U.S. WHEAT MARKET.

Press, Volume LXVII, Issue 20175, 2 March 1931, Page 10

U.S. WHEAT MARKET.

BOARDS DECISION TO " EXPORT. ; *" ~ ■ i A* VABXINO ' REGEPTION.' ; Qrinra rxzss • ABBo'ciATiotf—iir * ELkciaic . March Ist,' 11.10 p.m.) ■'■■'■■■ NEW YOBK,'February; 2B., ■ . the-wheat -market; responding t>y lowered- prices yesterday, arid a pro- ' tei * * roln tne European that tho "step savours of! Russian dumping, the United States' Farm 'Board's announce- . 'went of' its intended export of wheat 'has received a varying reception. . Mr A, Legge, the chairman, characterised the European comment as "bunk.". He said that Bussian sales word far be.low.the prevailing world prices, "but it . is certain that any wheat exported from tiie United States will not be sold at leasthan the prevailing world prices." Be insisted that probably it would command even higher price, since "high quality wheat was now held exclusively by.the United States and Canada." The General Manager, Mr McFarlaad, of the Canadian Wheat Pool, called the announcement of the decision to export the most constructive and reassuring statement that has been made so far,- in that it fixes the amount to be exported. The statement continued to have a depressive effect at Chicago on old May. .meat prices to-day, which were bolstered up only by the purchases by the Farm Board.

EMBARGO ON RUSSIAN TRADE. ■if . .. . ' SUPPORT THROUGHOUT f CANADA. V -,r •■;■■■ ■ (WHIB FBKSS ASSOCIATION—BT lUCTMC TBI/EOBAfH—COPTtIUQHT.; f (Received March Ist, 5.5 p.m.) ■ OTTAWA, February 28. The baa on Russian importations is •twjngjy supported throughout' the W®ntiy and definitely disposes of tho • Soviet offer to buy ten million dollars wectfc of farm implements for three Wfflion dollars .worth of Russian coal,' md'the balanoo in 'gold. Oownd J. Mackie. who made t>ie uFer « behalf of the Soviet, declares twt tap embargo is an unfriendly gestg» ionuxb Russia and kills any lyafag )wpa lot a whfeat conference. 3{i» lomber, I tad. and fur - interests ac- , OTTAWA, February 27.