AMERICAN WHEAT HARVEST.

Press, Volume LIX, Issue 17814, 13 July 1923, Page 10

AMERICAN WHEAT HARVEST.

AN ENORMOUS YIELD. (BT cablx—press association—coptsioht.) (/.TJSTEALIAN AND S.E. CABU ASSOCIATIOXj (Received July 12th, 8.5 p.m. NEW YORK, July 11. Chicago reports state that advices from all parts of the United States and Canada predict an enormous wheat harvest. A DROP IN VALUES. (Eeceived July 12th, 10.35 p.m.) NEW YORK, July 11. The great harvest prospects in the United States and Canadian wheat belts have caused a rush to sell, which has driven new wheat down to one dollar a bushel. Wheat is selling at 99J cents a 'bushel, which is said to be below the cost of production. ' July prices later slumped to 99J cents, and September to 98 cents, but heavy foreign buying is expected to aid a recovery. AUCKLAND MARKET. (SPECIAL TO "TITB P3VE9B.") AUCKLAND, July 12. "Wholesale grocery houses are finding business quiet this week, and have had more time to attend to stocks and stock-sheets. Further quotations to hand irom Great Britain, Australia, and America point to a. general weakness in many lines, although tapiocas have firmed and the tea market is much upset. Canned fruits are being offered at cut rates. Retail business continues good, and the improved weather conditions ruling since the latter end of last week have resulted in all classes of trade benefiting accordingly. Country trade should improve shortly as the- short fine spell has already had the effect of dryingup the bad roads wonderfully. Hardware—Business between wholesale and retail is reported quiet this week. Tie Westmoreland is now due from West of England ports with some heavy shipments, and the Corinthic, due at Auckland next week, is carrying various lines whicih have been in short supplj. Builders and agents report business on the quiet side, as proposed advance to settlers of 95 per cent, of the cost of homes is having the effect in many instances of holding up transactions pending definite information. This is only to be expected, as naturally homeseekers So not feel disposed to purchase or build on current terms until this matter is finalised. Eggs—Tihe supply of eggs still keepa up well with a result that the drop in. price recorded last, week has been continued. _ At twopence, each, eggs under existing conditions are considered comparatively cheap, for the days are gone by . when "eggs a penny a piece" was the cry. The wholesale quotation to-day is Is 10d- per ,dbzen for fresh hen eggs, and Is id for ducks. The supply of duck eggs continues' very heavy. Potatoes —The market for potatoes is a little easier this' week, the quotation ex store now being £ll_ 10s to £l2 per ton. The JK&itangata is about due with a small lot of potatoes from Tasmania. Theße cannot be sold much under £l3 per ton. Onions —Supplies of Australian onions are due by the Kaitangata. The <price now asked is lis 6d per cwt. ex store. Southern onions are practically off this market. Maize —Only small lots of old maize are now being sent up. Growers seem anxious to forward the new crop- to market, but merchants at. this end are not anxious to. buy until the grain has bad more time to dry. With such a poor drying season there is -a risk of new maize heating in the sack if it is sent up too soon. The quotation i 3 6s 6d peT bushel ex store. Chaff —Some Australian compressed chaff has come to hand and proved to be of very good quality, and is quoted at £9 15ls pep ton ex wharf. Supplies of Tasmanian chaff are expected by- the Kaitangata. Canterbury chaff is quoted at £ll per ton ex Btore. Very little local chaff is being sent in. Oats —The market is a little easier this week, but the demand here is dull at the present time. The demand for seed oats is still delayed by the continued wet weather preventing ploughing to be gone on with. A grade Gartons are quoted l at 4s 8d per bushel ;ex store, and Algerian see 3 oat« at 7e 6d. Wholesale current prices aTe: —Superfine creamery butter, Is 6|d per lb for prompt cash, first grade Is 6d. second grade Is sd ; farmers', separator 1-Od per lb, cheese lOd to la per lb, hams lOd to Is per lb, bacon lOd per lb net, lard in bulk BJd, pats 9d> honey BJd to 9Jd, eggs, hens. Is 10d, ducks Is 4d per dozen, flour £l7 5s (less discount of K per cent, per ton in 20Olb sacks), sharps £9 10s, bran £6 10s, oatmeal (25-'s) £25 per ton. SOUTHLAND MARKETS. (special to "the pkess.") INVEECAKGILL, July 12. Fruit—The market remains quiet. Consignments of apples are much in excess of the demand. The marts are stored with supplies which they cannot sell. Good quality Delicious. are about, finished. Sturmers are coming forward very freely, but ore not selling readily owing to the heavy quantities of other fruits available. Pears aTe in better supply and prices have eased. Adelaide oranges and lemons are still available from the last shipment, but the market will probably be cleared before further supplies icome to hand. A small parcel of Island) orangea reached the market during the week and realised good prices. These came via the ferry boat and rail from Iryttelton. A further consignment of Island oranges and bananas is expected about the beginning of next week. Pines, passions, mandarins and melons are due by the- next trip of the Waikonaiti. Stocks of Poorman oranges have been cleared, and the next supplies should find a good market. A small shipment of cocoanuts from Auckland realised values. Approximate wholesale prices are as follows—Apples: Delicious 6s to 14s, Cleopatras 7s to 10s 6d, Scarlets 6s to 9s, Sturmers 7s to 9s; oranges, Valencias 255, Island 22s to 255; lemons 255, pineapples to 255, cocoanuts 25s to 30s, pears, dessert 3d to 4d per lb, coo-king Hd to 2d per • \b. " Oats—There has beenvveryy y little movement in oats during the past week. Very few 1 lines are offering from, farmers and it looks as if stocks will all be required before the end of the current season. The recent fire in the Shaw, Saville and Ablion Company's store at Bluff consumed several thousand sacks of oats. In an ordinary season this would not make any material difference but this year the loss of even, this quantity will have its effect. " Wheat—Local millers are still buying milling quality for August-September delivery at fixed prices, but have plentiful supplies in the meantime. Fowl wheat is in geed demand. Pricea-to farmers run from 3s to 4s' 3d, sacks extra,' country sidings. Chaff is still offering in larger quantities than the storage available can absorb Second rate chaff is difficult to place, but bright quality is wcrth irom £3 15s to £4on trucks, sacks extra. Ryegrass—The market continues firm, there being practically no seed on offer by farmers. It is unlikely that supplies in merchants' hands will be adequate to supply the local retail demand', in addition to the quantity required for Northern markets. Merchants now are very firm in their prices for dressed seed, believing, that this will still further advance. Potatoes—Reports are somewhat conflicting from Canterbury, but they seem to point to an easier feeling there. This is fortunate for Southland consumers, because local supplies will . not be sufficient to supply requirements. ls T o local table potatoes can be bought under £lO per ton on trucks. Up-to-date seed potatoes are in request. TALLOW. (Received July 12fch, 7.35 pm ) LONDON, July n At the tallow sales 885 casks were offered and 309 sold. Fine mutton was unchanged Other sorts declined sixpence a cwt. Dalgety and Company, Limited, have received the following cablegram from tho.-r London office, dated July 11th:_ "Tallow—At the weekly auction 875 casks tallow were offered, and 320 sold. Prices r.rminaliy par to sixpence lower. Owing to the strike business is restricted" Messrs AH. Turnbull and Co. are inreccipt of the following cablegram from their principals, Mescrs W. Weddel and Co Ltd.. dated London July 11th:— "At talW auctions to-day 900 were offered and 300 sold. Tallow market unchanged to Bd decline." Pyne, Gould, Guinness, Ltd., have receivrd the fo.lowing cablegram from their London agents, dated July 11th:—"The 1 nrctiois nre unchMsvd with demand' mostly i for ir.f-ior sorts. of offerinea ! -old, with very little bidding." |