WHEAT PRICES

Greymouth Evening Star, 28 October 1932, Page 7

WHEAT PRICES

CHICAGO’S RECORD FALL.

[BY CABLE —PRESS ASSN. —COPYBIGHT.] CHICAGO, October 26. Grain prices have dropped to the lowest value ever recorded by the Chicago Board of Trade. At a few of the interior stations, bidding on any basis has been entirely suspended. The cash prices of wheat and corn in the South-Western States are less than half the freight charges to Chicago. The price of Kansas wheat is 20 cents per bushel ,or approximately one-quar-ter of the cost of production. CROP REGULATION. BUENOS AIRES, October 26. Argentina’s representative at the World Economic Conference Preparatory Committee has been instructed to suggest that an agreement be negotiated between the United States, Canada, Argentina and Australia to make a proportionate decrease in their wheat acreage, so as to bring wheat production within the consumption demand. The Argentine Minister of Agriculture said that such an agreement would eliminate the possibility of increased production and would restore a failprice. Something of the sort was needed, he said, because the world-wide unemployment was preventing increased consumption. WINNIPEG RISE. WINNIPEG, October 27. Wheat turned upward to-day, effectively halting the two-day display of bearishness, which sent prices to the lowest level in the history of the exchange. At the Olose, wheat showed gains of 1 7-8 to 1.) above Wednesday's prices.