WHEAT PRICES
NEW LOW RECORD CHICAGO QUOTATIONS DECEMBER PIT AND CASH (United Press Assn.—Telegraph Copyright.) (Rec. 6.10 p.m.) Chicago, October 29. A new low record for wheat futures in 70 years trading in the wheat pit and an 80 years’ bottom in the cash price, was established to-day when December dropped on persistent liquidation by tired long interests and nominal price Number Two hard Winter reached 444 cents. Wheat reached 34 cents in July, 1852, but at that time Chicago had not yet established its place as the world’s grain market. The collapse of prices to-day is attributed to the news that the Australian harvests have begun and that the Argentine is prepared to cut prices, this presaging the force of world competition.
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Bibliographic details
Southland Times, Issue 21851, 31 October 1932, Page 7
Word Count
123WHEAT PRICES Southland Times, Issue 21851, 31 October 1932, Page 7
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