DUMPING WHEAT

Evening Post, Volume CX, Issue 72, 22 September 1930, Page 12

DUMPING WHEAT

RUSSIA PULLS DOWN PfilCE United Press Association— By Electric Telegraph—Copyright. (Received 22nd September, 10.30 a.m.) LONDON, 20th September. International wheat maiicets continue to be .dominated by. dumping of Russian wheat. It is known that siucc Ist September' eighty-five steamers, aggregating 573,000 tons, have been chartered to carry grain from the Russian Black Sea ports to the Mediterranean and Continental, British and Scandinavian ports. There are also a number of charters of -which particulars have not been disclosed, and it is believed that 120 ships are now under charter for early shipment. It is therefore evident that intensive Kussian shipments of wheat must continue for some lime Prom the ■ beginning of the year to 17th September, Bussia-n ejrports have totalled 6,853,000 quarters, as compared with njl last year. The "London. Gram Reporter says whether this movement constitutes a threat to the Canadian, Australian, and 'Vr^entine exporters may be debatcuble, but it is significant that all three markets are chartering with extreme caution in contrast to the Russian shippers. 'Another newspaper writes that the situation created by Russia is serious, not only from the viewpoint oi growers -and other countries, but in regard to world trade. Wholesale values are being depressed just when the world so urgently needs improvement in prices which alone can presage industrial recover.