Show Big Crop Outlook Bears Wheat Price CHICAGO July 4 AP Prospects AP-Prospects Prospect AP-Prospect Prospects of ofa ofa ofa a a big Ig crop of spring wheat both In the United States and Canada have carried wheat prices rapidly d downgrade this week Largely as a result the wheat market shows net losses ranging from 9 Y c to 11 1 Uc 0 a a bushel compared with witha a week ago Meanwhile corn Is 1 c to down and oats eats 1 0 to 2 20 Ho o off or but provisions to up Notwithstanding Notwithstanding that the spring wheat crop domestic and Canadian as well wel has yet to pass through Its Is critical pe period period pe- pe nod the outstanding fact has been persistent persistent persistent per per- absence of Import important nt damage so 50 far from black rust or any other menace men men- ace ace Only about bout ten days das are left lef In which a disaster r by X black l rust st in the rd as stE United t States is a at atall al all likely r I E Emphasizing Emphasizing P sizing this as a weight on values was general recognition that a large crop of spring wheat would mean macan an exportable exportable exportable export export- able surplus for the united States Such Sucha Sucha a a probable surplus was apparently confronting confronting con con- fronting not only a big yield in Canada but also a much Increased production throughout Europe Enlarging ging receipts of winter wheat wheat on the other othet hand have met with wih un- un dearth of export demand Furthermore Furthermore Furthermore Fur Fur- a specially untoward development devel development In with wih winter wheat heat was a a decided fall fal in hi cash prices at St. St Louis just when the main of ol wheat from Illinois farms was vas getting well under wa way According also to most unofficial estimates which were current the total expected wheat yield In the United States this season winter wheat wheal and spring together is bushels in excess of the government June 1 forecast A heavy brokerage failure here was another unsettling unsetting circumstance circumstance circumstance circum circum- stance as the week came to an end Trade estimates that the new corn crop crop crop will be the largest on record 70 bushels more than last years year's total did a good deal to full tuil ui down valUes values values val val- ues of corn and oats Advancing quotations on hogs hoisted the provision market |