WHEAT OF THE WORLD
GROWERS TAKE CHARGE
STABILISATION EFFORTS
(Received 23rd December, 11 a.m.)
CHICAGO, 21st December.
The Farmers' National Grain Sales Corporation's . entrance into the wheat market with a bid of 1 dollar 18 cents per bushel, caused a .jump of 5 cents per bushel on Saturday with a close near the top.
Brokers saw in this action a stabilisation programme which is to be put into effect in other grain centres wherever the market drops below the Loan Board's figures.
(Received 2.3rd December, 11.15 a.m.)
WASHINGTON, 22nd December. ; The world wheat crop for 1929, outside of Russia and Chint, is placed by the Department, of Agriculture at 3,415,000,000 bushels, and the disappearance for the season at S,6JU,UOO,UQU bushels, reducing the carry-over on the Ist July next to between 315,000,000 and 303,000,000 bushels. Reports say the outlook for the remainder of the seasoh is improved. Shipments from the Southern Hemisphere have declined -and expected reductions in new crops have been confirmed by recent reports of congestion in the Continental. The run of the markets are disappointing, and the European demand for overseas wheat is beginning to show some evidences of increasing advance in cash wheat prices. ■.The forecast of a month ago is underway, but the large available supplies in the United States tend to hold advance in check, or cause recessions after marked advances.
(Received 23rd December, 12.5 p.m.)
LONDON, 21st December.
Bullish advices from Australia and small River Plate shipments counterbalance the reports of good rains in India, so that wheat cargoes are 6cl to Is 6d lower, buyers being content to wait. Parcels are finding poor support.
(Received 23rd December, 12.15 p.m.)
CHICAGO, 21st December. Chicago forward wheat has slumped further with poor export demands and abundant offerings. The market closed: December,! dollar 15% cents; March, 1 dollar 22 cents;. May, 1 dollar 26 cents; July, 1 dollar 26 5-8 cents.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/EP19291223.2.142.1
Bibliographic details
Ngā taipitopito pukapuka
Evening Post, Volume CVIII, Issue 151, 23 December 1929, Page 14
Word count
Tapeke kupu
315WHEAT OF THE WORLD Evening Post, Volume CVIII, Issue 151, 23 December 1929, Page 14
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in