WHEAT MARKETS

Manawatu Standard, Volume L, Issue 254, 22 September 1930, Page 2

WHEAT MARKETS

3.30 P.M. EDITION

EFFECT OF RUSSIAN EXPORTS. (United Press Association—By Electric Telegraph—Copyright.) Received September 22, 1.0 p.m. LONDON, Sept. 21. The international wheat markets continue to be dominated by the dumping of Russian wheat. It is known that since September 1 eighty-five steamers, aggregating 573,000 tons, have been chartered to carry grain from Russian Black Sea ports to Mediterranean, Continental, British and Scandinavian ports. There are also a number of charters, of which particulars have not been disclosed, and it is believed that 120 ships are now under charter for early shipment. So it is evident that intensive Russian shipments must continue for some time.

From the beginning of the year to September 17, Russian exports totalled 853,000 quarters, compared with nothing last year. The London Grain Reporter states: “Whether this movement constitutes a threat to Canadian, Australian and Argentine exporters may be debatable, but it is significant that all three markets are chartering with extreme caution in contrast to the Russian shippers.” Another newspaper writes: “The situation created by Russia is serious not only from the viewpoint of the growers and other countries, but also in regard to world trade.”