Salt Lake Telegram | 1924-08-10 | Page 18 | Crop Prospect Hurts Wheat

CROP PROSPECT HURTS WHEAT Price Setback Does Doe Not Extend to Corn CHICAGO Aug 9 Influenced by prospect prospects of a liberal Increase of t the e United States visible supply total tota on Monday wheat today underwent o. o 0 moderate moderate mod mod- erate crate setback in price Once Closing quotations quota quota- tons for tor wheat unsettled I ic c to c ble c net lower September 28 to 28 and December 3 to 32 with corn unchanged to o 0 higher and oats varying from I o off to c 0 advance In provisions the outcome ranged from lOc decline to a rise of 2 cents cents I Ver Very large accumulations accumulation of newly harvested winter wheat continued to topie pile pie up at primary centers the receipts at such ruch points toda today as well wel as for the week ns s a a whole being in excess excels of the totals of a year ago In connection ton tion with the movement of new now wheat Into commercial channels hedging sales sale here were of Increased volume and as asa asa asa a result reul the price of September delivery delvery delv- delv ery cry went vent down to about 4 cents under I December the widest difference yet this season Although there then was wa considerable buyIng buyIng buyIng buy- buy Ing based on the fact that August 10 Is considered a danger date for frost frostIn frostin frostin in Canada reports report indicating that there was no damage damage to wheat by frost last night and that the North Dakota crop was escaping any serious I h harm from roin b black k rust helped el to to ease easo o the wheat market here Rains in Argentina were alto also a bearish factor I storms that flattened out outI I much corn and Ind damaged the quality of oats Oata pave gave Jave firmness to prices of corn and oats enlarged however When values bulged Provisions were inclined to Ba sag sac in line lne with wih the hog market market