Meanwhile he was making money. As he had predicted, the price of wheat had advanced. May had been a fair-weather month with easy prices, the monthly Government report showing no loss in the condition of the crop. Wheat had gone up from sixty to sixty-six cents, and at a small profit Jadwin had sold some two hundred and fifty thousand bushels. Then had come the hot weather at the end of May. On the floor of the Board of Trade the Pit traders had begun to peel off their coats. It began to look like a hot June, and when cash wheat touched sixty-eight, Jadwin, now more than ever convinced of a coming Bull market, bought another five hundred thousand bushels.

This line he added to in June. Unfavorable weather⁠—excessive heat, followed by flooding rains⁠—had hurt the spring wheat, and in every direction there were complaints of weevils and chinch bugs. Later on other deluges had discoloured and damaged the winter crop. Jadwin was now, by virtue of his recent purchases, “long” one million bushels, and the market held firm at seventy-two cents⁠—a twelve-cent advance in two months.