WORLD WHEAT.

Auckland Star, Volume LXVII, Issue 188, 10 August 1936, Page 4

WORLD WHEAT.

i POSITION OF SUPPLIES. >70 SERIOUS SHORTAGE. NEW YORK, August 8. The Washington correspondent of the ' Xexv York Times" says the chief of the Bureau of Agricultural Economics, Mr. A. Black, in a review of the world's wheat supplies for the 193(5-37 season, states that outside of China and Russia, they will be at least 230,000,000 bushels less than in the previous year and the smallest since 192(5. World production in 193<5 is tentatively estimated at 3,510,000,000 bushels, or 20,000,000 below 1935. The world carry-over will be 210,000.000 less than last year, but still somewhat higher than the average .prior to 1928, while imports of hard spring and durum wheats by the United States are expected. Nevertheless, the country will have quantities of other types available for export, particularly white wheats from the Pacific north-west. "There is no' basis for the fear that there will be important I 'deficiencies in regard either to world or domestic supplies," says Mr. Black. "A surplus will come again. The question now is iliow long it will take for them to mount to price-depressing proportions." A message from Ottawa says the Canadian Bureau of Statistics reports that the foK 'spring wheat in the prairie provinces. declined 45 per cent in July owing to the drought. BIG RUSSIAN CROP. . ■ MOSCOW, August S. In spite of drought Russia's wheat crop is likely to reach 100,000,000 tons, which would equal that of last year—the richest in the Soviet's history. Sales will exceed last year's, namely, 10(0,(550 tons. The Government lias sufficient reserves for three years. i SYDNEY PRICE EASES. 'SYDNEY, August 9. The reaction in overseas wheat prices was reflected in Sydney yesterday. Market quotations generally were down one penny a bushel compared with the previous day. Bagged wheat was quoted nominally at about 4/11.