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Only Small
Wheat Price
Decline
Despite the enormous
surplus of wheat in
Canada and the US, and
n trpnri t.n a buvers' market
overseas, the world prices oi
wheat had shown only a
small decline in recent sales,
the secretary of the Austra
lian. Wheatgrowers' Federa
tion (Mr. T. C. Stott) said
yesterday.
Sales of wheat had been
hard to make during the past
two months because pur
chasers were waiting to see
what countries would ratify
the International Wheat
Agreement.
In addition. Britain had
been disposing of her stocks
from the Ministry of Food to
private merchants and
millers in preparation for
the ending of bulk purchas
ing on September 1.
'I think we can expect a
lower return for barley than
last year, particularly if the
acreage is increased by the
estimated 28 p.c,' Mr. Stott
said.
'Wheat prices will also
ease, but there is no need to
become unduly alarmed. The
US price-supporting legisla
tion will be continued for two
years, and probably beyond
that.'
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