Salt Lake Telegram | 1925-04-12 | Page 32 | Wheat Soars up 10 Cents Bushel

Wheat Soars Up UpS I S 10 Q Cents Bushel i I c Cl CHICAGO c April 1 11 Excited Excited CI buying in the wheat g t market kep today sent t prices I I soaring 10 cents cent a bushel an amount I rarely surpassed on a single ingis day even evenin I Ia In tie tl times time of the h World o war I en 1 cial a announcement f n of f a probable II shortage shortage short short- age of bushels In the Un United lIed I l States State production of winter wheat this season eason as compared with 1924 1824 was waR aI- aI at 1 1 I most mOlt entirely responsible The Tle wheat I market clos d buoyant within 4 i cent of the days day's top figures at net gains Cains aln of 54 to 9 i cents Slay May to i and July fl 1464 to 1146 Corn finished tinS tin fin S at a rise varying from 4 to 10 5 c. c I oats oat I 1 cent t tl t c up and provisions provisIon I ranging from 6 5 cents cent decline to an anI equal advance I Inasmuch as the magnitude of the shortage In the probable yield of domestic do do- winter wheat was wa far In excess nce of what the majority of or unofficial ex experts ex- ex I had figured a stampede to the buying side aide of the th market today was wa a foregone conclusion The Th wildness with which trading here opened however was wa Intensified by the fact the beforehand beforehand before before- hand it was waR thoroughly known the Liverpool Liverpool Liverpool Liv Liv- market showed An extraordinary jump of 7 74 71 pence whereas only 3 pence gain was due This action of Liverpool Liverpool Liver Liver- pool 1001 quola quotations did a good deal to confirm confirm con- con firm film a prevalent view vie the LIver LIver-I entire supply and demand outlook had been ben radically the adjustment of or I world supplies and world needs being i admittedly a close one without taking I If I Into Inlo account the he big Increased shortage I f of or the winter wheat what I I Waves e of taking profit ro dies ailee I In the thenh nh wl at market e here ia led t to ho only n I leI teI le lemi lem- lem i slight reactions In At AtI j I no nIl time were values value at more his than 1 tnt cent or V Yr cent under the days day op opening i figures and al although ou the tiptop was vas r atu P reached reached fully IY an hour prior rl tot to the I II J I j the bulk of or the gains were tight tight- I ly held Assertions by a leading crop expert that rains rain In the drought areas area of the wheat belt W west I and southwest since the data for the government report wa was gathered had been Inadequate to afford aCCord wa a decided decIde factor in bringing about the maximum rise in s pric-s s No o 0 i I tics was wa also taken of or bushels bush bush- bushI I j els I reduction In the harvest elIma t. t for Cor forthe for forthe I Ithe the Punjab district of India and of or removal of or Import duties dulle by Spain and Rumania Possibilities however bowl that United States State spring wheat a r r I Imay may re yet be b. enlarged e to tg a surprising r degree and the fact c that bf n no Important n new export buying hall hail yet dev developed loped were being pointed out as a. the day drew drw to 10 an end Flurried buying on the part of oC previous previous pre pre- violas sellers sellera hoisted the corn market Oats followed corn In the provision trade the effect of oC lower quota quotations lion on en hogs hoga was wa offset by byI the rise In values of grain I