Business: Two Rallies

On Oct. 5, the 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...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!