WHEAT MARKETS.

Hawera Star, Volume XLV, 15 March 1926, Page 5

WHEAT MARKETS.

CENTRAL POOL PROPOSED FOR AUSTRALIA. BENEFITS OF CO-OPERATION. BY CABLE—PRESS ASSOCIATION—COPYRIGHT. OTTAWA, March 12. ' Interviewed at Montreal, Mr McDonald, of South Australia, who represented Australia at the recent world’s -wheat conference at St. Paul; Minnesotta, said that immediately upon his return he would sound the present Australian wheat pools to ascertain their sentiment towards the creation of a central pool similar to that in Canada, which he unqualifiedly advocates. He pointed out that the Canadian pool sells two hundred million bushels, and if Australia, with its seventy-five to a hundred million bushels exportable surplus, co-operated in putting this supply on the world’s markets it would be one of the most desirable steadying influences, not for boosting the price. Co-operation would mean treating the market rightly. Thus, when it is depressed the pools could with benefit limit the supply and prevent the utter demoralisation which often results when there is no regulation. Mr McDonald stressed Australia’s superior position, particularly as its wheats are harder and are required for blending purposes. Australia could therefore make its influence fully felt in any scheme of co-operation. He reiterated the necessity for unanimity in Australia. There was no need for the State pools to be worked behind closed doors. Asked whether Argentine might not negate any effort at world market regularisation by sending its wheat out regardless of the activities of the Canadian and Australian pools, Mr McDonald said he believed Canada and Australia working together would en-. sure the steadying - of the market, but that the co-operation of the Argentine could also be expected in time.