Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-02
j. S. HALLS REPORT
RUSSIA WILL HOLD
WHEAT TWO YEARS
Action, If True, Expected to
BE OF Aid to American
Growers.
REGARDED AS GREATEST
BULL NEWS SINCE 1929
Agricultural Economics Chief
Terms Dispatches as Surprising
and Tremendously Important.
~ the Associated Press

~ the Associated Press.
The statement that Russia viii with
draw from the world wheat market for
two years, reported today in copy
righted cable from Paris TO the Toronto
Globe, II substantiated, likely will prove
to be the greatest bull factor that has
come into the grain trade since 1929
Nils A. Olsen, chief OF the Federal
Bureau of Agricultural Economics. today
said the Toronto Globes copyrighted
cable from Paris quoting the Soviet
Ambassador 10 France was Surprising, Z"
but that II it were true that Russia
Will export no more wheat this year or
next. would seem TO be of tremendous
Importance and significance.
Story Unsubstantiated.
Olsen said market experts in his de-
partment long had questioned figures on
Russian wheat, but that they had no
information to support the story that
Soviet shipments would stop completely
Private trade reports have been to
the effect that while Russian charter
Ing has declined recently there is an
abundant supply OF wheat in the ports
They say huge tonnage of Soviet
wheat has been shipped unsold to the
United Kingdom, where it has accumu-
lated in ships and warehouses.
Tie quality Of this grain is said TO
be inferior, but the asking basis on it
has advanced TO cents a bushel
on the wave of general upturns in wheat
quotations. II has been expected that
Russia would make some move TO I'M
load its share of the 100000 bushels,
said to be in storage in the United
Kingdom, at a profit before pressing
further exports.
Observers recalled that reports we're
current weekly last year that Russia
would cease shipping, out that Soviet
grain kept coming to market with such
regularity that IL finished the year with
more than 90,000,000 bushels exported.
IT has been the Soviet governments
avowed purpose TO press wheat sales for
badly needed cash, and exports SO far
this year have exceeded 100000
bushels.
Opposed TO Dumping.
Farm Board and Department of Ag-
riculture officials long have attacked
Russia's ruthless underselling in
world markets as the source Of unrest
and low prices in the export field
While grain has poured out Of the
Black Sea, shipments from North
America have constantly declined. Ex-
pOrtS OF wheat ana uOuT from the
United States and Canada since July
have amounted to only 100000 BUSH
els. compared with 100000 for the
same time last year.
There are reports of disappointing
yields in Continental European coun-
tries and decreased amounts of bread
grains available for export in Argentina
and Australia. Market experts said
that If Russia really intends to stop
exporting. there undoubtedly will be a
greatly stimulated world demand for
North American wheat.
Russian exports last week were only
about 100000 bushels, compared with
1000. 900 bushels the week before,
whereas North American shipments.
principally Manitoba'S but including an
unusually large amount of hard Win
ter. increased to 5.000,0 900 bushels.
This squirt in export trade was said
TO have contributed largely to the re-
cent 15-cent upturn in domestic wheat,
which put quotations almost 40 per cent
above those Of month ago.
CLAIMS DECISION MADE.