PRICE OF WHEAT.

Auckland Star, Volume XXXVIII, Issue 244, 12 October 1907, Page 5

PRICE OF WHEAT.

MARKETS EXCITED. PRICE MAY REACH STILL HIGHER. (By Telegraph.—Press Association.) CHRISTCHUB.CH, Friday. The New Zealand FlourmiUers' Association held a meeting to-day, and advanced the price of flour to £12 per ton. The rise is evidently in anticipation of the advanced prices that must now be paid j to secure supplies of wheat. Millers have held off in the hope that prices would 1 ease, and they are now finding their stocks getting low, and prices decidedly firmer. Aa high as 4/10 is reported to have been paid at country stations this week, j but holders have been standing out for 5/, and it is anticipated that even oilers of this figure will scarcely suffice in the present state of the market. The agitation that took place for a removal of the duty on wheat and flour is said to have deterred many farmers from putting in more wheat, and at the \ 6ame time the rise in the market in Australia would have prevented the landing of any quantity of cheaper wheat had the duty been taken off. It is expected that a rise in the price of bread will follow. There is no doubt now that following upon the strong position of the wheat market in Australia, prices must advance still further in New Zealand, as the wheat is not held by speculators this year but by the farmers themselves, but the stocks remaining ascertained to be very light, Wheat sold to-day in the South at 5/3 and 5/4, but as cable advice had been received that wheat is now 5/ in j Sydney, that simply means the price in New Zealand will be raised to an equivalent of the landed , cost of Australian wheat. If s£d per bushel duty, aTid 3d per bushel freight is added to tlio price it will bring quotations for wheat in New Zealand to 5/9 J. Of course at such high figures, millers cannot make flour to sell at present rates, and any advance will probably be followed by a rise in the price of bread in .Auckland. •A meeting in committee of the Auckland Master Bakers' Association will probably be held shortly to discuss the situation in reference to the advancing price of flour. It is still regarded by the trade as oxtremely uncertain as to whether bread will be rais;d from its present figure (7<L per 41b loaf). PRICE OF BREAD. (By Telegraph.—Press Association.) TIMAB.U, this day. The bakers of Tijnaru decided to raise the price of bread irom Monday next to I 7*d and Sd. (By TelegrapU.—Press Association.) CHRISTCHURCH, this day. blaster bakers meet to-night to consider the question of raising the price of bread owing to the further rise in flour, which on Thursday was increased by £1 per ton in sacks. Holders of wheat stand out for increased prices, but buyers hold off. Barley is practically out of supply.