GRAIN DEALINGS.

Manawatu Standard, Volume LIV, Issue 288, 2 November 1934, Page 9

GRAIN DEALINGS.

PEGGING THE PRICES

WINNIPEG, Oct. 31

It was announced to-night by the Winnipeg Grain Exchange that wheat prices will be pegged at 75 cents a bushel for December futures and 80 cents a bushel for May futures, the pegging to become effective on Thursday. The pegging was made at the request of the Federal Government. Mr J. I. McFarland, general manager of the central selling agency, declared that the renewal of outside selling recently complained of had been responsible for the action taken. The duration of the pegged price was not set. Last year, from August 15 to September 14, a pegged price of 70 cents on October futures was in effect. October futures for this year terminated to-day and only December and May futures will appear on the board to-morrow. “While the Government has in mind certain restrictions that will prevent a recurrence of the heavy selling operations witnessed in the past few months,” said Mr McFarland, “it will take some little time to put these into effect. In the meantime the Government is not prepared to stand by and watch the demoralisation of the Canadian farmers’ market by interests outside the Dominion.”