COMMERCIAL.

Timaru Herald, Volume CXXIII, 17 December 1925, Page 8

COMMERCIAL.

[WHEAT TRADE. Cable—Press Association—Copyright I _ LONDON, December 15. The ramification of the wheat trade in Britain is being exhaustively investigated by the Food Council. Several witnesses admitted that the Russian estimates were wholly inaccurate. At first they had the effect of reducing prices, but when the truth was xtevealed that Russia could not export for some time ,the market was affected in the opposite direction, .and the present price is too high. ,Mr 'Vanburgh, on behalf of the Dreyfus Company, gav e evidence that the actual shipments from Russia were only one-tcnth of what was promised. The bulk of the contracts have since been : conceded on the Soviet orders, where- : upon the market turned and Canada took full advantage of the position. The differences in Australia, Argentine and the United States mad e Europe almost wholly dependent upon Canada. Sir R. Robson, the Government’s wartime purchaser, referring to the reduced estimates from Australia and Argentine, said the prospective over-sup-ply bad changed to such a position that unless everybody economised there vi’ould not be sufficient wheat to so round. b