WHEAT POOL

Hokitika Guardian, 20 November 1929, Page 5

WHEAT POOL

WHEAT CO-OPERATION,

[United Press Association—By Electric Telegraph.—Copyright.]

(Received this day at 11 a.m., NEW YORK, Nov. 19

Co-operation between the Canadian Wheat Pool and the Farmers’ National Grain Corporation of United t States is a possibility, in the opinion of Alexander Legge (Chairman of the Federal Farm Board). The Pool and Farm Board have engaged in friendly greetings. Legge said the- Board also had correspondence with Argentina, but in view of the present conditions it was impracticable for the wheat growers of United States and Argentina to co-operate. WASHINGTON, Nov. 19.

Mr Legge previously made clear as far as tlie organisation of the United States producers were concerned there would be nothing but co-opera-tion with Canadian reorganisation and such co-operation it was suggested would be most informal, just as two industrial co-operations might have a gentleman’s agreement With legat'd to prices and division of markets, so the wheat organisation might arrange its affairs. It js felt the farm headquarters in Washington of Canadian wheat growers were in a very advanced position, while some Argentine producers were considering co-operative ideas they had not developed, as in North America. Commenting on this Mr Legge said if the Argentine growers organised either on the basis of the Canadian pools or what they were buying in the United States, the Western Hemisphere would ho in a position to meet on an equal basis, the concentrated buying effect of the consuming nations.

A message! from Winnipeg states wheat soared four and a half to five and an eighth high to-day on reports of black rust in Argentine. Similar action took place in Chicago and Eastern markets. November wheat closed at 1361 cents.

Parts of Argentine in the province of Cordoba is described as near a failure, the black rust being intensified bv the sultry weather.