| Show WHEAT it will continue to advance iio 90 IT IS SAID IN LO LONDON ND ON wheat being purchased there for india in din F farmers will not se sell ll 11 nov mow new oct 28 A dispatch to the world from london says A re marfe mark aole feature cl cf the situation one plainly indicating a belief that higher prices are coming is that the farmers in the wheat growing districts of england are firmly holding on to their stock even though the figures to be obtained are ara much higher than they ever hoped to fee eee again the absence of rain in the punjab district and the measures now being arranged by the east indian sovern ment to deal with possible possibly pos famine seem ce certain ertain to make large demands on the market next month your correspondent had a talk with mr IT Seba masch maach the manager of the great firm of E D sassoon co of london and bombay the largest and most important london house in the east indian trade it was his bis dur chabe of several cargoes for bombay last week that caused the first decided advance in prices he says 1 I con eider the prospect of the market excel lent tor for some months to come notwithstanding the price of wheat shows a downward tendency it has now fallen to 32 and I 1 believe it will aop drop to SO from which point it will rise steadily in a healthy stable manner I 1 the potato crop both hare and on the continent must be taken into consideration as an important element in predict predicting the grain grain outlook out looks jt it is almost certain that on an this account france fiance will become an importer and when prance france begins to import prices will go jup up two or thres shillings a week germany German yand and holland also have suffered in their potato crop so they too will become ini importers which will increase the strength of the market and maintain prices at a good level 1 As to india the pinch of want will not be felt there for some months anyway as they have hae enough stock to keep the them ingoing going it cannot yet be said with certainty that they will have a famine at all rain may come and if it does the crop will be saved of course coarse the bioc stocks in india are held by speculators who may manipulate the market in which event we shall have exciting times the importation of wheat into inta india has reached so far only moderate proportions I 1 bought three cargoes and boug htone caro cargo for foran india that is all As to argentine we estimate that we wa shall get CO quarters quarte ra at least from there the reaction in the market is due to a stable state of nervousness produced by an incurs incursion ion of outsiders when prices began to improve this reaction will prove beneficial in shaking off the weak holders when the trade will begin to ambrove im Brove as already expected on a stable healthy basis and prices will riso steadily |
