Wall Street Crash of 1929 for harvest in the Mississippi Valley. This oversupply caused a drop in wheat prices so heavy that the net incomes of the farming population from wheat were threatened with extinction. Stock markets are always sensitive to the future state of commodity markets, and the slump in Wall Street predicted for May by Sir George Paish arrived on time. In June 1929, the position was saved by a severe drought in the Dakotas and the Canadian West, plus unfavorable seed times in Argentina and eastern Australia. The oversupply would now be wanted to fill the big gaps in the 1929 world
Wall Street Lays An Egg badly". "Variety" was noted for the slangy, breezy style of prose in its headlines and body text. Another famous headline in the paper was "Sticks Nix Hick Pix". According to author Ken Bloom, "Variety" publisher Sime Silverman wrote the headline. However, Robert John Landry, who worked at "Variety" for 50 years, including as managing editor, says it was written by "Variety" city editor Claude Binyon. The phrase is sometimes still used to invoke the Great Crash. For example, the sub-chapter describing the Crash in the 1973 book "A Random Walk Down Wall Street" is titled "Wall Street Lays An Egg",