WORLD WHEAT PROSPECTS

Sun (Auckland), Volume II, Issue 411, 20 July 1928, Page 12

WORLD WHEAT PROSPECTS

POSSIBLE SHORTAGE NEXT YEAR On the basis of world crop conditions which obtained about the middle of May Mr. George Broomhall, the English wheat authority, viewing crop prospects as indicative of future supplies, was of the opinion that Russia and Poland would need to import wheat next season. Poland probably would require a fairly heavy volume of supplies. The early crops of the United States were unsatisfactory, and the spring crops were uncertain. Canada had had three heavy crops in succession, and it remained to he seen whether it would have a fourth. The crops there had been well seeded, and were experiencing much better conditions than did the crops of 1927. He emphasised that the June weather would decide the state of the Canadian crop. Planting in Argentina had been in favourable circumstances, but n Rumania and Jugo-Slavia the crops were barely up to those of last year, when there was no exportable surplus. Turning to importing countries, indications were that France would have a poorer yield than in 1927. and it suggested that Germany would also reap a smaller harvest. In Italy. Greece, and North Africa the crops promised to be better than last year, but prospects in Spain were poor. In 1927 Hungary had a third good crop in sequence, and doubt was expressed wliethr it would have another good crop this season. CHICAGO WHEAT MARKET (United P.A.—By Telegraph — • Copyright) (Australian and N.Z. Press Association.) Reed. 9.5 a.m. CHICAGO, Thursday. Wheat. —July, 1 dollar 25 cents a bushel: September. 1 dollar 272 cents: December, 1 dollar 31 5-S cents.