561.311F1/191: Telegram
The Acting Secretary of State to the Ambassador in Great Britain (Bingham)
221. From Wallace to Murphy. We would prefer 68 cents gold minimum price C. I. F. British ports, or at least 64 cents. This is in line with our present prices in Pacific northwest. If minimum export [Page 823] price is to be established, it should provide price differentials for various important classes and grades. Prices for at least five classes, first, Manitobas; second, Russian; third, Australian and our soft Pacific; fourth, hard winter; and fifth, Argentinian, would need to be specified, and then differentials for grades in each class. In view of complexities this produces, we are dubious about the feasibility of agreeing on minimum prices.
We estimate domestic disappearance at from 600 to 625. Most probable figures are 490 for food, 75 seed, and 50 feed and waste. [Wallace.]