THE WHEAT TRADE
SLUMP IN AMERICA. EXPORT DEMAND ESSENTIAL. CHICAGO, July 18. Due to the low levels in the price of wheat, which is now hovering around Idol a bushel, there is consternation among the farmers, who expect a bumper crop this year. A movement has been started among the grain interests in Chicago, which is the premier American wheat market, to induce persons of means throughout the country to buy wheat for future delivery in the hope of bolstering up the market and encouraging farmers. A publicity campaign has also been started to eat more bread and to buy flour. It is understood that the committee will visit Mr Henry Ford and ask him to purchase several million bushels of wheat, pointing out that his automobile distributing agencies depend upon the agricultural interests. The large grain operators, while eager to support any movement, however artificial, that may strengthen the wheat market, admit that the position of wheat is hopeless for the present season till the supplies are depleted by the foreign demand. July 19. Black rust reports from wide areas m America and the Canadian North-West, coupled with the first buying orders in the week, caused all deliveries of wheat to rise above the dollar mark.
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Bibliographic details
Otago Witness, Issue 3619, 24 July 1923, Page 19
Word Count
207THE WHEAT TRADE Otago Witness, Issue 3619, 24 July 1923, Page 19
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