The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-04-22
morning Grain Gossip.

lturnlSneu OY the IOpek0 tSOdIu OF Thuc'
Chicago. April D. The Tribune: Grain =
The advance in corn the last few days is
regarded as largely speculative as the puo-
lie has apparently ran away with the mar
on corn for two months and who have been
the largest sellers the last two days to Sc
enough for the present and that there
should be a reaction of 4c@5c to put market
f r Ie''e soe tstinr ber9i losses and are
disposed to await n more opportune time
to reinstate their lines. That grain values
are influenced by the laws of supply ana
demand rather than by speculation, has
never been more fully demonstrated than
by the action of the wheat market There
never was a time in which a corner was
more absolute than the food administration
has had. and yet, with all the power of an
limited sSe money! eDe wheat has been Unable to
hold the price down. Strength in the new
crop oat futures Is due to prospects OF q
the largest oats regions Some Of the heavy
traders are long on May and the distant
into the distant deliveries. Oats appear to
be gaining friends daily, and 1t is said
in na' OWING to their being cbeaper than corn.
Stocks of contract corn in public elevators
| in Chicago increased 1000 bushels last week
and are 101, 600. including $1,000 No. B
grades. Contract oats are $4,000, of which
$4,000 are standard and 214000 No. white.
| The total increased $4,000 for the week.
Argentine exportable surplus of old corn is
estimated by the minister of agriculture
, at 81, OO0, 900 bushels. Recent estimates from
Last January INT It was figured as low as
| 25.000,000. Steady rains have fallen in Ar
gentina the last two days and grave fears
are expressed as to the quality of the new
crop. Exporters are taking the old. weevily
corn in preference to new. Rains have
| Difficulties between the farmers and the
| land owners have not been settled and
| should no adjustment be made shortly, its
feared that the new wheat crop acreage
will be reduced. J. H. Barnes, In a state
| ment issued in New York last night. said
in part: Despite the maintenance of the
government guaranteed price in the face
| of probable unprecedented American
| wheat crop. domestic consumers will not
than foreign buyers" He said that little
| inroad would be made on the billion dollar
fund provided by congress.
| persistently reports are received of an
| urgent demand for foodstuffs from all over
the world. This demand is not only for
meats and fats 1t was reported in grain
circles. yesterday that the shipping board
has allotted five additional vessels for the
movement of food to Europe;
New York: April 22SThe Financial News
buIlish and industrial specialties are ex-
pected to act accordingly. A strong up
ward tendency still appears. in American
can Linseed. American locomotive %noe Central
Leather, Corn Products, Marine, Railway
| Steel Springs, Southern Pacific, Studebaker
| anu WI 1OOiS anu DulfluR AueTlcun
| Writing Paper, International Paper. Cont
mental Canada. Goodrich. Keystone Tire,
| Texas & Pacific, U. S. Realty and U. s.
I Rubber. Sharp bullying today may be sue
| ceeded by a reaction in recognition of the
Italian Japanese crisis at the Paris peace
| confer ence. Outside interest in the oil
group is still growing. and pool operations
| generally find a good response. Western
interests and foreign elements are display
| ing aggressive activities. Stocks of the
best properties are expected to work
| higher, but warning is given against the
issues of many so-caIled wildcats.