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CALIFORNIA WHEAT

Mr G. G Stesd writes as follows to a Ohrbtcburch paper ',— At tbe rlak of having my motives miteonttraed, I oarsnot let the Sydney tele* grams which appeared m your fester day 'a paper and previous Issoea pass without •osnment. The telegrams I refer to imply that the Government statlat of New South Wales oonalders that some 6,413,000 boahela of wheat will require to be imported by the Colony during 1889, and that Victoria and Bonth Australia cannot make op the estimated deficit It it farther alleged that until the English market for Califbrnlan wheat falls below 39a, there Is no need to fear competition from that quarter, as the Callfornian grower cannot land his wheat m /■ uatralia under Ba 7d per bvshel All tbla is misleading. In the calculations of tbe supply and demand, the statist has quite left oat of ao«<mnt tbe large surplus of last year's wheat that wsj held In reserve by Victoria and Bontb Australia, wbloh smplus, of oonrie, Is available towards making up any deficiency this year. He further falls to take Into Mcoant the enormoas reserves of flour that ware held In Sydney on Deo. 31, 1888. These omissions, however, are an* Important compared with the erroneous statements respecting Oalifornian prices. The fact Is tbat Ho J. standard Oalifornian wheat Is only worth to-day $gi per 6001 b, 6,1.1., to United Kingdom, or rather nnde? 4* 7^4 per bnsbel of 601 b. Now aa wheat by ■•Hers can be landed In Sydney, at rather less than It can be landed In Sogland, it mast be manifest that whilst JSnropesn values do not exoeed 38s, the OsJ'forolßns are able to aell to Anstralla *t rather less than 4s 7£d per bnshel of COlb, tacks tnoladed. A period of excitement hsa set In, and pries* will, m consequence, be temporarily forced np. The excitement will probably enable growers In New JZ9aland to take full advantage of .the mlafortnnea of their neighbors, bat anless the Saropesn market Improves oonatderably •pon pieient values, it is as oertsln ss that night follows day, that losi and disappointment will result to those who base their operatlone upon recent Sydney •able*. The leading operators may be irasted to appreciate $he position, and vtU doubtless endeavor not to barn their fingers, for while they know there will be an excellent market In New South Walea lor our Tmoan whe%t at a reasonable figure, they folly recognise the fiot that oar shori-berried wheat Is unlikely to fiad favor there so long as No 1 Standard California!) no be Imported at U 7i<* psr

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AG18890309.2.22

Bibliographic details

CALIFORNIA WHEAT, Ashburton Guardian, Volume VII, Issue 2083, 9 March 1889

Word Count
433

CALIFORNIA WHEAT Ashburton Guardian, Volume VII, Issue 2083, 9 March 1889

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