§ Mr. HURDasked the Minister of Food what has been the fall in the price of wheat on the Winnipeg and Chicago exchange during the past month; and what benefit in the way of reduced prices will the British bread consumer obtain from this fall?
§ Sir W. MITCHELL-THOMSONBetween 20th September and 20th October the price of wheat options fell by 36½ cents per bushel at Chicago and by 41½ cents per bushel at Winnipeg, but, so far as British purchases are concerned, this fall has been partially neutralised by the adverse movement of the exchange during the same period. As the hon. Member is no doubt aware, the British consumer has for a long time been paying for bread a price considerably below the world wheat price. If the present lower prices continue, in the absence of adverse movements of exchange, the result will operate to equate the world price with the subsidised price.