U.S.A. WHEAT SURPLUS

Hokitika Guardian, 28 November 1930, Page 3

U.S.A. WHEAT SURPLUS

CROPS TO BE LESS. (United Press Association—By Electric Telegrapli.—Copyright.) WASHINGTON, November 27.

The Chairman of the Farm Board, Mr Legge, declared that the wheat surplus in the United States is being reduced daily by a large degree of feeding of wheat to livestock totaling, he said, “well over 200 million bushels.” He said: “The feeding of wheat to livestock is much larger than was expected. .1 advise the. millers and others who need wheat to cover requirement* now.”

Mr Legge also stated that the Russian wheat exports during the next five years would increase on such a scale that it would be unprofitable for tlie American growers to ship any wheat abroad. He therefore advised the limitation of United States wheat productino to the domestic wheat requirements, and he also advised a further restriction on grain speculations, since, he said, the same wheat was being sold over and over.

In conclusion,- he stated that when Russia again enters the world markets on a large scale, “dollar wheat” would be a rarity. The Liverpool prices would then be belpw a dollar, but. the United States’ prices, would be somewhat higher if the production were limited to the domestic demand.

RUSSIAN WHEAT. BRITAIN’S IMPORTATIONS. LONDON, November 26. Tn the House of Commons, Lieut.Colonel Gault (Conservative) directed attention to the dumping of foreign cereals into Britain, and moved a motion deploring the Government’s inaction in this connection. He said that, out of seventy-one million hundredweight of wheat imported from January Ist to September 30th into Britain, Russia had sent in three and a-half million hundredweight at half the cost of production in Britain. This wheat was grown on State farms, by conscripted labour, under a tyrannic Government.- • • •: Mr G. M. Gillett, replying for the Government, said that the yearly import- of six million hundredweight of wheat, from Russia was hardly an important factor. Tt was probable .that all the exporting countries were having, to sell below the cost of production.

Lieut.-Colonel Gault’s motion was defeated by votes to 139. t - ' ’v.

U WHEAT PRICES. NO N;S:W. WALES GUARANTEE. (Received 8.30 a.in.) SYDNEY. November 28. The Mifffster of Agriculture, Mr Dunn, replying, to a deputation,, said, the wheat growers had not the slightest hope of the Government granting a 4s bushel - guarantee on the coming season’s crop. He pointed out that far too many farmers were in trouble owing to the high price of wheat land. However, the Government hoped to provide a moratorium for those requiring .it. This would regulate interest rat,os and gives some relief in the chidy half of next year. He hoped to have a compulsory nool in operation..-rieM year. It would be far better- to have one selling agent compared with eighteen thousand competing against one another.