WHEAT HOLD-UP
"GREATEST SINCE JOSEPH"
LONDON, 23rd February. The* wheat position is a difficult one. There are all sorts of rumours current on both sides of the Atlantic about heavy purchases of Manitoba wheat for shipment to England in the spring, but no one can confirm them. If correct, these sales may be taken as an indication that the Canadian wheat pool has changed its policy of holding up wheat. -
It.is suggested that this may presage "the end of the greatest hold-up since Joseph," as a leading wheat trader described it in the "Daily Telegraph." He proceeds: "There is no one conversant with the" grain market who will hazard an opinion regarding the future. The situation is too artificial. It is unique, therefore, and no sort of precedent counts. What end can be predicted'to an operation which has been going on for two years? Some grain stocks in North America have been there since August, 1928. All that, time carrying charges have been accumulating, and are now estimated at about 12s- per" quarter, or 30 per cent, of the present prices."
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Evening Post, Volume CIX, Issue 46, 24 February 1930, Page 12
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181WHEAT HOLD-UP Evening Post, Volume CIX, Issue 46, 24 February 1930, Page 12
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