COMMERCIAL.

Press, Volume XLVIII, Issue 7863, 14 May 1891, Page 4

COMMERCIAL.

MELBOURNE MARKETS.

The following is Messrs H. R. Carter and Co.'s monthly market report under date Melbourne, the Ist Inst.:— Tha market for cereals has been subjecced durinpt April to a considerable amount of agitation, some surprises contained In the official agricultural statistics being the immediate cause. The figures presented to the public have now been so thoroughly discussed, both privately and in the Press, that we don't propose to make more than general remarks regaraine them. Whatever degree of reliability may be credited to them, they have stimulated business considerably in wheat, and other descriptions of grain have been indirectly affected in some decree. Wheat—At the close of last month the market ruled steady at 3s lid for prime. Immediately on receipt of the knowledge that the Government figures showed the season's yield to be approximately 5,000,000 bushels below the current estimates large business was done at 4s 6d, followed closely by transactions rising to 4s 10$ d. After a reaction to 4s 6d, buyers came forward, and another jump took place to os. Again an easier feeling set in, and values of good to prime range from 4s 9d to 4s 10d, as we write, for trade lots, with a disinclination to give the latter figure. At the same time there is not much offering, and the large holders decline to consider busin ess v nder ss. Deliveries are less, o wing to farmers being everywhere occupied with field work, and, with a rather lower market in London, it seems as if business would be much less active in the immediate future than it has been. Vessels that have been loading are rapidly clearing for Europe, and although it is not possible to tell the po?' ion of charterers of vessels yet to arrive, they certaiuly do not as yet manifest any anxiety in regard to them. Opinions vary on the question of the accuracy or otherwise of the official returns, but the preponderance of evidence is in their favor, as against the early estimates, and while we cannot for a moment endorse statements pointiug to eensational scarcity, the position of holders seems to be in the meantime sufficiently strong to enable them to control the local market more or less independently of movements abroad. : Regarding the position of the colonies as a wnole, we believe there are ample supplies for all needs, without having to resort to foreign imports, but the general stocks are seemingly sufficiently limited to give holders rather the advantage. Barley has improved considerably, and the market stands strong at the advanced prices. Considerable business has been carried through at from 4d to 6d advance. The market still continues strong at up to 3e 4£d for prime. 2s 9d to 33 3d for medium and good, and all prices down to 2s 2d for inferior. Cape Barley has advanced quite U, and is selling at la lid to 23 U, ex store.

Oats have shown a little sympathetic flrmnee<i, and Algerians show improve. meut. Supplies, however, have been fully equal to trade requirements. Victorian milling are worth 2s 10d to 3s, short feed 2s 6d to 2s 9d, tartarlan seed 2s 5d to 2s 7d, long feed Is lid to 2s id, and Algerians la 9(1 to 2s 2d. Bond business has been done in New Zealand sorts at Is 10d to 2s. Arrivals have been larger, and have mostly come direct to consumers, without changing hands here. Maize has improved slightly, and good to extra prime sells at 3s to 3s 2d; inferior as per condition. Peae have continued to improve slowly during the month, and are firm at 2s7d to 2s 7£d.