CANADIAN WHEAT HOLD-UP

Evening Post, Volume CVIII, Issue 148, 19 December 1929, Page 12

CANADIAN WHEAT HOLD-UP

■ - The holding up of Canadian wheat tor higher prices is continued by the pool authorities, and United Stateß interests as referred to in the cablegrams of late. jThey are apparently taking a long view— even ,so far as a probable low harvest in Canada next year. The unexpected frequently happens, however. A further statement was issued in the middle of October by Mr. E. IS. Kamsay, of the Canadian pool, in which he set forth the main factors which influence the pool authorities in their anticipations that demand will at least be equal to supply, and that higher prices will be obtainable He points out that if the estimate of world import requirements at 740,000,000 bushels as compared with 920,000,000 bushels last year proves to be correct it will be necessary for Australia and the Argentine to produce average crops, if world carry-overs are not to be reduced to dangerous levels. "With only 100,000,000 bushels of Canadian wheat available for blending purposes, the probability is that there wil* -%>t be any more than enough Canadian >. «at to go round. Furthermore, the season in which Canada exports most freely is still two weeks away, and apart from the normal early harvest and rapid grain movement, the situation is very nearly normal from an export point of view."