CHRISTCHURCH GRAIN MARKET.

Ashburton Guardian, Volume XXIX, Issue 7820, 12 June 1909, Page 1

CHRISTCHURCH GRAIN MARKET.

CHRIQTCHURCHi June 11. The misleading and. contradictory information that has been telegrapheci iVom Aiicldartd during the week regarding the .wheat market has been generally condemned by those interested m the grain trade. The first statement from 'Auckland that attracted attention was,'that "Australian buyers were.on their way qver to buy up all the surplus wheat,.and that two.steanir ers were coming to ship the grain, afid that by August there would be a wheat and bread famine. It was next stated that these Australian buyers had been operating m New Zealand for two months past. Regarding the surplus, ■ it . was first stated that 2,000,000 'bushels'* available for export, were being, tightly held by farmers and that more than half of this quantity had already, ..been exported. Enquiries, made, both m Canterbury and Otago, .where the bulk of the wheat is grown, and where the surplus is hold, have, failed to discover any indications of ■- the operations of the Australian buyers, or any corroborative information; that such- a visit is fcoijtempiatedt.'So fr>r, the move. thafilialf of the surplus of 2,000,000 bushels of wheat having been, exported, the Customs returns show that up to the end of May only 156,463 sacks, equal to about 521,543. bushels, had been shipped. To show ,that;the local merchants are not anticipating a wheat famine, it is predictedl from Auckland they have shipped practically all their stocks, and m view of the present state of the Home market, which must rule the local market so, long. as r there remains an exportable surplus^ they are not making further purchases; unless, they can obtain them on a parity with London values. Meanwhile,! there is little wheat- offering, as farmers are holding-firhit^'biit 4intil there is an improvement reported from London sufficient to justify resuming the export trade, after the present shipping charters are filled, there will "probably not be a very keen enquiry. , Millers appear to be well stocked, and ho sales of wheat are reported to have taken place during the last fewdays. Oats are easier, though few are [coming forward, but prices are dependent upon London values, and exporters have had to reduce their limits m accordance with the Home advices; Quotations are now a penny per bushel below those of last week. There lias been a reneAved enquiry for ryegrass and the price for Italian seed is firmer m view of the crop not being so large as was anticipated. A few samples of cowgrass have been submitted,- and the opening prices quoted are 6d to 6£d per lb. There is not much business doing m potatoes or onions. For potatoes prices ranging to £3 10s per ton have been paid at near stations. .