WHEAT DEBACLE
WORST IN MODERN TIMES CHICAGO ZERO QUOTATIONS UNDER 20 CENTS A BUSHEL,
(United Press Association—By Electric Telegraph.—Copyright.) (Received 0 a.m.) CHICAGO, November 3.
Today’s quotations at Chicago for wheat futures are:—December, 42J cents per bushel; May, 47J cents; July, 453 cents.
With December wheat reaching as lew as 41J cents during the day, statisticians had to go back to medieval Europe to find lower wheal, values, ; t. being estimated that some American wheats, on the basis of Chicago delivery, were selling at less than 20 cents a bushel.
Moreover, for the first time, United States wheat was worth no more on the market than the 42 cents tariff duty on it, designed to protect it from foreign competition. The excess of supplies of breadstuff in European and Continental ports is held to have accentuated the “bearish” sentiments ami driven down wheat prices. The New York quotation for cash today is HUJ cents.
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Northern Advocate, 5 November 1932, Page 7
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154WHEAT DEBACLE Northern Advocate, 5 November 1932, Page 7
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