WHEAT PRICES RECOVER

Taranaki Daily News, 19 November 1930, Page 7

WHEAT PRICES RECOVER

ASSURANCE BY THE POOL.

ALLEGATION OF TAMPERING.

By Telegraph—Press Assn—Copyright. Winnipeg, NovPl7A sharp recovery from Saturday’s low levels, the lowest ever recorded, was made to-day when wheat advanced 3 to 3 7-8 cents per bushel. Trade was active at the close and exceptionally firm. November deliveries closed at 63 3-b cents, December 62} cents, May 671 cents; July 69 1-8 cents. y The main, factor in the recovery was th . reassuring announcement from the lending banks that the wheat pools would°not be forced to dump supplies on the market.

The Premiers Messrs. Bracken, Anderson and Brownlee, of the 1 Manitoba, Saskatchewan and Alberta provinces, consulted with banking interests to-day regarding the wheat prices situation. It was stated that successful interviews had been held.

“We have come to save the-economic structure of Western Canada,” Mr. Bracken said. , . / . Suspecting Canadian grain consigned to the British Isles is being tampered With, the Dominion Grain Commission has ordered an investigation. British millers complain that the wheat is found to contain an insecticide. A preliminary investigation indicates that the chemical is not used in Canada.