Evening Republican, Volume 20, Number 190, Rensselaer, Jasper County, 9 August 1916 — Heavy Losses Shown In U. S. Crop Report. [ARTICLE]

Heavy Losses Shown In U. S. Crop Report.

Exciting scenes attended by a sharp rise in the price of wheat are looked for on the board of trade as a result of one of the most pessimistic crop reports issued by the government in recent years. The report, posted after the close of business Tuesday, predicts that the total yield of the leading cereal crops of the country will be nearly 1,000,000,000 bushels less than last year. Sensational losses in the shrinkage of spring wheat are shown and further loss the same way in winter wheat is expected. The corn crop, too, is now estimated at 250,000,000 bushels less than last year. With the publication of the report came a tremendous demand for offers on wheat futures, and many of these sold at 10c a bushel over the official closing prices. A radically bullish sentiment is likely to send the wheat price soaring to an alarming figure. Big losses over last year’s oats, barley and rye are also shown in the July report.