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Tuesday, 22 November 1938

Reports that United States wheat will probably be admitted into Britain duty free as a result of the Anglo-American and Canadian treaties, is understood to have caused recent selling of futures in Winnipeg, and buying in Chicago. Canada at present enjoys a preference of6 cents a bushel over the United States in the British market. Despite this fact, wheat for November delivery was at a discount of 3 cents a bushel in Winnipeg to-day, compared with December options in Chicago.

The figures relating to the Winnipeg and Chicago markets for the last four months show very definitely that right up to the end of August there was an advantage in price in Winnipeg over Chicago varying from 8 cents to 6 cents, and for December deliveries to 3 cents, and show that that advantage has gradually dwindled away until to-day the price in Chicago is higher than the price in Winnipeg.


Sir Frederick Stewart - Did the wheat-growers always claim that the preference was absolutely of no use to them?







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