SAN FRANCISCO WHEAT MARKET
(*» North Otsgo rimes.")
Ban Fr-nolico papers of the 3rd April, wbioh arrived In Oamaru yesterday, report th»t It Is estimated.—-'' That the Australian colonies will require altogether 90,000 tons of wheat to supply their pressing wants, and this will trenoh considerably on Californlan present supplies." On the date mentioned No 1 shipping was quoted at equal to 3i 6£i per bushel Freight to the United Kingdom, It Is stated, bat suffered a considerable reduction, being quoted at £1 6s 3d for order, and £1 3t 9d for dlreot port. Freight to Sydney la now quoted, but it may be inferred that it will be little if any In excess of freight to the United Kingdom. On Maroh 27th the Reaper cleared for Sydney with 69,627 bushels, while two other vessels bad been chartered, and on the 3rd April were reported as loading— viz,, the Brynhilda, 1409 tons, and Gatherer, 1406 tons. From the Ist July to the 3rd April there had been exported to Australia 91,955 bushels wheat, and 1971 tons of flour. It Is evident that we will have, to a oertaln extent, to compete In the Australian markets with Oalifornlsn wheat and flour, the prloe of which is ruled by the Liverpool market. Probably, however, owing to Sydney being suoh a small market supplies may not be forthcoming veiy regularly. Previous experience will have made San Francisco dealers cautious. New Zealand also has an advantage In being able to supply on shorter notice, and this may enable us to realise comparatively higher prloea than California. We are also, even If freights from California to Sydney are no more than from California to London, from 2d 46 3d a bushel better than San Francisco. She Some markets, it will have been noticed, have Improved slightly, and Improvements there will cause a corresponding rise ai Ban Francisco, and this will act as a matter of course, on New Zealand prices.
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