COMMODITY MARKET
PANIC IN NEW YORK. SELLERS IN CONTROL. (United Press Association—By Electric Telegraph.—Copyright.) Received December 29, 2.15 p.m. NEW YORK, Dec. 28. Commodity trading has turned fully-fledged buyers into a panic. Rubber, hides, silk, cocoa, sugar, rye. barley, maize and wheat have climbed to the highest prices and the speculative furore, combined with the rising demand from manufacturers and processors of raw materials holding scanty stocks, has put the markets* in sellers’ hands and given them a commanding position for the first time in sixteen years. Wheat is especially reflective of the position. December options in Chicago are 143 cents, just below October, 1929. The high danger of war is considered to be playing an important part in the speculation in commodities generally, and the smallness of the carry-over is held responsible for the wheat prices.
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Manawatu Standard, Volume LVII, Issue 25, 30 December 1936, Page 2
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137COMMODITY MARKET Manawatu Standard, Volume LVII, Issue 25, 30 December 1936, Page 2
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