WHEAT FUTURE PRICES SLUMP
Wheat future prices in Chicago slumped recently to their lowest point since the start of the Korean War. Chicago grain experts said the reason was “there’s just too much wheat in the world.” Wheat prices at the Chicago Board of Trade slumped nearly eight cents (about 7d) to nearly two dollars 8 cents (19s sd) a bushel. On December 10, 1951, at the height of the Korean War wheat boom, they reached nearly two dollars and 70 cents (about 24s 2d). Nearly all other commodities were also oi. the decline and had been for the last 60 days. London Wool Sales This Week.—New Zealand is offering 12,549 bales at the second series of the London wool sales this week. Total offerings at the sales are 22,774 bales. £420,000 Joint Issue.—The Lower Hutt City Council and the Hutt Valley Electric Power Board are jointly seeking £420,000 in a 4 per cent, issue, applications for which opened yesterday. The city council is seeking £250,000 for several works, including the erection of a town hall and administrative building. The power board is seeking £ 170,000 for building and reticulation purposes.
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Press, Volume LXXXIX, Issue 26969, 19 February 1953, Page 12
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190WHEAT FUTURE PRICES SLUMP Press, Volume LXXXIX, Issue 26969, 19 February 1953, Page 12
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