THE GRAIN PIT.
A SELLING DRIVE. DRASTIC LIQUIDATION. (Hi CAJ>I.K mtw ASSOCIATION—rorrwoHT t (AfSTKALUX -\Xt> S.I CABLE ASSOCTATtOS * (Received March "1. $.-3$ p-ta-"* NEW YORK. March Stocks were subject to another severe selling drive following on a further drop in May ■wheat, which fell •* cents below its previous bottom price ef 1-" cents per bushel. The renewed dee'in- - forced heavy liquidation of stocks en account of traders in the grain p;'. whose margins were impaired. Tfci* selling started a precipitous downward movement on the Stock Eiehangiwhieh resulted in a new low level in active stocks throughout tho list. Lots of orders were caught in the confusion, and the whole market broke badly, bu' indications of better support wero shown in late dealings, prices generally closing above the session's low leveb. No definite reason is advanced for tK» general wave of wheat selling, but weli posted observers blamed the apathetic demand, the better South-west crop news and the slump in stocks. Drastic liquidation was encountered when ic tercsts long identified with the 'bulls" dumped the bulk of their wheat into the pit.
Chicago advises that wheat option! are quoted as under: —May, 147 cent# per bushel, July, 136}. September I2SJ.
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Press, Volume LXI, Issue 18346, 1 April 1925, Page 9
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199THE GRAIN PIT. Press, Volume LXI, Issue 18346, 1 April 1925, Page 9
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