Throughout the U. S. wheatlands last week farmers stared dismally at the figures chalked on the blackboards of rural grain elevators. In Montana 12¢ was offered for a bushel of wheat, in Kansas 20¢, in Nebraska 18¢, in Texas, 30¢. Farmers who thought that they had seen the worst possible prices last summer received new jolts daily.
Wheat prices at elevators are governed by the closing prices in the Chicago pit, the difference being accounted for by transportation and insurance charges. Last week the price was hovering around 49¢ before it slipped...
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