The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1933-08-22
WHEAT TRADE
WAR FEARED
Chances Only Even That
Dumping" of Grain
Will Be Prevented
BY HERBERT MOORE
United Press Staff Correspondent


LONDON, Aug. 22.-(UP).-
Fear of a world wheat "dumpirg'
war unless an international pro-
duction agreement is reached
hung over The delegates to the
wheat conference, on the eve Of
their resumption Of deliberations
here yesterday.
The parley was spurred to
desire for swift action, after
months Of delay and postponed
rarleys here and in Geneva. by s.
72-hour ultimatum from the Uni.
ted States to "agree or we will
dispose Of our surplus by subsj-
dlZlnE exports"
The delegates indicated they
would proceed quickly with the
election Of Premier r. b. Ben
nett, of Canada, as chairman o1
the conference. The conference
meets in Canada House to. draw
up the terms Of q wheat acreage
limitation treaty for the next two
years rs one way OF raising prices
and assuring the farmer fair
return on grain. Twenty nations
are represented, including the
Big Fom"-the United States,
Canada, Australia and Argentina.
The members of the Unitel
States group told the United Press
in private conversation that they
regard the chances of an agree
ment about even," but foresee i
terrific fight on the part Of wheat
importing countries.
The Americans are convinced 4
twO-ye&r wheat curtailment period
is necessary. but the majority
dread the political consequences.
The sharp breaks on the Chi
cago and Winnipeg wheat markets
recently, despite serious crop dam
age throughout North America
due to drought end other natural
causes. again were regarded as
having emphasized the urgent ne
cessity of curtailment OF wheat
growing, the experts declared.
During the recent world eco
nomic conference, the principal
wheat exporting countries agreed
to regulate their production but
only on condition that the import
ing nations give their co-opcra-
ton. That cooperation will be
one of the chief points sought at
this weeks parley here.
Wheat reports from Canada so
far Indicate that the crop there
will be about 250,000,OO0 bushels
this season, compared with 431,-
100000 last year. Excessive rain
in certain areas and drought in
others is responsible for this stu
alton. cxperts pointed out, and
likewise in the United States
where the yield is estimated at
496,O00,00O bushels as compared
with 100000 bushels last year.
In other parts of the world,
however, figures available ut the
conference here indicate bumper
crops, Rome reports of a wheat
shortage notwithstanding. For cx-
ample. harvest prospects in E1-
rope are good. A record crop is
promised of about 193,000,O00
bushels as compared with 1885,
100000 last year. The Argentine
crop is reported good.
Soviet Russia. always the "mys-
terry" in the world wheat situa-
ton, is expected to export wheat
in heavy quantities, despite pre-
liminary reports to the contrary.
Soviet experts predict an exporta-
bic surplus in Russia Of between
100000 and 90,000,000 BUSH
els will be available this season.
The big Four" producing 80
per cent OF the worlds export
wheat, have already agreed tenta-
lively to reduce their acreages on
exports by Is per cent a year for
the next two years. The four
Danubian countries --'Jugoslavia,
Hungary. Roumania. and Bulgaria
Tentatively agreed to quota
among themselves of 54,00O,0OO
bushels for the first year and 3d.
the second. =,
Soviet Russia originally asked
for a quota of 90,000,000 bushels
for each of the two years, but IS
expected to be content with about
half that amount.