GRAIN AND PRODUCE MARKET.

Press, Volume LIV, Issue 9817, 28 August 1897, Page 6

GRAIN AND PRODUCE MARKET.

(by ova commbrcial bditop..) Friday Evukino. The extraordinary rise that has taken place in the European and American wheat markets was not altogether unexpected. The millers iv England have been working upon unusually light stocks for some time past, and the damage to crops on the Continent, coupled with the shortage in Franoe, accentuated the position and inflated prices. The damage to the spring crops in parts of America also tended to excite, the markets there, but tho latest advices show that both in that country and England the upward tendency has received a check, and prices have receded somewhat. The, quantity of wheat and flour afloat for the United Kingdom and Continent is quarters, as against l t 7so,Qoo quarters last week. The American visible supply is 22,168,000 bushels or 127,000 bushels below the previous week.

The quantity of wheat held in Victoria is now in small compass, and the sharp rise at home has affected the local values, as it is anticipated that the oolony will bs required to export before the new crop is available. The public cable meseage denotes a rise of a half penny, but private advioo has been received since of a somewhat sharper advance. The Sydney market haa also improved 2d per bushel during the past week, milling wheat now being worth 4s 3d to 4s sd. The Adelaide market remains stationary at 4s lid to ss.

The local market has firmed considerably during the week, and though there is not much busine&s doing the sales that have been effected are on the basis of a penny rise in values. Early in the week several parcels of fair to medium quality wheat changed hands at equal (o 3s lid to 3e lljd f.0,b., and during the last few days a line of prime milling .Tuscan has been placed for local consumption at 4a at a country station, equal to nearly 4s 2d f.o b. Another parcel of the same variety of fair quality was sold at 4s at Addington. A mixed line of from 1200 to 1400 bushels of damaged wheat wae placed fetv export at a price also showing an advance on previous sales. Several thousand sacks that were in agents' hands for disposal have been withdrawn for th«s time being, owners preferring to await further developments. A fair amount of business is doiug in Dunetlin in prime velvet and Tuscan, bat medium sorts are difficult to dispose of. Quotations are 4s 3d to 4a s£d for velvet and 4e 2d to 4« 4d for Tuscan.

The Melbourne oat market shows a further decline in feed descriptions, la 6d to la 8d being the quotations, but milling have improved from 2s to 2* 2d. New Zealand heavy feeding are still worth 2i 5d in Sydney. The Christohurch oat market ia very qniet, the business passing being of ft U*ed to mouth character, and prions an

weakening. A line of short feed has heen sold at equal to 2s 2d f.o.b. for local consumption and long feed at 2a afc Clin'stchurch. The enquiry for oats at Duuedin has improved, but owners' reserves stand in the way of much business being done. Seed are worth 2s 3d to 2s 6d, milling 2s Id to 2s 3d, and feedlslOd to 2s.

The potato market is dull, and the tendency is to weakness. The Auckland quotations show a decline, Southern potatoes being worth £3 15a to i! 4. There is nothing doing in other lines of produce. The New Zealand Loan and Mercantile Agency Company report that at their monthly grain sale, held yesterday, they submitted a varied oatalogue of about 4000 sacks to a fair attendance of the trade, but bidding for all classes of produce was dull and lifeless, and as buyers' ideas of value did not come up to owners' reserves, the greater portion of the catalogue was passed in unsold. The following prices were realised : —Milling wheat 3s 9d to 4s lfjd, whole fowl wheat 2s 9d to 3s 6d, seconds 2s 3d to 2s 6d, oats, prime feed 2s to 2s Id, feed barley 2s 4d, potatoes, Blue Derwents? 35s to 40s.* All the above prices were for delivery in Christchurch.

The following are current prices paid to farmers, f.0.b., Lyttelton, for direct shipment from country stations and free of commission, except where otherwise specified :— Whkat—Good to prime quality pearl 4s Id to 4s 2d, Tuscan 4s to 4s Id, Hunter's 4s to 4s Id, second quality wheat about 2cl lower.

Oats—Prime milling 2s 4d, good stout feed 2a Id to 2e 2d, fair short feed 2s Id to 2a 2d, Duns 2s 3d, Danish 2s Id to 2s 2d.

Baruky—Prime malting 3s 9d to 4s Id, medium do 3s 3d to 3s 6d, feed 2s 3d to 2a sd, Cape 2s sd. Beans—2s 7d to 2s Bd. Peas—Blue Prussians 4s 3d to 4s 6d, feed varieties 3s 3d to 3s 4d. Flour (millers' quotations)— Roller £11 103, stone £10. Sharps—Bos. Bran—76s. Oatmkal—£l3. Oatshkaf Chaff—6os at country stations. Potatoes—Derwenta 32s 6d at country stations. Grass Srrd— Ryegrass, farmers' lots 2s 3d to 2s 9d, machine dreased 38 6d to 3s 9d, aud heavy shotty seed up to 4s ; cocksfoot bright 3J,-d to 3|d ; discoloured 2sd to 3d ; cowgvass 6d to 7d; white olover to 6Jd ; alayke, 5Ad to 6£dDatry Pkoduok —Cheese 4d to loaf 4d to 5d ; butter, factory Is, do in boxes 9d to 10d, dairy 7d to 10d, salt in boxes 6d to 7d; bacon bjd, do roll 6Jd to 7d; hams 7£d.

Tms Nkw Zeacakd Farmkrs' Co-opera-tivk Association of CANTKRBcmr, Lto., quote as follows on Avigust 27th :— Wheat—Prime milling Pearl .. 4s Id to 4b 2d f.0.1i, „ ~ Tuscan .. 4s Id ~ „ „ Hunter's.. 4« Id „ Seconds, clean .. .. 3a to 3s 3d ~ Oats—Dune .. .. .. 2s 3d „ Good stout feed .. .. Zi 3d ~ Hilling .. .. &j 3d to 2s Id „ Barley—Prime mtiltlng .. 4a „ Medium .. .. 3sM .»

Beane.. .. .. .. 2s 7cJ to2s 8d „ Peas—Prussian Blues .. .. 4a 3d „ PartridKe .. ..33 3d „ Ryegrass —Farmera'lines .. 2s 6d „ brkrht seed .. 3£d „• Medium grades .. ..3d ~ Chaff—Good oatsheaf (nominally) 60s at country stations Potatoes—Derwents .. .. 32a 6d