CANADIAN WHEAT POOL

Greymouth Evening Star, 2 December 1930, Page 3

CANADIAN WHEAT POOL

YEAR’S TRADING RECORi:). [BY CABLE —PBESS ASSN. —COPYBIGHT.] WINNIPEG, November 29. The wheat Pool’s annual report states that last year’s pool held 130 million bushels of wheat. The carryover on August 31 was forty-three million bushels. The export sales totalled only fifty-six million bushels, compared with 108 millions in the previous year. Twenty-three million bushels was conveyed to the United Kingdom, compared with 35 millions in each of the two preceding years. Tariffs had brought a heavy decline in Canadian sales to Italy, Germany, and France. The . exports to the Orient were drily four, million bushels compared with 17 million bushels the previous year, due to the trouble in China, and til© . silver monetary troubles, The total the pool members delivered was over 119 million bushels. The annual reportjof the pool’s central selling agency reports that the past twelve months’ period has been characterised as the most difficult year in the history of the pool.

Mr McFarland,, head of the Wheat Pool, drew attention to the fact that the wheat acreage had increased since Russia ceased to export during the war. During the prist 16 years Russia’s total export was 160,000,000 bushels. About 60,000,000 bushels of that total had been exported during the past few months. He said: “We cannot, therefore, ricCuse Russia of adding much to our surplus wheat stocks, but I think it well that our people should have an actual picture of Russia as She wris before the war, and as she is now. We have accused. Russia of dumping, and she has certainly been pressing wheat on European markets, but so far as dumping is. concerned, she has not sold her wheat at such a big discount under the world price as the Argentine did last year. The fact remains, however", that under the leadership of the Russian selling, the prices have declined to record low ft

levels.” Mr McFarland pointed out that the wheat acreage had increased to such art extent that there would be a surplus even if Russia still were out of the picture. FRANCE A BUYER. NEW YORK, November 29. France will be substantially in the market for Canadian wheat this winter, so the Minister of Trade and Commerce, Mr Stevens, said, on his ar ; rival from the Imperial Conference. He expressed the belief that arrangements had, been made in France for the sale of, Canadian wheat which would last for several years. CRISIS IN THE ARGENTINE. BUENOS AIRES, November 30. The world wide depression in wheat prices has removed Argentina’s prospects of regaining prosperity through her new crops, which promise to be the greatest ones of recent years. The Government is preoccupied in attemptting financially to aid the farmers to harvest their crops, admitting that the

country must have grain regardless ot the Idss or profit to the growers. Authoritative estimates place last year’s unfavourable balance of inter(rational payriieiits against Argentina at seven Hundred million pesos, with a similar unfavourable balance threatened this year. Farmers have already mortgaged tlielr lands, buildings, machinery, tools, and stock to the limit.