Sharp Advance In Wheat

New York, Nov. 11. - Wheat eelipsed Monday's record price Tuesday morning by going up to 87% cents after the start on December. The sharp advance induced profit-taking, however, and under the pressure December dropped to 87% cents before noon. Unexpectedly higher cables, foreign buying, unfavorable European and Argentina erop reports and light spring wheat recelpts occasioned early buying. Transactions in wheat futures to noon amounted to 5,070,000 bushels.