For some time, wheat prices have appeared weak and unable to stand at $2.00, much less advance beyond that high price, although news concerning the wheat outlook was in general encouraging.
Suddenly, toward the end of the week, the fireworks began. Under an avalanche of selling, wheat declined 15¢ in a single day to $1.66, along with a 17¢ decline in rye. Old grain traders declare that never in the history of the business has such a price-range been seen in a single day.
Thus far, conjecture has mostly centered about Jesse L. Livermore, veteran of many a successful "bear raid." Mr. Livermore...
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