Word: bullishness
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...sixth day July wheat leaped back to 60?. Few pit traders anticipated any further sensational rise despite the crop drop because the Farm Board continued to sell its surplus on every market bulge. Chairman Stone of the Farm Board happily predicted: "The 3/4? crop estimate was a bullish statement. I see no reason why this year's crop shouldn't bring better prices than are now offered...
...half trading days December wheat rose from 61/ to 67^ per bu.. a rate of climb which, if maintained, would bring "Dollar Wheat" by Christmas. All of next year's futures crossed the 70<' line and went beyond. La Salle Street's air throbbed with bullish rumor: Russia was definitely out of the export market; the Manchurian situation meant war and war meant a wheat shortage; U. S. farmers will cut their 1932 acreage drastically; nearly one-third of Germany's crop was ruined by wet weather...
...buying by the public became more apparent. Seats on the Board of Trade jumped from $6,500 to $12,000. Arthur W. Cutten, greatest of living wheat bulls, became almost a national hero; telegrams poured in upon him asking how high wheat would go. He merely said he was bullish, named no prices. But in the public imagination "Dollar Wheat" became something to be achieved, in some places already achieved...
...price of May wheat was 48¾? a bushel. Last week it rose to 61¾?. Bullish factors were: a reported 16% decrease in winter wheat acreage; the return of several bull operators to the Pit after a long absence; heavy buying from England in anticipation of a tariff; covering of short positions and long-buying from foreign interests who were heavily short around the lows. Cotton advanced slowly, steadily. Factors were a September rate of consumption better than that of last year, reopening of many Lancashire mills after the pound's fall, also British buying against a possible...
Texas is here to show off the qualities of the bullish name they bear. Down in the southwest they have showed themselves to be great sportsmen, hard players of great endurance. Why not show the cast a few wrangler's tricks? For Harvard the game will not be a major one, but its importance in the Texas schedule cannot be inconsiderable. A victory over Harvard will be a distinct scalp for the belt of the bovine aggregation, and after coming the breadth of the country to take on the Crimson football men, the ranchers will not fail to offer enough...