Word: wheat
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Dates: during 1930-1939
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Today "Dollar Wheat" is as the caroling of seraphim to Republican ears. Should wheat touch that bright and gilded level before the next presidential election. Republicans will be more confident of holding the White House than they have been all this long dreary year...
Last week the wheat market continued its upward surge in such a way as to make "Dollar Wheat" a distinct possibility. In fact "Dollar Wheat" was an actuality in the highest grades of grain. Montana Dark was taken for $1.01 in the Seattle pit. A fine hard variety brought $1 at Boise. The Pillsbury Flour Mills at Minneapolis paid $1.03 per bu. for No. i amber durum...
...Chicago Board of Trade wheat prices rose and fell and rose again, bounding up if:.1 2 or 3 per day. Sweating brokers within the paneled walls of their La Salle Street skyscraper were swamped with buy orders. They yelled and screamed their floor jargon: Give jo Deece 63! Sold! Sold! Sold! 50 March 67! Give 40 July 70! Sold! Sold! Give 50 Deece 64! 70 Deece 65! Sold! Sold...
...five and one-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...
...rally in wheat, it was believed, was started by professional traders. But last week the public swooped into the market and whirled it up and out of control with buy-orders. Oldtime operators implored amateur speculators to be cautious, recalled that in 1896 on a shortage scare in India wheat climbed almost perpendicularly from 5 3 (Ho 94/. only to scale down again. "The advance is too rapid to be sound," they kept repeating to a public that did not want to hear. For was not the Farm Board bulling the market and Arthur Cutten predicting "Dollar Wheat...