LATE COMMERCIAL

Ashburton Guardian, Volume XLIV, Issue 10106, 7 May 1924, Page 5

LATE COMMERCIAL

A FLUTTER IN OATS.

CHRISTCHURCH PRODUCE

REPORT

(Per Press Association.) CHRISTCHORCH, May 6., Oats have taken a sudden bound into the limelight. On Friday they were quoted at 4s Bd, f.0.b., s.i. Today sales have been made at 5s Id and 5s 2d. Over-sellers are apparently getting anxious, hence the scurry. It is all paper business, as there is little demand for the actual oats. Speculators are now satisfied that the oats crop is a very short one, and delay in covering their forward sales is risky business. One of the causes of the sudden jump is, no doubt, that Canadian May purchases cannot be delivered on account of lack of space until July, and the price has also advanced in Canada by 10s per ton. It is apparent that some speculators have been hit badly by the swing of the market, as last December «ales for May-August delivery were made as low as 3s 3d and 3s 6d. The wet weather has held up digging of potatoes, but enough are coming forward to fill all the space available. Inquiries by Christehurch mer-

chants from Melbourne cannot secure quotations under £6 per ton for June delivery. This makes the future outlook for Canterbury potatoes much better, as at the present quotation here on trucks (£5 ss) the tubers should be available on Auckland wharf at substantially less than the Melbourne price. It would appear that local prices will firm in June and July. Linseed is still weak. Reports are that the crops are poor, but this is not having much effect on the price, as the outside market rules the position. There is little 'notice being taken of cocksfoot. Though sales are few, merchants are not reducing quotations. The price they paid does not allow it. i Tt is reported the cowgrass from j England, just arrived, is not of very ; good colour,