CHAPTER IV 



THE world's wheat trade 



Up to the present we have been engaged in review- 

 ing the production of wheat in the principal 

 sources from which importing countries draw 

 their supplies. The knowledge thus acquired 

 enables us to appreciate better the problems 

 involved by the world's requirements of bread- 

 stuffs. 



During the five cereal years (ist August to 

 31st July), 1906-7 and 1910-11, international 

 trade in wheat ranged from 76 million to 59 

 million quarters, the world's total production 

 having varied during the same period from 460 

 million to 393 million, and the " reserves in 

 sight " on ist August from 25 million to 12 million. 

 Stated in percentages, the world's wheat imports 

 have varied in these five years from 13 per cent, 

 to 18 per cent, of the world's production. * 



With some exceptions, the destinations of the 

 world's surplus wheat has been remarkably 

 steady. The United Kingdom takes roughly 



1 The figures which follow are taken from Broomhall's 

 "Corn Trade News." 



E 6.5 



