ENGLISH WHEAT MARKET
♦ Under the head of "A ssd dliappoint' ment "an English oorrespondeut of the Auckland of Herald " writes : — " lasiead of tho rice m the price of wheat whlob nearly eferyone expeoted, we bava ialllo^ marKdts, aud Ust week the average price was ouco more under 30 i a qaarter, or^ tj be exsot, i9s 9J. Tne weekly average was not onoa »a low during the past year, uud, under the olroumstßnoes, it is quite exasperating to sellers to see it bo lon vow. Tne remaining surplus In Amerioa is very small ; the new crop Iv lutiU ie below averrge ; Australia will have nc surplus worth mentioning, if any at all j probably oil tho JNew Zealand surplue wiil be needed m Auattal.; and the expeoted surplus ia the Argentine Kcpublio is ceportei to hive be.n destroyed by bad weather Iv harvest. Under suoh oirouinsUnoes a fail m value is an anomaly, although existing auppllea are beavy, mid Ruaala haa a good deal more wheat to spare yet, If JingUah wbeat were not generally damp and inferior thia year, the fall would probably uot have taken pUoo ; but no miller likes to buy it for storing, and a band-to-mouth trade is the order of the day. Of coarse other grain keeps low with wheat. Barley uveteged 28a 81 a qaarter last week, and oats I7d 3i. Tinea prices »re muoh lower than those lmoly current m New Zealand, m all probability the prloe of wneat will go up during the epriug, but it will not be long before most farmers will have sold »U they have, and an advanoe after that will be of no advantage fc'j tnem."
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