OCR Text |
Show TWO CARGOES OF WHEAT SOLD FOR SHIPMENT TO ARGENTINA I (By International Newi Service) I CHICAGO Two cargoes of wheat were reported sold at Mew York recently re-cently for movement to Argentina. At (the same time Brazil bought 22S.OO0! i bushels at New York, according to re-! ports to the Chicago Board of Trade. It was pointed out that It is not unusual for wheat t" be sent from the I'nlted States to Brazil, but that a sale lo Argentina was a new factor land indicative of the general situation of thnt counfv. Argentina shipments Which have been running up Into mil-; 'lion;; dropped to approximate!) 500,-- 000 bushels for the second week In i August. In the Chicago market, where trad-ling trad-ling In wheat for future delivery was resumed In Juh and the law of sup-plv sup-plv and demand returned as the dominating dom-inating influence cron reports from j Australia have been wjatched with Interest. In-terest. The Australian wheat crop ! has been estimated at 110.000,000 1 bushels, tndlcatlng an exporlable sur-1 1 plus of M), 000, ooo bushels. The new crop win be harvested early in the I new ye;r. This estimate compares) j favorably with previous years. but1 (grain men think It rather early to; predict a record yield for Australia It! In slated by buvers and sellers In thei w-orld open market here thai if thej I Australian crops turn out as well nsi antii Ipated much credit will be due foi the fine quality of sed available thiji I year. j |