GRAIN PRICES FALL
CUTS SHARP U.S. REACTION ARGENTINE CRITICISED CHICAGO, Sept. 18Wheat and corn prices tumbled on the Chicago Board of Trade today, falling the full limit allowed in a single day’s trading. This followed an announcement that the Government was cutting November relief shipments abroad.
The Secretary of Agriculture, Mr. C. Anderson, is expected to announce shortly an overall 20 per cent cut in the export programme as a whole for 10-17-48.
This announcement is aimed at “cooling off’’ grain market speculators. It is hoped that the lowering of the export target and voluntary appeals to the public to eat less and to farmers to refrain from feeding grain to livestock will restrain the rising prices, but international food officials arc doubtful whether such measures will be adequate.
Adding to the gloom was the overnight disclosure that the Argentine is charging European nations 595 cents a bushel for wheat, which officials describe as "pure exploitation of misery."
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Bibliographic details
Gisborne Herald, Volume LXXIV, Issue 22439, 20 September 1947, Page 5
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158GRAIN PRICES FALL Gisborne Herald, Volume LXXIV, Issue 22439, 20 September 1947, Page 5
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