WHEAT BOOM

Hokitika Guardian, 3 November 1931, Page 3

WHEAT BOOM

IN NORTH AMERICA. (United Press Association.—-By Electric Telegraph.—Copyright.) WINNIPEG, October 31 The grain brokers are predicting that the wheat price will rise to a 'dollar a .bushel by Christmas. 1 Leading United States dealers are hastily opening offices. They declare that a world ' shortage is looming, with North America holding command through a slump in the Russian shipments, and shortages in Europe. OTTAWA, October 31.

The Canadian Trade Department confirms remarkable falling off in Russian shipments of wheat.

H,on Mr Stevens states the Russian wheat shipments for the week ending October, 29 were 2,000,000 bushels, as compared with 4,000,000 bushels last, week and three and a half million for the same week a year ago.

May wheat at Winnipeg closed at 70 cents, which is up a cent and a quarter a bushel. It is estimated that 50 million dollars have been added to the Canadian grain values in the last five weeks.

CHICAGO MARKET RISING. CHICAGO, October 31. With increased values of 328 million dollars in the prices- of all the principal grains l since October sth of which the wheat share of the increase has • been sixty-sevten million dollars, and maize 216 million dollars,- the grain traders here asserted 'that 4 b ere ! are indications from all portions of the world that presage a masse j improvement in the American grain market within the next few weeks, which will rival the heavy shippings of grains during the World War days. The recent exports of American grains have been increasingly heavy., This has been due to an apparent European realisation that the sole available supplies are now held in the United States and in Canada. Mr Stone of the U.S.A. Farm Board admitted that the U.S.A. Government financed, grain holdings are now moving at an accelerated rate. He stated the Farm Board had authorised the Grain Stabilisation Corporation again to enter on the futures trading market.