WHEAT

Hokitika Guardian, 24 December 1929, Page 7

WHEAT

[United Press Association.—By Electric Telegraph.—Copyright.] WASHINGTON, Dec. 22. The world wheat crop of 1929, outside of Russia and China 'is placed by the Department of Agriculture at 3,415,000,030 bushels and the disappearance for the season of 3,650,000.000 -bushels reducing the carry-over oil July first next to between 3J5,000,000 and 395,000,000 bushels. The report says the outlook for the lemainder of the season of improved shipments from the Southern Hemisphere have declined and expected icductions in the new crops have been confirmed by recent reports. Congestion in Continental run markets are disappearing and the lEuropcau demand for overseas wheat is beginning to show some evidences of increasing advance in cash wheat prices forecasted a month ago is understood, hut large available supplies in United States tend to hold the advance in cheek or cause recessions after the marked advances. WASHINGTON, .Dec. 22.

Chicago farmers national grain sales corporations entrance into the wheat market with a bid of a dollar eighteen caused a jump of five cents per bushel on Saturday with a close near the top. Brokers saw in action stabilisation programme which will be v put into effect in other grain centres, wherever the market drops below the Loan Board’s figures.