GRAIN PRODUCTION

Greymouth Evening Star, 14 August 1933, Page 7

GRAIN PRODUCTION

U.S.A. RESTRICTION CAMPAIGN. [BY CABLE —PRESS ASSN. —COPYRIGHT.] WASHINGTON. August 12. The Department, of Commerce has opened a preliminary wheat acreage reduction campaign, with a publication brochure entitled “A Balanced Harvest.” It is understood that if other wheat-producing countries agree to an acreage curtailment, the Administration is prepared to ask the domestic growers to make a cut of 15 per cent.. However, it is believed that in the event of a failure to secure world action, the Department will limit the reduction to from 8 to 10 per cent.

Some 130 million dollars, raised through the 30 cents per bushel processing tax, will be paid to the farmers in proportion to their reductions. C ANA DI AN Q UOT AT lONS. WINNIPEG, August 12. Tumbling spectacularly from a maximum loss of 7 1-18 cents per bushel, wheat futures were saved today by export purchases estimated at close on two million bushels, which left th c . values 6 to 6.’i cents lower, at the close. The October price 1 * is 72] cents, December '74, May 78], Events on the prairies are making certain further heavy reductions in the wheat harvest. Members of the exchange and the growers are urging the Government to abandon the idea of placing Canada in the ranks of these nations pledging themselves to an arbitrary acreage restriction. Only a few officials of the Western Provinces had advised tin* Government prior to the London Conference, and that, was when the prospects were good for a 400 million bushels yield, with wheat at 50 cents. All that is now changed.