FRENZIED BUYING
CHICAGO WHEAT MARKET NEW HIGH RECORDS (Uritcd P.A.—Bp Telegraph — Copyright) (Australian Press Association) Reed. 9.5 a.m. CHICAGO, Wednesday. Frenzied scenes were enacted in the Board of Trade as wheat shot to new high records in all future deliveries. THE advance of over five cents was A the greatest single day’s upturn for several years. Traders confidently awaiting a break in the market were forced into short covering, and paid dearly, while the general public, eneouraged by the bullish trend, plunged into the market, and the wildest scenes followed as frantic traders sought to fulfil the orders. ; Prices.—May, 1 dollar 47 7-S cents a bushel; July, l dollar 475 cents. September, 1 dollar 46 cents. WASHINGTON, Wednesday. The Department of Agriculture announces that the condition of winter wheat at April was 65.8 per cent, of the normal, compared with 8 4.5 per cent, in 1927, and 51.9 per cent., the average condition in the past 10 years. There was a decline in the condition of wheat of 17.2 points from December 1 to April 1, compared with an average decline in the past 10 years of 2.1 points between the same dates.
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Bibliographic details
Sun (Auckland), Volume II, Issue 327, 12 April 1928, Page 1
Word Count
193FRENZIED BUYING Sun (Auckland), Volume II, Issue 327, 12 April 1928, Page 1
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