“BIG RAMBLE IN WHEAT”
BALTIC EXCHANGE FIRMER UNITED STATES MAY IMPORT FLUCTUATION IN CANADA WAVE OF PROFIT-TAKING. By Telegraph—Press Assn.—Copyright. . London, July 19. A big wheat gamble has already begun says the Daily Herald’s city editor, and may at any moment develop into a hectic outburst exceeding anything since the war. The Baltic exchange has experienced the firmest day’s trading in wheat options for many months. Cargo after cargo has been sold and resold. “High seas” operators are gambling on the possibility of the United States being forced before the end of the year to become an importer for domestic requirements for the first time in her history owing to the deterioration of her crop.
A Winnipeg message states that wheat values crumbled under profit-taking today, closing at 6| to 7 cents , lower. Quotations are: July, 871 cents; October, 89J cents; December, 911 cents; May, 95.1cents. Wheat prices broke as much as 13 cents at Chicago.
A Sydney message states that within the past six weeks the price of wheat sold in Sydney has risen 6d a bushel, which traders attribute entirely to the prolonged dry weather and smaller harvests in Canada and the United States.
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Bibliographic details
Taranaki Daily News, 21 July 1933, Page 7
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196“BIG RAMBLE IN WHEAT” Taranaki Daily News, 21 July 1933, Page 7
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