THE WHEAT POSITION.

Otago Witness, Issue 3275, 20 December 1916, Page 27

THE WHEAT POSITION.

(By. Cable.) English wheat is at 80s per quarter—a record. The risible supply of -wheat is 70,184 ; 0G0 bushels. In the Federal House of Representative;; Mr Hughes announced that the new wheat crop and the balance of last season's grain, not exceeding 3,000,000 tons, had been sold to Great Britain at 4s 9d ner bushel f.o.b. An immediate advance of 2s 6d per bushel had been made to the farmers. Sufficient grain had been kept for home use, and the remainder would be shipped during the first six months of 1917. The preliminary estimate of the new crop was 145,000.000 bushels, but, allowing for damage by rains and rust, the vield would probably rot exceed 120,000,000 bushels. In the New South Wales LegislativeAssembly Mr Grahame, Minister of Agriculture, stated that during the last six weeks rust and storms had reduced the wheat crop from 60,000,000 to 40,000,000 bushels. Bearing upon the Minister's statement as to the reduction in the wheat yield, the summer has so far been exceptionally wet, Alternating heavy rain and wind storms and the great heat of the past few weeks have caused serious damage. Rust is widespread and increasingly prevalent. Wide areas have been battered down, so that it will bo an expensive process reaping, even if that is possible. Summer fruits are also suffering severely, and much fruit is rot ting on the trees owing to continuous rain. On the other hand, green crops are superabundant,' and the pastoral outlook is excellent.