WHEAT PRICES
STABILISATION PLAN BOARD TO BUY SURPLUS Washington, March 5. The chairman of the Federal Farm Board (Mr. Legge) on Thursday stated that the Grain Stabilisation Corporation would continue buying wheat at market price and remove from the market whatever additional quantity was necessary to relieve pressure and prevent any considerable decline in prices. The Farm Board, if necessary, would spend as much as 150 million dollars to take up all surplus wheat, the board now having 75 million dollars on hand for the purpose, and Congress would be asked to appropriate more if the grain crisis continued. Mr. Legge stated that both the leaders in the House and Senate assured the board of more money if the situation warranted it. In the meantime the Grain Stabilisation Corporation would continue to buy May futures and visible stocks in the endeavour to support the market. The corporation expects to bold its May futuies until after the new crop of winter wheat is marketed at the beginning and middle of Juno. It is understood that the Grain Corporation now holds considerably above 25 million bushels of w..eat, and has future contracts for 10 millions more.
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Bibliographic details
Dominion, Volume 23, Issue 139, 8 March 1930, Page 11
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194WHEAT PRICES Dominion, Volume 23, Issue 139, 8 March 1930, Page 11
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