CANADA’S GRAIN

Hokitika Guardian, 9 May 1929, Page 5

CANADA’S GRAIN

(United Press Association. —By Electric Telegraph.—Copyright.) (Received this day at 11.25. a.m.) OTTAWA, May 8. Til tlie Commons, Robert Gardiner, (Leader of the United Farmers of Alberta) stated that the lack of export orders was the cause of the tie up. 'File. Royal Bank of Oniuftla in a prejpared statement,, points out that so many uncertain factors enter into the o.tso that any accurate (forecast of the flfond of wheat prices is practically impossible, but in general the world whent situation is regarded as relatively satisfactory. In spite of the fact that tbf estimated prepared wheat acreage in Canada in 1929 is a million acres larger than in il is predicted that the .prospective world acreage for 1929 crops will lie somewhat below that of 1928. A HOLD Ul’. MONTREAL. May 7. The eastern grain tie up lias reached an absolute paralysis with ninety loaded Lake freighters hold here and Port Colborne vessels paying off crews, and elevators jammed to the roofs. There is absolutely no grain moving from. Montreal, and nearly twenty million bushels here,’ three million at Tort Colborne, with one thousand railway ears 1 on the siding at Ottawa. The dumping of Argentine wheat on the European market and congestion of imported wheat, at German ports is due to ice in the canals to the interior (riven as causes for the Canadian grain congestion. Reports that western wheat pools are holding up /prices for shipment through eastern ports arc discredited. Prices qivl'ed fv 'the central selling agency would bo the same in Vancouver as in .Montreal. That the world surplus is responsible for the congestion is the opinion of Matherwell (Minister of Agriculture). A radical depart lire in financing the huge western grain crops are said to 'bo under consideration by banks, in western grain interests. , WHEAT PRICES. VANCOUVER, May 8. A message from Winnipeg states prices are fractionally higher to-day. The congestion has not improved at the shipping ports. BLOCK IN SUPPLIES. VANCOUVER, Mnv 9. A Winnipeg message states the situation in the grain congestion in the East .is, regarded asyperel.v temporary, according to George Mdlvdi-~(general sales maiyjtger. of. thf?'?C(f median wheat pool) ' ... • Local pool officials deny the ’ rumour that European buyers were boycotting Canadian wheat, awaiting lower pricesj We are continuing the normal export business through both Pacific and Eastern ports, Stated McTvor. , The present situation is due to the early opening of the navigating Great Lakes ; and the -delay in opening up Luchino and Erie canals. Meanwhile Montreal reports no relief of the congestion is in sight,.three more freighters! having arrived -in the harbour. CANADA’S WHEAT. VANCOUVER, May 8. Tn connection with wheat prices (local experts gave out the following advice to prairie growers, railways and great financial interests: —“Scrap the system of marketing which ties up wheat in uneconomic winter storage on the east bound export route till forced to meet competitive grain from Argentine and Australia, remove artiItoial barriers whioh prevent placing ■Canada’s grain on the world markets immediately following harvest. Move the wheat westward to Vancouver as soon as threshed and lii.-h to market through a port free to shipping the year round.”