OVERSEAS MARKETS.

Auckland Star, Volume LX, Issue 246, 17 October 1929, Page 4

OVERSEAS MARKETS.

CHICAGO WHEAT PRICES. A SHARP DROP. (Australian and N.Z. Press Association.) (By a Correspondent.) CHICAGO, this day. Wheat prices fell to the lowest point since early last summer under heavyliquidation and discouraging export business. Large available stocks of grain apaprently drove all bull sentiment from the market. The decline here has been precipitated by reports of weakness at Liverpool and other world markets. Wheat closed for December delivery at $1.30%, March $1.38 Vi, May $1.41%. SYDNEY WOOL SALES. VERY STRONG COMPETITION. (Australian and N.Z. Press Association.) SYDNEY, October 16. At the Sydney wool sales to-day 10,850 bales were sold under very strong competition from all sections, particularly the Continent, Japan and Russia. The market showed the best features of the-week. Demand was especially keen for quality lines. Greasy Mrino sold to 19d.

FALL IN TIN PRICES. LONDON, October 16. Since October 1 the price of tin has dropped steadily. It reached £189 7/6 per ton yesterday. This is the lowest quotation since 1923. CAUSE OF FALL. (Australian and N.Z. Press Association.)

(Received 11 a.m.) LONDON, October IC. Tin to-day was" quoted at £189% to The "Austral Press" learns from well informed sources that the recent drop has been chiefly due to speculators bearing the market. The price is not justified by the statistical position and is certainly not due to the formation of the Tin Producers' Association, as suggested by a section of the Press. DAIRY PRODUCE. Messrs. Joseph Nathan and Co. have received the following cable from their London principals, Messrs. Nathan and Trengrouse, Tooley Street, dated October 15:—New Zealand butter: 183/ per cwt. New Zealand cheese: White, 94/; coloured, 93/. Both markets quiet. Messrs. Newton . King, Ltd., have received the following cable from their principals, Messrs. R. and W. Davidson, Ltd., dated 15th October:—Butter: Market firm. Salter, 180// to 184/; unsalted, 186/ to 190/. Cheese: Market quiet. Coloured, 93/ to 94/; white, 94/ to .95/. Messrs. Dalgety and Company, Ltd., report having received the following cablegram from their London house, dated 15th instant:—Cheese: New Zealand, 1/ lower. Coloured, 92/ to 93/; white, 93/ to 94/. The New Zealand Loa nand Mercantil Agency Co. has received the following cable from ts London house dated October 16:—Butter: Choicest salted, 182/ to 184/. Cheese: White and coloured, 93/." Market quiet. LONDON TALLOW SALES. Messrs. Dalgety and Company, Limited, report having received the following cablegram from their.London house, dated Kith instant:—lo9s casks of tallow offered and 36 per cent sold. Prices are 6d lower for most descriptions. There will be no public sales this week.