WORLD'S WHEAT PROBLEMS.

Press, Volume LXIX, Issue 20920, 29 July 1933, Page 9

WORLD'S WHEAT PROBLEMS.

DISCUSSION AT CONFERENCE. KKSTRKTIONS OITOSED. Wzvr-u :■:; ■»srfu.-ivtlow - tit bi.rctmc TT.I.Ui-.aAI-M -COFiaiQIIT.) (Received July 28. 7.50 p.m.' REGINA, July 28. In an address to the World Grain Conference. Sir Daniel Hall, the rioted British agriculturist and representative on the International Institute at Rome, declared that, the cure for agricultural ills would not be found in the restriction of production, but in oiling the wheel* of trade and commerce. Drop in Consumption Likely. "World wheat, requirements are likely t0 decline instead of increase,'' said Sir Albert Humphries, president of the National Association of British and Irish Millers, addressing the main s&ssion of the conference. Noting that exports and imports of wheat had been diminishing in recent years. Sir Albert declared that the size of the European crop was the major factor in determining the quantity of imported wheat required in a cereal year. Salvation for agriculture, particularly in the exporting countries, must be found, though the method did not appear likely to lie by way of exportJJig cereals. He expressed satisfaction that. a country's external liabilities did not depend on huge quantities, but on an adequate monetary return. Excessive Supply. The problems created by world wheat, surpluses were dealt with by Mr G. S. J. Broomhajl, a British statistician, in a paper in which excessive supply was termed the chief cause of the existing agricultural difficulties. . An advertising campaign tn China and elsewhere to make wheaten bread more widely consumed was proposed as one of the solutions. It was necessary, he said, to bring production into line with the requirements of buyers. .Wheat growers were still in a favoured position, in that they could market the most valued foodstuff of civilised man. The demand for wheaten bread was developing in India, Russia, Japan, and China. Australian wheats were in demand, and selling at a preference on the world markets, as well as the Canadian product.

WORLD WHEAT SHOW.

AUSTRALIANS' SUCCESS. N ; riEGINA, July 27. At the world wheat show Mr John W; Eade. Euchareen (New South Wales', took first honours for white spring wheat. Australian entries took all but the twenty-third place in 2fl awards in this cla.ss. Other entries were from Canada, the United States, and England.

AMERICAN EXPORT SCHEME.

DEVELOPING MARKET IN ORIENT. WASHINGTON, July 27. The farm administrators revealed to-dty that they are planning to increase wheat exports from the Pacific coast to the Orient, and are prepared to use part of the proceeds of the processing tax on wheat to finance the scheme.

RAISING PRICES IN AMERICA.

DETAILS OF SCHEME. (Received July 28, 5.5 p.m.) WASHINGTON. July 27. The Secretary for Agriculture, Mr H. A. Wallace, has announced wheat production allotments totalling 465,198,588 bushels in 42 States and 2233 counties as the basis on which benefit payments may be made to farmers under the voluntary domestic allotment plan put into force by the farm administrators. The allotment in each case is the estimated proportion of the average prdductlon in the United States from 1928 to 1932 inclusive, which Mr Wallace estimated would be needed for domestic consumption, and on Which the processing tax of 30 cents a. bushel will be levied.

iWHEAT TRADING.

CARGOES, PARCELS, AND FUTURES. ENGLISH MARKET. * (mno raisss association -bt bl*ct*w TBLBGBAr*-COPTI» lOHT.) (Received July 28, 5.5 p.m.) LONDON, July 27. Wheat Cargoes—Following a better American close, sellers raised thenquotations from threepence to ninepence. There was increased enquiry ' for grain tonnage from the Black Sea *nd also for Danubian loadings. Parcels—Australians and Plates are Unchanged, Europeans slightly easier. Australian, ex un-narncd ship, July. 28* ljd. Futures are quoted:— „ July 24. July *}■ s. d. a. c. London (a quarter)— . September .. 24 5{ 24 J December .. 25 4 J ■ February .. 25 10 2b 1 Liverpool (a cental)— _ ,-, July .. ' 5 52 j? <>; October S7A S Hj| December .. 5 W 511 i , ' March .. 5 Hi! 6 °«I Spot trade is quiet. Australian, ex Wip, 29s 3d. 30s.

CHICAGO MARKET.

MAXIMUM GAIN ALLOWED. CHICAGO, July 27. Sjxwulative buying of all grains :+ jTwd like wildfire to-day, with prices H ,*<* ting skyward, wheat showing a P > ;."««*lmujn cain of eight cents, the

i limit allowed under the emergency i rules. Wheat closed flurried. Futures are quoted: Cent? a bushel. July 15. July 27, ti.iv • II2J 104 Jul ' / , us'. 1071 September .. Jl&* J "^ December •• }»f J^* New York (cash) .. 124 WINNIPEG MARKET. HIGHER QUOTATIONS. WINNIPEG, July 27, Driving steadily higher on the strength of "Averse weather in the Futures closed:— Cents , bU8 hd. July 24. July 27. .. m m . October •• 80 92 December •• •• w 96£ May •• " '