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Wanganui Chronicle, Volume 83, Issue 169, 20 July 1939, Page 12

Glutted W heat Market. The seriousness of glutted (r.nc'ifions in the wheat markets of the I world, from the viewpoint of produc- ' ers, was stressed by Mr. .1. Ell;- - corn merchant, of Hull, who arrived by the |_Mataroa on Saturday mo-mug on ° i br : ef visit to New Zealan I. He said j the world harvest had piocluced a • heavy carry-over in the past two seasons. It appeared that the coming crops in Canada, where a series or droughts had been ex •orie i? .• 1, would be the largest for a number of years, but producers who had noped to recoup some of the losses of pist Nears were confronted with the prospec: of abnormally low prices. Englisn wheatgrowers were partially protected ny the Government’s subsidy, which assured them of a return :th.» it -’-Os a quarter, but this did not enable them to realise a profit. ' v - 1