GRAIN, SEED PRODUCE

Press, Volume XCVII, Issue 28536, 15 March 1958, Page 11

GRAIN, SEED PRODUCE

Quiet Week In Trade

Christchurch merchants report a very quiet week in the grain and produce trade. Almost without exception, there have been few inquiries frdm growers wishing either to buy or to sell seed. The Unkind weather has meant late harvests, with the result that sowing is also being held Up. There is not the same interest in retail buying of grass seed from merchants for sowing. In this respect, the volume of trade is considerably below that of other years in Christchurch. Usually, by mid-March, the merchants are meeting many demands on retail side, but not so far this year. General opinion is that the demand should quicken in the next few weeks* as the farmers catch up on their harvesting. Unless the tempo increases soon, there will be very little sowing in Canterbury. Ryegrass There is still no ryegrass being traded in Christchurch, and ohe merchant has described the market as being “completely dead.” Most dressets have given up hope of there being any value in the new crop. One firm, which usually does a large trade in ryegrass each year, has only had one line into store with a germination of over 78 per cent, on the final test. White clover is fairly steady, with little business in the last week. There appears to be very little interest from either buyers or sellers. The price always fluctuates freely at this time of the year, as changes in the weather have their daily effect oh prices in the trade. Seed coming into store is proving better in both colour and quality than was at first expected, and the bulk of th* Crop should be in store sooh. Merchants admit no continuity in values of white clover, which are at present subject to considerable speculation. There continues to be Very

little interest in lucerne, and trade is again almost non-exis-tent. Similarly, cowgrass is showing no activity. The price of cowgrass has remained almost stable for several weeks now, with very little demand for the seed in Christchurch.

There is still very little browntop coming into store, and general opinion is that most of the crop is not yet in the bag. It is too early in the season to attempt to gauge the price of this seed, say the merchants, but most of the new season’s crop should be in soon if the good weather holds. Merchants and farmers alike are hoping for a spell of good weather in the next week, to give the farmer time to pack his seed and get it into the store for dressing. Partridge Peas The February and March' harvests of partridge peas have mostly been loaded now for shipment to the United Kingdom. While the harvest was held up by the wet weather, there were no shipments in February. The London office of the Bank of New Zealand, in its monthly market survey, reports a slightly better demand for spot supplies of New Zealand white clover. However, the bank reports that mother seed has still been changing hands at prices below those quoted by New Zealand exporters. First-hand offers from New Zealand now range from 3s 9jd per lb to 3s Hid per lb f.o.b. for mother seed, and Id less for permanent pasture.

These prices show definite increases over those quoted last month, when New Zealand offers for prompt shipment were at 2s 91d per lb f.o.b. for mother seed, and 2s 84 d per lb f.o.b. for p.p. The January prices were 2s 8d and 2s 7jd per lb f.o.b. respectively. Ryegrass Quotations First-hand quotations in New Zealand for ryegrass, which the bank’s survey quotes at 26s 8d to 27s 6d a bushel f.o.b. for mother seed, are still considerably above the prices charged ex store at London., These are 18s 4d to 19s 2d a bushel f.o.b. The bank reports a similar margin between quotations for p.p. perennial and Hl ryegrass. February prices in London were 12s lid to 13s 9d a bushel f.o.b. There have been sales recently of all these ryegrasses in Australia, which suggests that the lower values in the United Kingdom make it possible for the seed to be landed in the Commonwealth against competition of * direct shipments from New Zealand to Australia. The survey says that all merchants in the United Kingdom are reducing stocks pending further progress in the spring trade. Some New Zealand merchants recently cancelled contracts for partridge peas at a cost of 10s to 15s per cwt. over the original sale price, as a result of bad weather in the Dominion. United Kingdom buyers expect the value lof No. 1 peas for FebruaryI March shipment to reach 70s c.i.f. This represents a considerable advance over expectations in December. which varied between 52s and 52s 6d. Prices to Growers The following prices were ouoted yesterday by the Canterbury Grain, Seed and Produce Merchants’ Association: — Ryegrass: mother perennial, 22s per bushel, p.p. 21s, Ofncertified 12s. Hl mother, 21s, standard 20s. Italian mother, 20s, standard 19s. White clover: mother 3s per lb, p.p. 2s lid. Cowgrass: c°rtified 2s per lb, uncertified Is 9d. Browntop (noipinal): certified 2s 6d per lb. uncertified 2s 3d. Partridge peas: No. 1,20 s per bushel.

The president of the association (Mr F. F. Reading), in announcing these prices, said they were those which could be justified by the basic market situ-

ation for each variety of seed. They did not take into account day-to-day fluctuations of a speculative nature.