THE WHEAT MARKET.

Ashburton Guardian, Volume XXIX, Issue 7816, 8 June 1909, Page 2

THE WHEAT MARKET.

]p<!y IVeea Association. AUCKLAND., June 7. Jhiqniries made to-day led to information as to the state 'of the wheat market, and if the position is as bad as it was represented a flour famine would seem imminent. It was. explained that the reason vrfcy Sour is dearer m Auckland than, m the south is because practically no wheat is grown m ! tlv\s province, and local millers and bakers have to pay the cost of transport to Auckland, which with all incidental expense, means ; ..a considerable item. A gentjemg.n prominently interested ix> th^ bakery trade sa;id that, dear as Sour was at £12 10s per ton m Auckland, it ought to \>& selling at £18 per ton at least m order to allow fthe millers »t least a fair margin of profit, Ths mark«t quotation for wheat m Now Zealand was at present the lowest m the world, but it was very unreliable to take as a guide, as farmers knew their strength, and would not sell at that figure, the consequence-^ boi ing that the millers had to pay through tho. nose. At the present time there, was a great shortage of wheat through out the world, owing principal tp previous non-bread countn»v sijeh as Japan and China, no\? V^kg bread[as a. chief article of. $»Ik» ana drawing upon tho whp^p.T-octueing countries of the worM *he cooscquence was that the^a *onntries .w-ere unable to supply Die demand as well as their, local markets. It was costing New Zealand millers too much to manufacture flour at present, and one southerner had found he could make far more money by exporting wheat than by"making it into flour.. At present New Zealand had a surplus of 2,000,000 bushels of wheat winch wa.s being held tight. Two ships I were, now on their way out to Nexr Koaland, it was. stated, ■ and two Australians were coming over to buy up every available bushel of wheai m "New Zealand,. By August next tbere would, m all probability, bo Bte-fc a.h.ushel left m the dominion, And", flour would at least jump up, to £14 per ton, with, of eonrro a corresponding, increase m the prica of bread.