NEXT WHEAT HARVEST.

Auckland Star, Volume LX, Issue 282, 28 November 1929, Page 4

NEXT WHEAT HARVEST.

J STABILISING THE MARKET. ?By Telegraph.—Special to " Star.") CHRISTCHURCH, this day. That the exportation of considerable quantities of this season's wheat had started the idea of co-operation between millers and the New Zealand "Wheat Pool, was the statement made by a fiourmille'r to-day. He said that in view of the attitude towards export, taken up by the select committee of inquiry into wheat duties, it' was considered that the interests of the wheat industry would be best served by guarding against any necessity for exportation next season.

Millers had been buying stocks from the pool all along. The - pool held large quantities of wheat which it must sell, and which must eventually go to the 1 millers. Therefore, it was best for buyer and seller to co-operate in the best interests of the industry. This had led to a contract with the pool for the buying of at least 500,000 sacks of next season's crop. The - contract price agreed upon added the miller," could not be released for publication yet. However, he was, convinced that, the figure would be satis-' factory to growers. The minimum quantity of 500,000 sacks mentioned in the contract for 1930 crop, represents about 25 per cent of 'the yield, expected. The acreage in growing crops i§. 234,000, and, on the basis of 30 bushels to the acre, this will yield about 7,500,000 bushels. There will be a carry over to next season of . about 1,500,000 bushels. In wheat pool circles general satisfaction is expressed at the terms of the contract.-,