WORLD'S WHEAT CROP.

Auckland Star, Volume LX, Issue 303, 23 December 1929, Page 4

WORLD'S WHEAT CROP.

IMPROVED OUTLOOK. PRICES DISAPPOINTING. WASHINGTON, December 21. The world wheat crop for 1929, outside Russia and China, is placed by the Department of Agriculture at 3,415,000,000 bushels. The carryover on July 1 next will be between 315,000,000 and 395;000,000. The report says the outlook for the remainder of the season has improved. Shipments from the Southern Hemisphere have declined, and the expected reductions in the new crops have been confirmed by recent reports. congestions in the Continental.rim markets are disappointing, and the European demand for overseas wheat is beginning to show some evidences. The increasing advance, in cash wheat prices forecast a month ago is under way, but large available supplies in the United States tend to hold the advance in check, or to cause recessions after the marked advances. SLUMP IN CHICAGO. CHICAGO, December 21. Wheat prices slumped further yesterday with poor export demands and abundant offerings. Closing quotations were: December, $1.15% per bushel; March, $1.22; May, ?1.26; July, $1.26%. To-day's quotations are: December, $1.21% per bushel; March, $1.27%; May, $1.30%; July, $1.31%. LOWER LONDON PRICES. LONDON, December. 20. Bullish advices from Australia and small River Plate shipments counter-balance reports of good rains in India, so wheat cargoes are 6d to 1/6 lower. Buyers are content to wait. Parcels are finding poor support. AMERICA'S WINTER WHEAT. WASHINGTON, December-21. An aggregate of 43,690,000 acres of winter wheat have been sown this autumn, according to the Department of Agriculture. This acreage is 102 per cent of that sown last season. The condition of winter wheat on December Iwas 86 per cent of normal.