LOADED UP WITH WHEAT.

Auckland Star, Volume LXII, Issue 209, 4 September 1931, Page 4

LOADED UP WITH WHEAT.

lIS A. FARM BOARD'S PROBLEM. WASHINGTON, August 31. Mr. Carl Williams, acting chairman of the Federal Farm Board, states that if winter wheat planting i s immediately decreased by 50 per cent wheat stocks will be brought to normal in two years. Mr. Williams repeated the board's refusal to continue stabilisation purchase*,. He said:—"The board for two years nas cushioned' the American farnters againit price declines. An accumulated store of wheat, which is virtually a frozen stabilisation purchase, is valuable in face of temporary surpluses, but not in face of continued over-production, which in the case of wheat has continued for six years. The only remedy is a reduced production." Mr. Williams refused to state the board's present wheat holdings, but reliable' estimates have placed the figure ■at over 200,000,000 bushels, in spite of the recent exchange with Brazil for coffee of 25,000,000, bushels of wheat, which in turn caused much unfavourable argument in circles affected by the change in the situation on the Brazilian markets. Mr. Williams asserted that the wheat now growing, combined with the 319,0.0,000 bushels in the carry over, wili cause a total supply this" autumn of 1,213,000,000 bushels, a two years' domestic supply, with very little wheat being exported. I