World Wheat Markets have con-
Unued very firm. The strength comes from exporting countries. The world wheat crop is undoubtedly "much smaller than anticipated and there 9 good demand throughout the world.
There is nothing outstanding to report og regards the situation in China. Practically no business has been done. general absence of interest among speculators was noticed dur~ ing the Intier part of the month until the approach of settlement forced their hands and a short period of fast-minute activities came just before settlement day. The total volume of transactions was consequently low, amounting to only 319,980,000.
The month opened with a declining tendency but this was short-lived and a recovery took place almost imme-_ diately after. The rest of the first week was quiet with little fuetuations.
"The second week was featured by fa sudden advance due to reports of This opportunity may be taken to draw attention to the fact that recent. newspaper reports referring to imports of foreign wheat as detrimental China are not quite correct.
The fact: is that the total imports of foreign wheat compared with the total production and consumption of wheat in China are very small indeed.
A further fact is that China is com. pelled to import a certain quantity of wheat because after a certain time of the year Chinese wheat has all been used up and is no longer available to modern. mills.
The remark as to "dumping" of wheat is entirely unjustified because the prices at which foreign wheat ave been sold have been continuously much higher than the native product could be bought, and, furthermore, as soon as the new crop of native wheat becomes available, the import of for-olga wheat 1s automatically curtailed, and foreign wheat prices, as previous Issue sth Yr. Customs Mar. Reorganization Mar.
Disbandment uth Yr, Customs Rensbititation 20H Yr, Tobacco oth YF, Customs Consolidated Tax Salt Revenue etn Ye. Currency Consolidated ind Year Customs 29rd" Yr, Customs
Text read from the printed page and cleaned; old type leaves the occasional error.