GRAIN AND PRODUCE.

Auckland Star, Volume LVIII, Issue 44, 22 February 1927, Page 4

GRAIN AND PRODUCE.

FLOUR DOWN AND WHEAT WEAK. POTATOES AND ONIONS CHEAP. MAIZE IX SHORT SUPPLY. Local merchants find some difficulty in estimating the trend of the wheat and Hour markets. As one remarked to a "Star" representative:—-'"Only a few weeks ago the Southern millers were asking for a dumping duty, yet within the last few days they have lowered the price of Hour t'l per ton. We don't know what to make of it. Even without this dumping duty we could not import to compete with their present price. That being the case, why did they need a dumping duty? Then there is not nearly enough pollard for local needs, and we have had to import from Australia, yet they lowered the price £2 per ton. This is not ordinary business dealing, and just what the underlying object is we find it ditficult to discern. Meanwhile, merchants who have imported flour and milling offals are placecMn a difficult position in regard to stocks on hand. Other market features are an over-supply of potatoes and onions and a scarcity of maize. Too Many Potatoes. The potato market is very weak. Supplies from Pukekohe and surrounding districts have been coming to hand beyond the requirements of the market, and prices at auction have been below the cost of production. There is a fair amount of rust amongst the local crop which may account for the anxiety of holders to market the tubers before their condition deteriorates. As indicated previously there are ample supplies in this district to supply the local market until Southern potatoes become available at the end of March or early April. The Southern market has firmed up since last report, chiefly as the result of combined dry weather, which may have the effect of materially diminishing the yield. In any case, a hardening was almost inevitable, because the prices previously quoted would have meant purchasing from farmers at well below cost, and such an unprofitable basis could not be expected to continue long. However, with no export market in sight there is nothing to indicate high prices during the coming season. Onions Also Plentiful. As with potatoes, low prices are ruling for onions. Pukekohe has a large crop, and merchants are embarrassed in their efforts to place it to advantage. There was an opportunity of some business with Canada, but Australian merchants stepped in with lower quotations and secured the orders. The Southern crop is also much larger than was the case last year, and will shortly come into competition with the local crop. Maize Wanted. Only small quantities are coming forward from the Coast, and the market continues firm in consequence. Although the high prices are restricting consumption diverting many poultry feeders to wheat, there is nevertheless a steady demand from those who must have this particular grain. Oats a Weak Market. The oat market is weak, and any business done is confined to immediate requirements. Local opinion is to the effect that prices are likely to remain low as there is a bountiful harvest in the South and no export outlet. However, Southern farmers are showing no keenness to sell, as the prices offered leave them a very poor return for their costs and labour. No Change in Chaff. The chaff market is unaltered. Blenheim merchants report that prices are not likely to go. lower as farmers are holding firmly and only limited quantities are available at present rates. However, with a surplus in nearly all the chaff-producing districts there should be little difficulty in AucKland merchants obtaining requirements of the district at reasonable rates. Wheat Prices Easier. The last Australian wheat to come free of duty will arrive by the Waihora about February 26. Practically the whole of this cargo has been already sold for distribution from the ship's side. From March on this market will be entirely dependent upon Southern supplies. Latest advices indicate that the Southern market has further weakened since last report, and it is difficult to forecast the trend of values which depends upon the quantities purchased by Southern millers. Wholesale Current Prices. Flour—New Zealand, £17 10/ per ton, less 2% per cent discount for 2001b sicks of both local and Southern; Australian, £18 10/. Sharps and Bran.—Local sharps, £9 10/ per ton; bran, £7 10/ per ton; Australian bran, £10 5/; Australian pollard, £12; oat pollard, £8 10/ per ton. Grain.—New Zealand oats, feed, B Gartons, 4/4 "per bushel. Wheat: Australian, 8/3; Canadian, 7/6; Australian, JanuaryFebruary delivery, 7/6. Maize: Best quality, 8/6 per bushel, es-whart 8/3. Barley: Feed, 6/6 per bushel; Cape seed, 8/2 per bushel. Maize meal: 15/6 per 1001b. Barley meal: 14/6 per 1001b. Chaff.—Blenheim, G. 8.0.5. £10 per ton ex store; Australian, in bags, £10 5/ to £10 10/. Onions.—£7 10/ per ton. Potatoes.—Pukekohe, £7 per ton, at Auckland. Peas.—Blue Prussian, No. 1, 13/ per bushel; Partridge, No. 1, 10/ per bushel; lower grade, 6d less.