OUR WHEAT SUPPLIES

Dominion, Volume 9, Issue 2716, 10 March 1916, Page 7

OUR WHEAT SUPPLIES

' SUFFICIENT FOR OUR NEEDS

THAT CANADIAN DEAL

A considerable quantity of tho new season's wheat lias been threshed in tho Canterbury district, and an interim return has been prepared to the ordci of the Prime - ' Minister showing _ tho average yields in the different districts, 'Thrashing done up to date shows that the average yield per acre in the district north of the Wainiakariri River is 21.16 bushels, between the Waiiliaka-. riri and the Raikaia Rivers 18.38 bushels, in Ashburtou County 19.82 bushels, in South Canterbury 22.3 bushels, and in Waitaki County 14.27 bushels. _ — - Early in tho year Mr. Massey visited ■the Canterbury district, and. travelled through a lot of the wheat country. On his return to Wellington ho made this statement: "My opinion at present is that tho yield this year will not average more than !i0 bushels to the acre." Tho returns 'are making out Mr. Massey'g estimate to have been a remarkably close one. Mr. Massey says now that tho roturns to hand go to show that wo shall have enough wheat for our own requirements. Last year, at a tiino when we wero very short of. bioadstulfs, and tho wheat supplies in Australia were not enough to feed tho Australian population, Mr. Massey, on behalf of the Government, bought a • million /bushels of July wheat in Canada, or. rather in tho laugimgo of tho wheat pit ho bought ''July options." Tho price was hutch below, ruling rates in New Zealand at tho time, but freights from America wero ruinous at any time after July. This mado it inadvisable to bring that wheat hero unless wo needed it'badly. Wo continued to do without it, and tlid Canadian Government, who had put the deal' through for us, stored tho wheat on our account. A. little time ago, Mr. Massey, has been watching tho wheat market overseas very closely, sold the wheat to the Canadian Government. Referring to the sale yesterday, Mr. Massey ■ said that tho Government had got a good price. "We didn't lose much on tho deal," he said, "aiid it was worth more to us than' all that wo lost."