WORLD WHEAT

Manawatu Standard, Volume LIV, Issue 306, 23 November 1934, Page 7

WORLD WHEAT

LOWERING OF STOCKS. EFFECT OF LOWER PRODUCTION. IMPORT POSITION NOT BRIGHT. (United Press Association—By Electric Telegraph—Copyright.) Received November 23, 9.45 a.m. BUDAPEST, Nov. 22. The Wheat Advisory Committee, in a survey of the world situation, says there is every reason to suppose that before August, 1935, world stocks will be lower than at any time since 1928. It is estimated that, owing to the small production in Canada and the United States, supplies next year will be about 785,000,0110 bushels, which is 350,000,000 below 1934-5. There will be a tremendous improvement in the stock position, as stocks will 'be reduced from the 500,000,000 bushels above normal on August 1 last to only about 150,000,000 above normal on August 1 next. Regarding import demands, the committee strikes a pessimistic note. It says that, owing to the present policy of most of the importing countries protecting their wheatgrowers against foreign competition, combined with an increased yield in most European countries, there seems no reason to anticipate an annual European demand exceeding about 450,000,000 bushels in the next few years, while it is improbable that non-European countries will import more than 150,000,000 bushels.