FARMERS LOSE MILLIONS
COTTON AND GRAIN MARKETS COLLAPSE CHICAGO SAGS STILL MORE (Australian and N.Z. Press Association) Reed. 10.5 a.m. CHICAGO, Tuesday. Farmers suffered an additional loss of millions of dollars in the drastic commodity declines of the past few months. When May wheat today dropped to 964 cents, and then rallied to 962, cents, it reached its lowest mark in 15 years. In the collapse of the cotton and grain markets, on a basis of the average crop yields, more than £26,000,000 in potential agricultural income was wiped out yesterday and today, while in the wheat market the drop of 35 cents since February accounts for a loss of £64,000,000. Wheat today closed: May, 962 cents a bushel; July, 99 7-8 cents; September. 1 dollar 44 cents; December, 1 dollar* 8.2 cents. Reed. 11 a.m. WINNIPEG, Tuesday. Optimistic Canadian crop prospects and pessimism in Chicago and Liverpool brought the season’s lowest marks for wheat on Tuesday, closing 21 cents to 2§ cents down. May wheat, 1 dollar 84 cents.
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Sun (Auckland), Volume III, Issue 675, 29 May 1929, Page 12
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170FARMERS LOSE MILLIONS Sun (Auckland), Volume III, Issue 675, 29 May 1929, Page 12
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