STABILISATION
AMERICAN EXPERIENCE
COLLAPSE IN WHEAT
(Received-24th March, 10 a.m.)
CHICAGO, 23rd March.
Wheat quotations dropped to .their lowest point since 1895 on Monday,' sagging 11. cents per bushel on the 1631 crop options, following the announcement of the Farm Board that it would not attempt to maintain prices beyond the month of May,., when the 1930 crop passes from dealings. This action of the market is contrary to the expressed opinion .of. Mr. George S. Miller, president '■ of the Grain Stabilisation Corporation, ..that the news constituted a bullish market, factor. :
July:'wheat representing contracts for the new crop, not protected by stabilisation buying, collapsed to 59% cents per busliel, the lowest price for the past thirtysix years. .June delivery, in which there was some light trading, dropped by 11 cents.
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Evening Post, Volume CXI, Issue 70, 24 March 1931, Page 12
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130STABILISATION Evening Post, Volume CXI, Issue 70, 24 March 1931, Page 12
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