COMMERCIAL NEWS.

Ashburton Guardian, Volume XLVI, Issue 10672, 17 February 1926, Page 2

COMMERCIAL NEWS.

GRAIN AND PRODUCE. CHRISTCHURCH MARKETS. OHRISTOHURCH, This Day. For this time of the year business is -unusually slack in the grain and produce market Perhaps the explanation is, as suggested by one merchant, that most lines started off the season with too high a price, and that this has tended to limit trade. Millers are still refraining from buying wheat. Theyt( are waiting for the announcement from Mr Coates and they state that until this announcement is made they will niot know where they stand. One merchant stated yesterday that it was difficult to know why the Prime Minister was taking so long to make a statement on the wheat question, especially as the Government had consented so quickly to the request of the wheat growers for a free market. To his mind the logical thing for the Government to do would be to abide by this decision and let the existing duties on wheat and flour stand. If the Government did this the millers would know where they stood and they could offer for wheat a price which would enable them to compete against Australian flour with a duty of £3 a ton. The present position is that the millers are not offering anything for wheat. Growers are showing anxiety to sell their wheat and the \ price the majority of them are asking is round about 7s a bushel. Millers are, however, not prepared to pay this figure. Some sales of wheat have been made at 7s but this has been to southern mills that absolutely had to have wheat in order to carry on. Oats remain quiet but firm at about late rates. There is not much doing in any variety of oats. One reason is that farmers are not offering their oats very freely and another is that merchants are beginning to bo of opinion that the price of oats is too high and that it will be difficult- to sell them at a profit. A somewhat similar position has arisen with regard to seeds, noticeably ryegrass. Merchants are finding that the demand from the North Island for ryegrass has not yet set in in any volume and that they are n&t able to obtain a price equivalent to that which they were offering farmers earlier in the season. The result was that a week or so ago quotations for ryegrass were reduced and the tendency is for them to go still lower. Partridge peas are being quoted at 6s a bushel on trucks at country stations and linseed at lip to £l4 a ton. | It is, however, too early for these lines to be coming forward to the mar-

During the past few days business ini potatoes has slackened off considerably. There has been no fresh business with Sydney since about the middle of last week, and Auckland' is'adopting a waiting policy. The Sydney, business lias tended to force up the price of potatoes and prices have reached such a level that merchants are not anxious to sell forward unless they have the .potatoes bought. The trouble is to buy potatoes in any quantity from growers, who are not selling at all freely. This is not surprising, for the crops are a good deal later this year than usual, and many growers are still unable to say how their crops are going to turni out. Sales of potatoes have been made to Sydney at £8 a ton f.o.b.s.i. and quotations for shipment to the North Island are about £7 a ton. The price toi growers is round about £5 5s a ton on trucks at country stations, with a maximum of £5 10s.

There has been an improvement in the price of onions, which are now quoted at £7 a ton on trucks at country stations, March delivery. The firming is due to the fact that inquiries for onions have been received from Sydney, though, as far as can be learnt, no actual business has been done.

The following are quotations for proiuce to be paid to farmers at country stations free of commission, sacks extia, 'xee<D/< where otherwise stated:—

Oats.—Onrfcons up to 4s per bushel ; Algerians, 8s 6d to 4s; Duns, 3s 9d to 4s.

Chaff—:llp to £5 10s per ton. Potatoes—Up to £5 5s to £5 10s per ton, April-June delivery. Red Clover—Bd to 9d per lb. White Clover— 9d to Is per lb. Perennial Ryegrass—4s 3d to 4s 6d per bushel.

Italian Ryegrass—3s to 3s 6d per bushel.

Cocksfoot—7d to 8d per lb. Barley -4s 9d to 5s per bushel. Onions—Up to £7 per ton, March delivery.

Flour—2oolb sdc:» £lB, 1001 b bags £l9, 50to bags €l9 12s 6d, 251 b bags £2O, all at per ton f.0.b., Lyttelton, Timaru and Oamaru.

Bran—£B pe. ton f.o.b southern ports, 10s extra for smaller packages. Pollard—£9 per ton f.0.b., South ern ports, 10s extra for smallei packings.

DOMINION PRODUCE.

HIGH COMMISSIONER'S REPORT

The Department of Agriculture has received the following cablegram, dated February 13, from the High Commissioner for New Zealand, London:— BUTTER, The market is quiet. , Official quotations are:— New Zealand—Finest salted, 173 s to 174 s per e\vt (Is 6|d per lb); exceptional up to 176 s (Is 6fd); unsalted, 176 sto 178 s (Is G|d to Is 7d). Other qualities, 140 s to 168 s (Is 3d to Is 6d.) Australian—Salted, 164 s to 166 s up to 168 s (Is old, Is s|d to Is 6d); unsalted, 166 s to 170 s (Is sjd to Is 6Jd) ; other qualities, salted, 140 s to 162 s (Is 3d to 1« sid) ; other qualities, tinsalted, 140 s to 160 s (Is 3d to Is sd). J Argentine—Unsalted, 156 sto 160 s j (Is jjd to ls*sd); exceptional, 162 s (Is s£d) ; other qualities, 150 s to 154 s (Is- 4d to Is 4Jd). Siberian—lsos to 154 s (Is 4d to Is 4id). Danish—l92s Ms Ski).

j CHEESE. The market is quiet and steady. EhgI ii.sji finest farmer's, Canadian and I Australian unchanged. Nsw Zealand—Finest coloured, 102 s to 10% up to 104 s per ewt (lOfd to lid per H)); white, 98s to 100 s (10-id to 10fd). TALLOW. The spot market is quiet. Present, quotations are:— Mutton—Eme, 45s per cwt; fair to)

good, -10 sto 445; dark to dull, 38s to 395. Beef—Sweet or miixed, 41s to 42s 6d; fair to good, 38s 6d to 40s 6d; dark to'dull, 37s to 38s. Mixed—Fair to good, 38s to 40s; dark lo dull, 37s to 38s. Out:, etc.—3ss to 375. APPLES. Oregon Newton 13s to 16s, American red suits 10s 6d to 12s 6d per case, York and Imperials 30s to 35s per barrel, (English) Bramley and Newton Wonder 6s to 7s per bushel.

THE WHEAT MARKETS. LONDON AND CHICAGO. LONDON, February 16. ; Wheat Cargoes.—Renewed weakness in America, coupled with heavy shipments, caused a decline of from 6d to 9d. Parcels arc in small request, and from Is to Is 6d cheaper. A shipment by an unnamed vessel on passage sold at 57s 6d and 57s 4£d. Liverpool futures are quoted: March, lis oi<l ; May, lis 3*d; July, Us 2* per cental. NEW YORK, February 15. Chicago wheat quotations: May, new 178 J, old 166 f; July, 150 f; September, 1435 cents per bushel. j