THE WHEAT INDUSTRY

Otago Daily Times, Issue 21197, 1 December 1930, Page 9

THE WHEAT INDUSTRY

A CANADIAN SUGGESTION. REDUCTION OF ACREAGE. . (United Press Association.) (By Electric Telegraph—Copyright.) OTTAWA, November 28. (Received Nov. 30, at 6.5 p.m.) A message from Winnipeg states that Mr John M Farland, a prominent grain man of Calgary, has been appointed general manager of Canadian Grain Cooperative Wheat Producers, Ltd., which is the central'selling board for the Canadian wheat pool. Mr MTarland slated that he accepted the post only from a sense of public responsibility in what he considers to be a national emergency. * e j* accept no salary for hia services in disposing of the wheat now held by the pool. He stated that while the situation was serious it was not without elements of optimism. With grain sellnig below the costs of production, consumption was being largely stimulated, and ( the situation offered speculators an opportunity for entering the market on an investment basis. The position of the pool was such that there was no possibility of dumping taking place. The policy of orderly marketing would be continued, he said. He also urged a reduction of the grain acreage. “ Our Governments and the farming organisations should take every step to urge acreage, reductions upon other countries while lasting™ similar measures at home. While this may be considered impossible it must be done.” Mr M‘Farland drew attention to the wheat acreage increase since Russia ceased to export during the war, DurV™ A 8 years Russia ’ s total export was 160.000. bushels, and about 60,000,000 of that had been exported during the past few months. "We cannot therefore accuse Russia of adding much to our surplus wheat stocks, but I think it is well that our people should have an actual picture of Russia as she was before the war and as she is now. We have accused Russia of dumping, and she- certainly has been pressing wheat on the European markets, but so far as dumping is concerned she has not Sold wheat at such a big discount under world prices as the Argentine did last year. The fact remains, however, that under the leadership of Russia Beilin" prices declined to record low levels.” He pointed out that acreage had increased to such an extent that there would be a surplus, even if Russia was. still out of the picture. . POOL’S ANNUAL REPORT. WINNIPEG, November 29. 1 (Received Nov. 30, at 5.5 p.m.) The wheat pool’s annual report states that last year the pool held 130,000,000 bushels of wheat, and the carry over on August 31 was 43,000,000 bushels. Export sales totalled 56,000,000 bushels, compared with 108,000,000 bushels in the previous year, while 23,000,000 bushels were consigned to the United Kingdom, compared with 35,000,000 bushels in the two preceding years. Tariffs brought a heavy decline in the sales to Italy, Germany, and France. The exports to the. Orient were 4,000,000 bushels, compared with 17,000,000 bushels in the previous year, due to the trouble in China and the silver monetary troubles. The total that pool members delivered was over 119.000. bushels of wheat, but the Canadian wheat pool’s export sales were cut almost in half during the year which ended on August 31. The annual report of the pool’s central selling agency states that the past 12 months had been the most difficult in the history of the pool. SALES IN FRANCE. NEW YORK, November 29. (Received Nov. 30, at 5.5 p.m.) “ France will be substantially in the market for Canadian wheat this winter,” said Mr Stevens, the Canadian Minister of Trade and Commerce, on his arrival from the Imperial Conference. Ho expressed the belief that the arrangements made in France for the sale of Canadian wheat would last for several years. Touching on the question of a revision " f the existing trade treaty between Canada and Australia, Mr Stevens believed that an arrangement which would be more satisfactory to both countries would be brought about, but he declined to say what these relations might be. Not until after a conference in Ottawa with the Australian Minister of Markets (Mr Parker Maloney) could any announcement he made on the course of procedure towards revision.