WHEAT PRICES.
SHARP FLUCTUATIONS. BY CABLE—PRESS ASSOCIATION—COPYRIOKT NEW YORK, July 24. According to a Chicago message wheat prices, which during the past week have been sharply on the ascendant, suddenly dropped over-night because of conflicting Canadian reports regarding the extent of the damage by drought and black rust. These had caused July wheat to reach 133£ cents, September 131| cents, and December 134 J cents, representing a.n average gain of five cents a bushel over the figures cabled on July 16, but the strength ebbed respectively to 131, 128, and 131 cents.
The downward drift of prices became a rout when Mr. Hoadley (Minister for Agriculture in Alberta) announced that the estimates of the damage were quite unfounded. Mr. Hoadley, in admitting certain crop failuresf added that the situation had been redeemed by fortunate rains. Nevertheless it is estimated that the United States will sell abroad 33 per cent, of its crop This increase is being already reflected in better conditions in the midWest, notably in Kansas, where a huge crop within a short time raised many agriculturists from the verge of bankruptcy to the dawn of vast riches.
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Hawera Star, Volume XLVIII, 26 July 1924, Page 5
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189WHEAT PRICES. Hawera Star, Volume XLVIII, 26 July 1924, Page 5
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