Salt Lake Telegram | 1923-01-27 | Page 6 | Wheat Rallies from New Low

WHEAT RALLES fROM NEW L LO W CHICAGO Jan 27 21 By A. A P. P Ate P.-Ate After I falling faUng to the lowest lowet price since the first fIrs I week in In December the wheat market this w week has haa shown aided some rallying power by t a 8 senate senale n le committees committee's favorable action aton on the bi to Provide an export credit fund rr of States f Piling up of 01 the United I visible supply of ot wheat was previously pre- pre acting a a a weight heat on values values Com Com- was pared L a we week k ago wheat this morning alo to H C a down wn corn varying from Vic c c decline t to i Sc c gain oats o off or to c o UP and provisions oas varying from tram a a. setback of 01 to 1 10 On a I At the extreme low point reached reached by the wheat I market market Prices showed more than Ho Hoa 10 a bu bushel Jel dr drop P from recent top figures With I export hS u business s meager and with further furher shrinkage of ot In On European buying power I prospect prospeCt I as a reB result t of the strife going on between Germany rany and ana France Prance and because I STort ot of other Eur European Pea Pea-n discussion discussions the wheat wheat I market market was was' under heavy selling pressure before if je rea reactions tl ns began Rainy weather In Inthe inthe I Iad Ie as the e a ad domestic further c winter bearish h hw w wheat Influence nef e territory counted i ico co compared Evidence ce wits with to show other that at wheat commodities oh o was low t to together to- to as gether tether talk current that Russia would be out of 01 the export business for at least leasta least leasta a generation Were contributing Jor factors factor On In helping the market to recover somewhat jIom the nc weakness whIch was becoming acute Subsequent changes change In In price hinged largely on varying opinions opinion as to whether the pr proposed posed foreign credit legislation would woul fall fail of ot enactment and the tha chances chance otherwIse otherwise otherwise other other- wise for Germany to get money to pay for foodstuffs Corn and oats oat were steadier by the government gov gov- report that the num number r of hogs on farms arms greatly exceeded the total a year ago alo Packers Packers' selling led to d declines In Inmost Inmost inmost most of cC 01 the provision list