COMMERCIAL NEWS

Ashburton Guardian, Volume 48, Issue 167, 27 April 1928, Page 7

COMMERCIAL NEWS

GRAIN AND PRODUCE. THE ASHBURTON MARKET. Odd lines of good milling wheat have been offered during the last few days, and though growers have been asking 5s 8d on trucks, millers will not respond to this price. They do not seem inclined to operate except at 5s 7d per bushel, and then only in small quantities. The majority of millers have still a large quantity of forward wheat to take delivery of, consequently there is no shortage of supply. Good whole fowl wheat is slightly firmer at 5s 2d on trucks, with undergrade from 4s 9d to ss. Further sales of A-grade Gartons have been made during the past week to England, and in consequence extra good quality oats have firmed Id per bushel. Most of the Canterbury oats this season are A grade, and sellers of B grade qualities are finding it hard to cover their forward sales. There is practically no demand for feed Algerians, though extra good quality, for seed, is inquired for at 2s Bd> on trucks. Most of the best lines of Duns appear to be cleared up and the lines now offered are of inferior quality. Dunedin appears to be the only outlet at present for chaff, and sales have been made during the week at £3 10s on trucks for good l white quality. Peas are still firm at 6s on trucks to farmers, but most of the lines appear .to have changed hands. There has been a larger quality of rejects than usual this year, owing to the broken weather experienced, and most of the farmers have been very disappointed with the yields. The Auckland potato market is apparently still over-supplied and consignors have experienced 1 difficulty in acquitting their stock at £6 ex wharf. The last two steamers took 9000 sacks between them, and as the Waipiata, sailing on Monday, will probably take a further 6000, the northern market will be well supplied during the next fortnight. Some of these lines of potatoes were dug before they were fully matured, consequently a lot have become bad on the Auckland wharf. According to a report in a (northern newspaper, these unripe potatoes are being sold at 6d a bag. The nominal va' 1 - for prompts is £3 10s on tracks, for May or June delivery, a fi 5s could be obtained.

The following are quotations for duce, to be paid to farmers, sacks extra, except where otherwise stated:— Wheat. Tuscan 5s 7d, Hunters 6s, Pearl and Velvet 6s 9d (all prices nominal). Oats—"A" Gartons 3s 2d, "B" Gartons 2s lOd; seed Algerians 2s 6d to 2s 9d; feed 2s 5d to 2s 6d; good heavy dark Duns 2s 9d to 3s 3d, feed 2s 4d to 25.6 d. Grass Seed.—Perennial 3s 3d to 3s 6d, Western Wolths 2s, Italian 2s 3d, red and white clover 8d to 9d per lb, according to quality. Cocksfoot 7d. Chaff.—Good bright . oatsheaf to £3 10s per ton. t No. 1 Peas—6s for prompt delivery. Potatoes—White £3 10s, Dakotas £3 15s.

SOUTH CANTERBURY. (Per Press Association.) TIMARU, This Day. There is a gratifying firmness in the oat market, the export of oats to England contributing on a larger scale than had been anicipated. Home buyers have increased their buying limits so that it is- possible, for oats to be shipped from New Zealand with a margin of profit. The reason for this Home business is attributed to a shortage in the English crop, and to the fact that when, they can get oats cheaper from New Zealand, English merchants are prepared to give New Zealand a share of the business, instead of giving most of it to Canada and Chile. "A" grade Gartens to-day are worth 3s 2d to 3s 2£d, on trucks, country stations, and "B's" 2s lid to 3s. The Ne.W Zealand crop is short this year compared with last year. The 1927-28 estimates of the acreage in oats in New Zealand was: North Island 27,000 acres ; South Island 285,000 acres, a total of 312,000 acres, compared with an actual acreage, in 1926-27, of 386,762-—a falling off last sea-son of 74,762 acres. Duns are quoted at 3s to 3s 3d, according to quality, medium 2s i9d, whilst very light Duns are difficult to dispose of at 2s 6d to 2s 7d. Algerians are in a little better demand at 2s 9d to 3s.

Oatsheaf chaff is worth about £3 10s, on trucks, sacks found by buyers, for good bright quality. This is really below the parhty of oats, and it would seem that if the firmness on the oat market is maintained, chaff will inciease in price in sympathy. So far as wheat is concerned, the offer by millers is not being taken very seriously. The chairman of the Wheat Committee (Mr Mulholland) has stated that the millers' offer for next season's wheat is not one to which growers should pay much attention. It is really lower than the prices which are being paid to-day. Some stack threshing is now being done, and it is expected that there will be a good, deal of wheat on the market within the next week or two. Growers are advised, if they do not wish to see the market "break," not to ru6h their grain on the market, but to "feed" the market gently. Tuscan was sold in town yesterday at 5s 9d, on trucks, and other sales have been made at 5s 8d and 5s 9d, on trucks, the higher price being paid for best quality. A line of good quality College Hunters was sold in Timaru yesterday at 6s Oid, on trucks, and sales have also been made at up to 6s 2Jd, delivered Timaru, but the average value of Hunters is set down at round about 6s, on trucks. For Velvet 6s 6d, on trucks, is being offered, but iif most cases growers want more than that. Some smutty Tuscan was sold during the week down to 5s 4d, on trucks. Fowl wheat is worth 5s 3d, but there is very little offering, and most holders want more than that price. The seeds market is quiet. Perennial ryegrass is quoted at 3s 6d per bushel, Western Wolths and Italian at 2s 3d, cowgrass at 8d to 9d a lb and cocksfoot 8d a lb for pood lines. There is not a great deal of linseed offering, and the crops are not turning out too well. Sales of "free" linseed have been made at up to £l4 per ton.

There is nothing doing in barley. Potatoes are nominallv worth £4, on trucks, for prompts, but at this fkrure ; farmers are not ready sellers. With the exception of a few outstanding crops, the crops generally cannot be

said to be very good, although they are perhaps a little better than was the case last year. They came on very well after the autumn rains, but since then blight has affected them to some extent. A fair proportion of tablesize tubers has to be left on the ground owing to blight, but fortunately this does not apply to every district. Final figures for last year show that the area in potatoes covered 25,616 acres, while the estimated acreage in potatoes this year is 22,200, a reduction of 2416 acres over the whole of New Zealand. It is not thought that the market will fluctuate to any material extent until the end of May, by which time digging should be practically over. It is not possible to say definitely that the market will then harden, but those best able to express an opinion say that it is very likely to do so.

AUSTRALIAN QUOTATIONS. SYDNEY, April 26. Wheat. —Growers' bagged lots at country stations, 5s ex truck Sydney, 5s 7f|d per bushel. Flour—Export trade is lifeless. Local £l3 10s per ton. Bran.—£6 10s, pollard £7 15s a ton. Oats.—Nothing offering. Maize.—Local yellow 4s 3d, white 4s 10s to ss; Queensland, 4s 6d to 5s lOd per bushel. Potatoes.—Tasmanian, £7 10s to £8 10s per ton. Onions.—Victorian £lO per ton. ADELAIDE, April 26. Wheat.—Growers' lots' 5s 5d to 5s 6d per bushel. Flour.—Bakers' lots £l3 17s 6d per ton. Bran.—£7 ss, pollard £8 2s 6d per ton. Oats.—3s 3d per bushel.—Australian Press Association.

THE WHEAT MARKETS. LONDON, April 24. Cargoes.—The market is quiet and prices are unchanged. Parcels are in poor demand at late At Liverpool futures are quoted: May, 10s 8p"; July, JOs Old; October, lis lid per cental- \ustralian Press Association C, April 25. nations:—May, -- i ; September, .(iisnel.