THE WORLD’S WHEAT

Otago Witness, Issue 3757, 16 March 1926, Page 34

THE WORLD’S WHEAT

POOLING OF SUPPLIES. OTTAWA, March 13.

Interviewed at Montreal Mr M‘Donald of South Australia, who represented Australia at the recent world’s wheat conference at St. Paul, Minnesota, said that immediately upon his return lie would sound the present Australia wheat pools to ascertain their sentiment towards the creation of a central pool similar to those in Canada, which he unqualifiedly advocates. He pointed out that the Canadian pool sells 200,000,000 bushels, and if Australia with its 75,000,000 to 100,000,000 bushels of exportable surplus, co-operated in putting its supply on the world markets it would be one of the most desirable steadying influences, and not for the boosting cf prices. Co-operation would mean treating the market rightly and thus when it was depressed the pools could with benefit limit the supply and prevent the' utter demoralisation which often resulted when there was no regulation. Mr M’Dcnald stressed Australia’s superior position, particularly as its wheats were harder and were required for blending purposes. Australia could therefore make its influence fully felt in any scheme of co-operation. He reiterated the necessity for unanimity for Australia, and said thero was no need for the State pools to bo worked behind closed doors. Asked whether Argentina might not negative any effort at wcrld market regularisation by sending its wheat out regardless of the activities of the Canadian and Australian pools, Mr M‘Donald said he believed that Canada and Australia working together would ensure a steadying cf the market, but that the co-opera-tion cf Argentina could also bo expected in time.