Salt Lake Telegram | 1921-08-07 | Page 23 | Wheat Shows Material Drop

WHEAT HEAT SHOWS MATERIAL DROP Heavy leavy Shipments Have Ef Ef- feet on Market I. I CHICAGO Aug 6 Material C setbacks setbacks' In n tho the price of or wheat have havo tak taken n this his week largely a as ns a n result resul of or con- con big receipts Compared with wih a aveck n week ago tlc tho wheat market market this morning showed declines ranging from H to H c. c om corn cor was down 3 to 0 3 to 3 Se c oats off 1 to 2 c and provisions lower by 10 0 to Sic Although tho the rush of or wheat wheat to primary enters centers center slackened as compared with last week week tho the volume remaIned far Ih In ex- ex ess ces of or the tho corresponding time a year ear ago In in fact tact nearly double Persistent slowness slow slow- ness of or export demand except when prices tad had undergone declines tended further to o discourage bulls buls especially as spring pring wheat growers appeared to be following the he arl early marketing example of or tho the winter winter win win- ter er crop producers Heaviest Jest Hen individual liquidation was ascribed to a prominent New Jew York trader who was reputed to have lavo b bought at nt higher prices As a a rule rue rue new speculative buyers buers appeared to be beholding holding oft off and hedging sales had to be made mado at al a disadvantage the amo amount nt of pit pIt transactions being the smallest witnessed wit wi- wi here in months Credit conditions were said to form torm the chief stumbling look lok preventing larger sales S to Europe RIna Rains and cooler coler weather had a bearish effect on corn Largo Large stocks In sight depressed oats Provisions were pulled down b by weakness weakness weakness weak weak- ness o of grain and ad hogs hog