Show M sT Rf sl FOR WHEAT BEl Credit Expansion Likely Make the Grain Look Extremely Cheap By JO JOHN N P. P BOUGHAN Associated Press Pres Market MarJet luet CHICAGO Jn Jon Jan Iff 16 If at S e Jet respect the nations nation's naton's a agricultural look is almost i per cent t tory sl J Grain trade reports report today indi that the wheat belt of the idl bel States both for winter and s has r. r crops just now the te best m nij conditions in many may years years I. I Lead authorities said L however that p on wheat were so low that there thet t little inducement to take the uni side and that should busin business te U i prove as a a result of ot credit helps help un way wheat at current lc cb hep wo we Wd look extremely cheap WO Compared with wih a week ago wl bC wee this morning showed 2 1 with corn cor 1 l 81 5 58 8 down down set l 3 38 8 off of and provisions at oat 17 t to 1 cents decline t Assertions that the majority traders have been magnifying t market effect cUed of Argentine an and nd j A export pi pressure on the te soIl woi wheat market are current in o s J quarters Latest estimates sug sugg that Argentina has h an a exportable rug si sigus p I gus us of bushels bushel S I as about two two thirds thirds of oC the ATI Arp tine surplus usually is cleared August 1 I this allows seven clere Augut moi in i which to t sell sel and clear mal bushels It Is figured by one spec 1st that therefore s tat Argentinas Argentina's p pable pr able exports will less wf average le t th bushels a month mont Furthermore official estimates diate that tat countries Ji Ja ary 1 had only bushels II to come forward the remainder the season Financial r reasons SOt generally expected to force Austi Austra to ship her new crop as rapidly possible However she has ha an a i of but bushels which 50 per cent or more K m t likely liely to go to the orient orel MI Mei Me while world import requires require are arc unofficially forecast at about ut t e bushels a month with c tin tI ances aces from fron the southern souther and the Danube between January Janun and Jul July 30 at not to exceed 2031 20 bushels leaving apparently i i above bushels to t be b f by North Nort America Persistent dearth of shipping c rr IT nd here counts count heavily ap agas ta corn com market upturns It I is i pot p out though that a similar simlar condi condit cond prevailed In I 1893 96 and ad that i es c values then made a jump when l expected expected Oats Oat stocks stock at term ter arc are not showing any ay reducto reduction I I speak spek of of Provisions reflect hog price d dines clines to the lowest level In i 32 j but use ue of lard has increased 01 om substitute to its it cheapness compared vil witha a J |