THE WORLD’S WHEAT.

Lyttelton Times, Volume CXVIII, Issue 18572, 26 November 1920, Page 6

THE WORLD’S WHEAT.

RESULTS OF AMERICAN FARMERS’ STRIKE. JJy Telegraph—Press Association—Copyright. Australian and N.Z. Cable Association. NEW YORK; November 23. The refusal of farmers to sell grain in the attempt to increase the price to three dollars a bushel, caused nine banks in North Dakota to close within ten days. The institutions had granted farmers heavy credits, and could not realise on the loans when the grain remained unsold. AUSTRALIA’S BUMPER HARVEST. SYDNEY, November 25. With a bumper harvest in view, arrangements are being completed for chartoring tonnage on a commensurate scale. Much has already been secured, but it is not yet sufficient to move tho great quantities of wheat and wool which will have to be handled. The first shipments of wheat eommence early in December. NEW LEVEL OF WHEAT PRICES. LONDON, November 24. The Food Controller, in ,a speech stated that tho world’s price of wheat had been readj&ted, giving a better indication of the probable course of prices of foodstuffs and commodities generally than any other article. The fall in wheat prices in America and Australia marked the commencement of a real change in tho economic situation and a definite lower level of food prices would prevail in Britain during 1921. The rationing of sugar would cease on November 29.