COMMERCIAL NEWS

Ashburton Guardian, Volume 54, Issue 90, 26 January 1934, Page 7

COMMERCIAL NEWS

GRAIN AND PRODUCE. AUSTRALIAN MARKETS. (United Press Association—Copyngnt). SYDNEY, January 25. Flour—£ll 10s. Bran—£4 ss. Pollard—£s. Potatoes—Tasmanian to £5 10s, local (new) £3 10s. Onions—Victorian Globes £5 ss. Maizer~3s 6d to 3s 9d. Wheat—The market continues dull. Bagged and bulk at country sidings is quoted at Is ll|d, equal to 2s 6Jd to 2s 7i-d, -ex trucks, Sydney. ADELAIDE, January 25. Wheat—Growers' lots 2s 4|d. Elour—Bakers' lots £ll 10s. Bran—£4 12s 6d. x Pollard—£4 15s. Oats—Algerian 2s. Barley—2s 4d.

AMERICAN WHEAT PRODUCTION. WASHINGTON, January 24. § Facing a prospective reduction in the winter wheat output only 7.2 per cent, under the average of the past three years, compared with the 15 per cent., curtailment stipulated by the London agreement, the Agricultural Adjustment Administration has announced that it is considering reopening the reduction campaign. Officials realise that because a relatively smaller supply of spring wheat is available a reduction must be made in the winter crop now in the ground. The Agricultural Adjustment Administration" has estimated that if a normal crop is obtained in 1934 the total production would probably reach 700,000,000 bushels after allowing for als per cent, reduction. The average domestic consumption is estimated at about 500,000,000 bushels.

AUSTRALIAN WHEAT. POSSIBLE ITALIAN MARKET. Advice has been received by the Commonwealth Statistician from the Italian Minister of Agriculture that the area under wheat in Italy for the 1934 season shows a decrease of 10 per cent, compared with that of last' year. The condition of the crop, the advice states, has been affected everywhere by excessive rain, and consequently it is probable that the 1934 crop will be insufficient to meet ■ local requirements.. _ A resumption of importations ot Australian wheat into Italy appears to be likely later this year. Formerly Italy depended largely upon importations, but under the Mussolini regime a prohibitive duty, which reached approximately 4s 6d a bushel in June, 1931, was imposed on imports to encourage home production. Imports into Italy decreased from 99,000,000 bushels in 1928 to 51,000,000 bushels in 1931. The country consumes each year about 296,000,000 bushels. In 1933 there was a record harvest ot 272,000,000 bushels. Australia has supplied portion ot the Italian imports, but between 1927 and 1932 the amount supplied decreased from 12,000,000 to 3,000,000 bush els The Italian crop is not harvested' until June. Australia should, thereforer be able to supply Italian needs from the current season's crop, the harvesting of which will be completed this month.

WOOL SALES !N SYDNEY. SYDNEY, January 25. At the Sydney wool sales }}£f> bales were offered and 10,138 sold (1/W privately). At to-day's closing auctions there was strong general competition, with a keen demand by Germany and Japan Values generally were fully equal to late rates. Greasy merino made 303 d for nine bales from Armi'Vlie average price of wool for the first three days this week was £24 10s per bale, or 20.6 d per lb.