WHEAT MARKET

Evening Star, Issue 19198, 15 March 1926, Page 5

WHEAT MARKET

CO-OPERATION PROPOSALS

CANADIAN SCHEME EULOGISED

Press Association—By Telegraph—Copyright

OTTAWA, March 13. .Interviewed at Montreal, Mr M'Dottald, of South Australia, who represented Australia at the recent world’s wheat conference at St. Faul, Minnesota, said that immediately upon his return he would sound tho present Australian wheat pools to ascertain their sentiment towards tho creation of a central pool similar to those in Canada, which he advocates without qualification. Ho pointed out that the Canadian pool sells 200,000,000 bushels, and if Australia, with its 75,000,000 to 100,000,000 bushels of exportable surplus, cooperated in putting its supply on the world markets it would bo one of the most desirable steadying influences, and not for tbe boosting of prices. Cooperation would mean treating the market rightly, and thus when it was depressed the pools could with benefit limit the supply and prevent the utter demoralisation which often resulted when there was no regulation. Mr M'Donald streised Australia’s superior position, particularly its wheats were harder and were required for blending purposes. Australia could therefore made its influence fully felt in anv scheme of en-operatiou. _ He reiterated tho necessity for unanimity m Australia, and said there was no need for the State pools to he worked behind closed doors. . Asked whether Argentina might not negative any effort at world nuukot regularisatio’n by sending its wlfeat out regardless of the activities of the Canadian and Australian pools, Mr M Donald said ho believed that Canac® and Australia working together would ensure a steadying of the market, hut that the co-operation of_ Argentina could also he expected in time.—A. and N./. Cable.