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Show ARGENTINE GRAIN PfllGESJTUMBLE South American Nation Has Great Wheat Surplus At Harvest Time H CENGS- AIRES, Fob. 3. Wheut futures have broken severely ln tho Holsa de Commerclo here during; the past week, prices fallinc the equlvap lent of 30 cents a bushel on a tremendous tre-mendous turnover equal to I'.ouo.noO bushels a duy It Is asserted that Argentina Ar-gentina Is beginning its annual crop movement with estimated surplus of 300.000 tone of wheal and that this country Is a dominating factor In the world's prain market. The decision of the Chicago board I of trade on Wednesday to discontinue posting quotations pf Argentine wheat is characterized by members of the Holsa as equivalent to an "ostrich hiding hid-ing his head ln the sand." Local speculators todav brought forward for-ward North American statistics shoving shov-ing the world's wheat production exceeds ex-ceeds consumption by 1TO.UO0.000 bushels. European buyers at present refuse to enter the market here, chiefly, it Is said, because of the uncertainty as to whether the Argentine frovernmont will rc-lmpobo the export surtax on wheat. It Is declared that prices of wheat here represent the true situation. Hrnkers on the linls. today greeted With Ironic cheers and Jeors the arrival ar-rival of Chicago noon quotations showing hlg declines. 00 |