WHEAT SLUMP.
AMERICA'S 1931 CROP
LOWEST IN 36 YEARS
GOVERNMENT SUPPORT
WITHDRAWN.
(Received 9.30 a.m.)
CHICAGO, March 23.
Wheat quotations dropped to the lowest since 1895 on Monday, sagging 11 cents a bushel on 1931 crop .options, following the announcement of the Farm Board that it would not attempt to maintain prices beyond the month of May, when the ]»30 crop passes from dealings. The action of the market was contrary to the expressed opinion of Mr. George S. Miller, president of the Grain Stabilisation Corporation, that the news contituted a bullish market factor. July wheat, representing contracts on the new crop not protected by stabilisation buying, collapsed to 59% cents, the lowest in 36 years.- June delivery, m which there was light trading, dropped 11 cente.
Winnipeg wheat dropped 1% cents on Monday on all future deliveries.
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Bibliographic details
Auckland Star, Volume LXII, Issue 70, 24 March 1931, Page 4
Word Count
138WHEAT SLUMP. Auckland Star, Volume LXII, Issue 70, 24 March 1931, Page 4
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