CHICAGO WHEAT MARKET
PRICES SLUMP FURTHER United. P.A. —By Telegraph—Copyright CHICAGO, Saturday. Wheat prices slumped yesterday with poor export demands and abundant offerings. Closing quotations were: December, 1 dollar 153 cents a bushel; March, 1 dollar 22 cents; May, 1 dollar 26 cents; July. 1 dollar 26 5-8 cents. Today’s quotations are: December, 1 dollar 21J cents a bushel; March, 1 dollar 27 1-8 cents: May, 1 dollar 303 cents; July, 1 dollar 31 5-8 cents. The world wheat crop for 1929, outside Russia and China, is placed by the United States Department of Agriculture at 3,415,000,000 bushels. The carryover on July 1 next will be between 315,000,000 and 395,000,00. The report says the outlook for the remainder of the season has improved. Shipments from the Southern Hemisphere have declined, and the expected reductions in the new crops have been confirmed by recent reports. The congestions in the Continental run markets are disappointing, and the European demand for overseas wheat is beginning to show some evidences. The increasing advance in cash wheat prices forecast a month ago is under way, but large available supplies in the United States tend to hold the advance in check, or to cause recissions after the marked advances.
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Bibliographic details
Sun (Auckland), Volume III, Issue 853, 23 December 1929, Page 10
Word Count
203CHICAGO WHEAT MARKET Sun (Auckland), Volume III, Issue 853, 23 December 1929, Page 10
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