CHICAGO WHEAT
MARKED FALL IN PRICES.
RECORD WORLD SUPPLIES.
New York, May 27.
News from Chicago states that fdr the first time for 15 years quotations of a dollar for wheat for May delivery were registered on the Board of Trade. When rains over the Canadian spring wheat belt wiped out the last crop, a damage scare caused heavy selling throughout commission houses.
The dollar price was reached in the first hour of trading after stubborn “bull” resistance had held the market at an eighth of a cent above that figure for a considerable time. To-day’s slump was a repetition of the past week’s trade, for under the pressure of record world supplies and excellent new crop prospects, prices have been working steadily lower until the levels are now nearly 50 cents below the figure at this time a year ago.
Chicago wheat dropped to 93j cents per bushel.—Australian Press Association— United Service.
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Southland Times, Issue 20786, 29 May 1929, Page 5
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153CHICAGO WHEAT Southland Times, Issue 20786, 29 May 1929, Page 5
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