WHEAT MARKETING

Evening Star, Issue 19588, 21 June 1927, Page 5

WHEAT MARKETING

THE SASKATCHEWAN POOL RENEWAL OF CONTRACTS. Press Association—By Telegraph—Copyright OTTAWA, June 19, Mr M'Leod, director of publicity fertile Canadian Co-operative Wheat Producers, Limited, has informed the Press that the Saskatchewan wheat pool has already secured enough contracts and renewals to carry on for another five years. This moans that over 0,500,000 acres come within the pool for five years, beginning with the 1928 crop, and there is still over a year before the old contracts expire. The fact that the Saskatchewan pool has already secured its quota aud that contracts are coming in very rapidly from the other two provinces establishes beyond any question the functioning of the pool for at least another six years, and probably for all time, as part, if nob the whole, of the grammarketing machinery of Western Canada. [A cablegram published on April 4 stated that the Saskatchewan wheat pool, a big factor in co-operativo grain marketing in Canada, was having great difficulty in persuading its members to renew their grain-marketing contracts. Less than 50 per cent, of the members were renewing despite tlie army of field service men employed by the pool. I'his was duo to tbe fact that the producer selling on the open market had been obtaining a better price for his grain than the pool farmer. More than 11,000,000 acres of Sasketchewan wheat were in the pool, but the contracts expired with the marketing of the 1927-1928 crop. Only 5,000,000 acres had been renewed, and unless another 2,500,000 acres entered by next autumn the pool would be compelled to release all its members from their contracts and cease operations. The pool managers, when seeding began, expected to obtain 85 per cent, of tbe acreage. The failure was considered a triumph for the grain exchange marketing system.] THE SEASON’S PROSPECTS. ’ HIGH PRICES ANTICIPATED. NEW YORK, June 20. (Received June 21, at 9.15 a.m.) Leaders on the Chicago grain exchange state that American farmers may expect high prices for wheat this year, with the exporting countries unable to meet the demand. Constant rains and floods and a cold spring have retarded planting and cultivating, and unless perfect weather is experienced from now until after threshing it is feared that farmers will have very little crop for the market. While farmers in certain territories may profit from higher prices, it is doubtful whether tho industry as a whole will be benefited.