Show I I WORLD WHEAT STOCK FAR BELOW NORMAL By JOHN P. P Associated Press Market Editor Edior CHICAGO Feb 27 P I P ions lons are current that world wheat imports by June 30 will wi be enlarged to bushels bushel beyond previous us estimates Trade summaries issued here today tolay to- to lay day Indicated the result resul would be a demand lemand for American hard winter wheat the remainder of the season Overseas reserve supplies the summaries sum sum- sumo maries manes imply are arc far below normal and many countries have about reached cached the bottom of the bins bin Despite apparent improvement of foreign grain values however wheat in n Chicago this 1 1 8 15 morning moring was Q 8 5 off oU compared to a week ago with corn orn cor 8 5 1 1 down oats showing l 8 4 3 3 4 decline and ad provisions varying from rom 10 cents cent setback to a rise of 35 cents A leading authority asserts that although although al- al though hough wheat price bulges here have been hard to hold there has been evidence of increased buying on setbacks set set- backs backs The rallies rales have carried the market markel successively to somewhat higher points point with wih English and continental con- con quotations gaming gaining decidedly on n Chicago and Winnipeg also alo advancing advancing ad ad- faster A key to lo this sItuation situ situ- tion aton is that hat virtual exclusion of foreign for- for foreign eign ign wheat in i most import countries has been prevalent six to seven months Notwithstanding that it is the in in- between season on field reports report numerous numerous numerous nu nu- nu- nu traders contend information from rom public and private sources forecasts fore fore- fore casts a big crop scare ahead in at least cast the western wester third thid of Kansas Kanas Considerable acreage there did not sprout prout and is likely to be abandoned abandoned Whatever the outcome agreement is gener general l as to need of perfect weather during the immediate future for wheat southwest southwest Although export business seldom has las a notable effect on corn com speculators are giving heed to evidence that hat prices pries have declined to almost a world parity Simultaneously reports re- re re ports port orts indicate that Argentinas Argentina's crop I is s shorter horter even than recently was pre pre- pre Oats traders say seeding in the he southwest appears to have been delayed clayed Provisions show irregularity lard down own and meats up |