. Some traders regarded the
strength in the market as rather suspic-
ious in view of the recent advance and the
bearish character of the news. There was
-
much encouragement Country offerings
showed 4 slight increase and some grain
was bought to come here from Minnea polls.
Oats again showed independent strength
and while the best prices were not main
tanned as heretofore selling against offers
on an early bulge and profit taking by
longs the close showed fair gains. Talk
of good export demand at the seaboard
for oats. with Il SAFE of $1,000 bushels there
to complete a cargo had some effect on
sentiment. Neutral goyernments were re-
ported inquiring for cash grain. Heavy
shipments of rye are being made to sea-
board from all points. There has been
100000 bushels ordered out from Milwau-
kee and much of the government rye and
barley that has been held in elevators be-
longing to matters was ordered shipped.
Export bids were out of line. Removal of
the minimum price on hogs and the open
ing of the worlds market for hog products
and the dissolution of allied purcha sin &
commission, making business available for
all exporters created an uncertain feelin e
in the provision market. Government re-
port on farm reserves March l will be
issued today at 10 2; m. Estimates on
corn range from S25. 600 coo to $4,000, 900
or 31.4 to 81 per cent Of the last crop.
Last years was 1 253 00O,990 as revised or
300 per cent and the five year average is
9SS, 100000 or 35.5 per cent The lightest
in years was A., 100000 or 29.1 per cent in
1902. Estimates on wheat reserves range
from SS.705 600 to 123 100000 81 to 49,
per cent. Lest years 101 .T45,000 or 1913
per cent. Oats '4S5, 600 900 to jG2. 900. 0O0
or 31.5 to 36.6 per cent compared with 500.
POS 900 as the revised figures or $40 per
cent last year. There will also be estimates
on the quantity of grains shipped out of