THE WHEAT INDUSTRY

Otago Daily Times, Issue 21195, 28 November 1930, Page 11

THE WHEAT INDUSTRY

NEXT AUSTRALIAN CROP. ASSISTANCE FOR PRODUCERS. (United Press Association.) (By Electric Telegraph-^—Copyright.) SYDNEY, November 27. The Minister of Agriculture (Mr W. F, Dunn) announced that * steps were being taken to stabilise the wheat industry. In the meantime the Department of Agriculture would assist the primary producers to put in next season’s crop. , DUMPING BY RUSSIA. LONDON, November 26, (Received Nov. 27, at 10.30 p.m.) In'the House of Commons Lieutenantcolonel A. H. Gault' (Con.) directed attention to the dumping of foreign cereals into Britain, and moved a motion deploring the Government’s inaction in this connection. He said that out of 71,000,000ewf of wheat imported from January 1 to September 30 Russia sent 3,500,000 cwt at half the cost of production in Britain. This was grown on State farms by conscripted labour under a tyrannic Government.

Mr G. M. Gillett (Under-secretary of States for Overseas Trade), replying, said that the yearly import of 6,000,000 cwt from Russia was hardly an important factor. It was probable that the exporting countries were having to sell below cost of production. The motion was defeated by 224 to 139.

THE SURPLUS IN AMERICA. BEING REDUCED EVERY DAY. WASHINGTON, November 27. (Received Nov. 27, at 5.5 p.m.) Mr A. B. Legge (chairman of the Farm Board) declared that the wheat surplus was being reduced every day by large feeding to, live stock, totalling “.well over 200,000,000 bushels.” He said: “ The feeding of wheat to live stock is much larger than was expected. I advise millers and others who need wheat to cover their requirements now.” He also stated that Russian wheat exports during the next five years would increase bn such a scale that it would. be unprofitable for American growers to ship wheat. abroad. He therefore, advised limitation of the United States production to domestic wheat requirements, l and. advised further restriction bh„ grain speculation, since the same wheat Was being sold over and over. , :

In conclusion,, he stated that when Russia .again enters, the world markets on a large scale “dollar wheat”-will be a rarity. Liverpool prices will then be .below a dollar, but the United States prices will be somewhat higher if the production is limited' to the domestic demand. v