CANADIAN WHEAT

Southland Times, Issue 20770, 10 May 1929, Page 7

CANADIAN WHEAT

CONGESTION BELIEVED TEMPORARY

EXPORT BUSINESS NORMAL,

Vancouver, May 8

A Winnipeg message states that the situation in the grain congestion in the east is regarded as merely temporary, according to Mr George Mclvor, general sales manager of the Canadian Wheat Pool. Local pool officials deny the rumour that European buyers were boycotting Canadian wheat and awaiting lower prices.. “We are continuing a normal export business through both the Pacific and the Eastern ports,” stated Mr Mclvor. “The present situation is due to the early opening of the navigating of the Great Lakes and the delay in opening up the Lachine and Erie canals.”

Meanwhile Montreal reports that there is no relief of the congestion in sight, three more freighters having arrived in the harbour.

■ A message from Ottawa states that in the House of Commons, Mr Robert Gardiner, leader of the United Farmers of Alberta, stated that the lack of export orders was the cause of the tie-up.

The Royal Bank of Canada in a prepared statement, states that so many uncertain factors enter into the case that any accurate forecast of the trend of whea prices is practically impossible, but in general the ■world wheat situation is regarded as relatively satisfactory. In spite of the fact that the estimated prepared wheat acreage in Canada in 1929 is 1,000,000 acres larger than in 1928, it is predicted that the prospective world acreage for the 1929 crops will be somewhat below that of 1928. —Australian Press Association. VANCOUVER EXPERTS’ SUGGESTION. MARKETING SYSTEM AT FAULT. Vancouver, May 8. In connection with wheat prices local experts gave out the following advice to prairie growers, the railways and great financial interests: “Scrap the system of marketing which ties up wheat in uneconomic winter storage on the east-bound export route till forced to meet competitive grain from the Argentine and Australia. Remove the artificial barriers which prevent placing Canada’s grain on the world's markets immediately following the harvest. Move the wheat’westward to Vancouver as soon as it is threshed and rush it to the markets through a port free to shipping the year round.”—Australian Press Association.