PRICE OF WHEAT

Manawatu Standard, Volume LII, Issue 246, 16 September 1932, Page 7

PRICE OF WHEAT

FARMERS DISSATISFIED

HOLDING OFF THE MARKET.

FAIR PROFIT WANTED

(United Press Association —By Electric Telegraph.—Copyright.) Received September 16, 9.20 a.m. CALGARY, Sept. 15.

Dissatisfied with tho price of wheat, tho Alberta farmers aro holding their products off tho market and selling only when money is required to pay their debts, according to an announcement by the Alberta AVheat Pool today.

Tile pool declared that the movement was not in the nature of a strike, but was started by tho fanners in the effort to obtain what they consider a fair price. At present they receive an average of 32 cents per bushel for No. 1 northern. It is unknown at what figure the fanners would start marketing all their wheat, but they refuse to sell until they can obtain a price that will cover the cost of production and assure them a fair profit. The Alberta wheat crop this year is expected to bo around 160,000,000 bushols. Tho farmers will bo unable to hold any great amount because of insufficient storage facilities. Thero is a general movement over the whole province, however, to use all tho possible storago space.

OTHERS FOLLOWING SUIT,

Received September 16, 9.20 a.m. WINNIPEG, Sept. 15

Grain men hero expressed no surprise at tho action of the Alberta farmers. The opinion was voiced that the farmers of Manitoba and Saskatchewan were virtually following suit. This view is supported by tiro lightened hedging pressure on the Grain Exchange" in the last two days.