GRAIN MARKETS

Greymouth Evening Star, 2 November 1931, Page 5

GRAIN MARKETS

RISE IN PRICES [BY CABLE —PBESS ASSN. —COPYBIGHT.] CHICAGO, October 31. With increased values of 328 million dollars in the prices of all the principal grains since October 5, Of which the wheat share of the increase has been six-ty-seven million dollars, and maize 216 million dollars, the grain, traders here aserted that there ate indications from all portions of the world that presage a massed improvement in the American grain market within the next few weeks, which will rival the heavy shippings of grains during the World War days. The recent exports of American grains have been increasingly heavy due to an apparent European realisation that the sole available supplies are now held in the United States'and in Canada *' Mr. Stone of the U.S.A. Farm Board , admitted that the Government-financed grain holdings are now moving at an accelerated rate. He stated that the Farm Board had authorised the Grain Stabilisation Corporation again to enter on the futures trading market. CANADIAN EXPECTATIONS WINNIPEG, October 31. The grain broker are predicting that the wheat price will rise to a dollar a bushel by Christmas. Leading United States dealers are hastily opening offices. They declare that a world shortage is looming, with North America holding command through a slump in the Russian shipments, and shortages in Europe. The Canadian Tradte Department confirms remarkable falling off in Russian shipments of wheat. Mr. Stevens states, the Russian , wheat shipments for the week ending October 29 were 2,000,000 bushels, as compared with 4,000,000 bushels last week and three and a-half million for the same week a year ago.

May wheat at Winnipeg closed at *7O cents, which is up a cent, and a quarter a bushel. It is estimated that 50 million dollars has been added to the'Canadian grain values in the last five weeks.