COMMERCIAL.

Press, Volume XLVII, Issue 7552, 15 May 1890, Page 4

COMMERCIAL.

AUSTRALIAN MARKETS.

Mbssbs Daioetx ajsd Cosipahtt, Limited, report on the grain and produce markets under date Sydney, Ist May, as follows :— During the past month the weather has been very wet and unsettled, the result being the heaviest flood? in the far western districts and northern rivers ever known in the colony. This, together with the partial stoppage of railway communication, and bad state of the country roads, has had a depressing influence upon business, causing our usual supplies of maize and forage from the local districts to be very uncertain; the consequence has beep a sharp fluctuation of prices for the articles.

Wheat.—Both town and country millers are heavily stocked, although deliveries during the month have been comparatively light; 3s Id to 3a 2d at mill doors or country stations is still the ruling value, and 3s 6d to 3s 8d on rail trucks in Sydney for prime full grain. Large quantities are now in store here principally on millers' account the quality of deliveries In most cases i very uneven, most samples containing more or less rusted and shrivelled grain. Flour—No alteration in value of imported or local production, the quality of town and country brands giving bakers every satisfaction. We look to see little alteration in prices for some time. Maize—Daring the early part of the month supplies were steady, and prices kept firm from 3d 9d to 4s Id, but Queensland, which but a short time ago was one of our best customers, is now sending us large supplies. Early last week some 10,300 bags arrived in one day, followed by large quantities from the northern rivers, which had accumulated during the stoppage of communication. Prices have had a sharp drop. The quality of the Queensland product is very indifferent, but still it gets into supply. If imports continue on the same scale we shall certainly see prices settle lower than at present, 3s 3d to 3s 7d for Queensland and 8s to 3s 10d being present value. Chaff—For really prime a steady demand exists. Tasmanian and Victorian ranging from £4 to £4 10s. No supplies yet from New Zealand. Nominal values £3 10s to £4; inferior, bad colored and unevenly cut, no value at all. Oats—Large quantities are arriving by every steamer from New Zealand. Stocks are very heavy, quality is generally inferior and they are only going slowly into supply. The bulk of arrivals is of last season, and has been in store there since then. Some few parcels of this season's growth are prime and good color. Light and discolored from Is 6d to Is 10d, short, plump, good color, 2s to 2s 2d. Potatoes — Continuous heavy arrivals from Tasmania have overstocked the market. Early last week some 40,000 bags being on the wharves and in stores, value has receded to £4, and sales are difficult tof effect at this, bayera only operating for immediate wants, expecting the market to be still easier, lhe quality of several lots has been complained of as being very uneven in size. New Zealand at moment is worth 70s to 755, but as their full crop is now ready for delivery, should arrivals come in as heavily as Tasmania, lower prices must rule. We understand there is some demand over on your side at present for tonnage for grain, but on account of the very few unengaged vessels at present in these waters, we have lately not been able to put before you any offers. At the moment we do not think there is a single unengaged vessel in this port, the most of them being chartered prior to arrival at home for coals, &c, and from reports to hand, we understand there is a scarcity of tonnage all round. Melbourne, MayL A month ago we summarised the general outlook for tne grain markets as "rather the reverse of bright, ,, and April- has amply justified that forecast, for business .has been dull and unsatisfactory, and the tendency of values has been against holders, some lines having suffered considerably. Wheat has eased from |d to Id per bushel, sales of fair to prime ranging from 3s 7d to 3s Bsa, at which the market is steady, with sellers at the latter figure, and buyers at up to 3s Bd. Shipping business has been very restricted, and only practicable when low freight is available. Inferior sorts are offering plentifully, and have eased several pence. Sales at all prices (for feed only) from 2e 3d upwards. Flour has not appreciably altered in value. Stone is worth £8 to £8 ss, and roller at £815s to £9 ss. Barley has fallen fully 2d to 3d all round. We have placed parcels of good to prime malting at 3s 9d to 3s lid, which are very full prices as the market now is. Maltsters are well supplied, and are indifferent buyers. Offerings by auctioneers have been very heavy, but business done publicly has been ridiculously small. A moderate trade done privately. Inferior and medium very plentiful; good to prime offered very sparingly. Considerable sales of thin English at 2s 2d to 2s 4d. Oats have .eased perceptibly. Public offerings of Victorian have been injudiciously large week by week, and sales have been limited at a reduction of fully 2d, ranging from Is 8d to 2s 10d. The absence of stout qualities has led to increased business In New Zealand descriptions, but at lower prices. We have made considerable sales both on the spot and to arrive, at prices ranging from Is 10d to Is lUd under bond; and at 2s 91 for damaged, up to 3a 2d for prime, duty paid. The higher figures can hardly be reckoned on, more especially should arrivals show further increase.

May 7. There is at the moment not a disengaged vessel in this port; as soon as there are any new arrivals, a charter for them is effected at home. Clancaird and City of Athens are both under owner's instructions to proceed to Newcastle. Annandale is under orders to proceed to Bankoko: Golden Horn is to sail for Calcutta ; Greystoke Castle is under Home charter for San Francisco via Newcastle. Kilban, Minna, and Mathilda Denssen are all under owner's instructions to load at Newcastle for the West Coast of America. Duke of Argyle, lam advised, is to load at Timaru; Loch Katrine is to take the berth for London. Adelaide, May 5. The Government statistics for the past season have just been published, showing our «verage yield per acre to have been 7 bushels 551b. This we estimate will give us a surplus available for export of about 300,000 tons. Of this about 140,000 tons have already been sent away. Engagements are about 30,000 tons, which will leave a surplus of about 130,000 tons available for export to be provided for. Shipments continue to go forward to the United Kingdom anof South Africa on a fairly liberal scale, both wheat and flour going to the latter place; value of wheat to-day is 3s 7d to 3s 7Jd per bushel at outports. and Ss 8d to 3s Bsd per bushel at Port Adelaide, with our millers eager buyers at the latter price owing to shortness of stocks. Farmers are still busy seeding, so are unable to deliver. They show no disposition to part with what they hold, as generally speaking they look for en advance in prices a little later on.