GRAIN AND PRODUCE.
SOUTHERN MARKETS. POTATOES EASIER. SOUTHLAND'S OAT SUEPLUS. {I>y Telegraphs—Own Correspondent. \ CHRISTCHUKCH, Friday. Lacking the stimulus of business with Australia rates for potatoes have eased a trifle, Auckland interests refusing to become alarmed by the interference with digging operations brought about by the bad weather. Their opinion, as expressed last week, was that July is not a major digging month and that there should be plenty of potatoes in sacks for present requirements. Sales of potatoes for July delivery ivere made last week at £6 a ton f.0.b.5.i., one transaction at least touching £6 5/. This week the quotation is £5 15/ f.o.b.s.i. at Lyttelton or Timaru and there are more sellers on the market than there are buyers. There are some quotes being circulated at £G, f.0.b.5.i., Lyttelton. For August-September . the market is fairly firm' Sellers quote £G 5/ and buyers offer £6. An odd parcel or so might be secured at £0 2/0. There is the usual inquiry from Australia, but although offers are too low to lead to business the inquiry is exercising a big effect on the speculative market. The present situation makes for caution, yet even if Australia came on the market for supplies it is doubtful if export, would be heavy. Many merchants would prefer not to take the risk of exporting stocks, but rather the coastal shipping business. On the oats market rival interests are girding for a big bat.tl.e. Oversellers maintain that the market is weak, holders that it is firm. Both sides admit that, there is hardly any business. Just at present interest centres upon Southland, where almost all the stocks comprise gartons. Reports have been made from the Bluff that stocks are very small. It is now ascertained that oats in store in Southland comprise the large quantity of 83,320 sacks and there yet remain oats in stack for the spring threshing. Shipments from the Bluff have been light, the quantity sent away between January 1 and June 30 being. 10,221 sacks. The latest figures issued by the Government Statistician show that 904,----039 buehels of oats have been threshed, but, he adds a proviso, that figures generally cover only those returns received to the date given, there still being a few April returns and a larger number of May returns outstanding. The quantity in bushels he gives .'as having beeii threshed in Southland roughly is equal to 200,000 sacks. Of this quantity 16,221 sacks have-been shipped. One estimation is that milling requirements absorb 00,000 bushels 'in a year, and the seed requirements are 30,000 bushels. On this estimation there is a surplus of 93,779 sacks, independent of the quantity that will come forward after the spring, threshing. Holders in Canterbury claim to be unconcerned by the position in~Southland". They admit that offers have been received for the sale of large quantities •of oats from Southland, but they do riot admit that market rates have slid below 4/0 to 4/6J a bushel, f.o.b. s.i., f.o.r. a.s, and 4/2 for b.s., and they ,claim that some quantity of the oats iii store in Southland is held on account of a milling concern. Trade with Auckland in grade oats has been affected by the sales of Algerian's, Which are worth 3/3 a bushel, f.'b.b. 5.0., Lyttelton, .or lid a bushel under the rate for B Gartons, but whether the situation is such that a slide in prices o.f Gartons ie warranted is one that is fiercely disputed by the various interests. There has been a sharp rise in the price of onions and purchases have been made at from £9 10/ to £10 on trucks, sacks extra. There are few local onions available, the season being.about over.
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Auckland Star, Volume LVI, Issue 162, 11 July 1925, Page 6
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616GRAIN AND PRODUCE. Auckland Star, Volume LVI, Issue 162, 11 July 1925, Page 6
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