MAY WHEAT GOES TO
LOWEST SINCE 1916
Corn and Oats for .May Deliv
ery Are Ches^r Than for
Eight Years.
Chicago, March 22.?Wheat to-day
touched the lowest price since 1916 for
M'ty delivery- Strained economic condi
tions, bearish crop report* and slackness
of export demand appeared to be largely
responsible. The market closed unset
lied at "|C. net dec-line to 114c. advance,
with March 11.51% @1.52 and May
$1.42*4 4? 1.43. Corn lost Onts
finished unchanged to %c. up, and pro
visions off 2 Vj to 40c.
Heavy liquidation took place In the
wheat market after the first hour. Re
vival of talk about enactment of an
ernergeni-y tariff hill had temporarily
given the hulls a little advantage, but
purchasing orders came almost entirely
from shorts, and with gossip current
about storage and warehouses being
"?logged with refused merchandise sell
ing pressure broadened, especially as
crop reports from all directions were
bearish and foreign inquiry was reduced
to a minimum. At the extreme low
point one big commission house turned
to the bull side and rallies ensued In th.
last thirty minutes. Besides, a leading
elevator interest wan credited with sell
ing March and buying May at the
finish.
Corn and oats averaged lower in sym
pathy with wheat. May corn and May
oats as well sold at cheaper prices than
at any time since 191".
Provisions were weighed down by the
action of grain and by uncertainty
about labor troubles.
chicago micas.
Mon
IjOw. Close. <tny.
