WORLD'S WHEAT

New Zealand Herald, Volume LXXIII, Issue 22489, 5 August 1936, Page 13

WORLD'S WHEAT

RISK OF SHORTAGE POSSIBILITY REVIEWED DROUGHT IN AMERICA THE OUTLOOK DOUBTFUL Ry Telegraph—Press Association —Copyright (Received August I, !i..'5 p.m.) LONDON, August 1 Although it is too early to think in terms of a wheat shortage, the possibility of one undoubtedly exists, says the Financial News. It is too late for the wearher to save the spring crop in the United States, and the position as regards the Canadian crop, even if it be assumed that the damage caused by drought has been over-stated, gives causa for concern. Russia has suffered from drought, and it is doubtful whether she will export any considerable quantity. A great deal depends upon the crops in Australia anrl Argentina. If these fail, or even if they are below the average, the position might be serious. AUSTRALIAN CROP PROMISING PROSPECTS EXPECTATION OF SURPLUS (Received August 4, 0.25 p.m.) SYDNEY, August 4 According to leading agents in Sydney the prospects for the Australian wheat crop are very promising. It is estimated that the Commonwealth will produce 150,000,000 bushels, or 10,000,000 more than last year, and it is expected that the surplus will be at least 100,000,000 bushels.

Weather conditions in South Australia, Victoria. Western Australia and Queensland have been most favourable, but the southern part of New South Wales, namely, the Riverina district, where a considerable acreage is under wheat, has had too much rain. In fact, parts of the wheat belt at present are flooded. However, it is not expected that these crops will suffer unduly provided that the weather improves.