THE WHEAT OUTLOOK.

Press, Volume LXIII, Issue 12934, 14 October 1907, Page 7

THE WHEAT OUTLOOK.

(SPECIAL TO "THE PRESS.")

DUNEDIN. October 12. Owing to tho remarkable combination of crop fuiluree in nil parts of the "world, the prioo of wheat Jβ expectod to go to a higher lev©] than, for many ycara past. The German end Russian harvests arc turning out very much below the average, whilst in Groat Britain the yield is small. The Canadian crop promises to be n failure, the outlook in tlio United! States is not too good, and on top of theeo disasters corace tho newe of a prospective failure in India, and an expected drought in Australia. In conversation with a loading miller thie morning tho "Star" learns that all thie presages an extraordinary shortage in wheat during tho season now commencing. Already the price in London is 43s per quarter or over 5s per bushel. In Melbourne -wheat stands at 5s per bushel, and tho price in Dunedin, to-dey is from oa 3d to Sβ Gd or over £1 i>or bag. Under these circumetanoes tho public may expect to pay still higher prices for their wheat ami bread stuffs. This unfortunate state or things has been brought about not by any artificial trade combination but by a secies of purely natural causes. It is eta ted that millers buying wheat and eejltng flour at to-day's prices, stand to lose at least 10s per ton on the transaction.