GRAIN, SEED PRODUCE

Press, Volume XCVII, Issue 28660, 9 August 1958, Page 8

GRAIN, SEED PRODUCE

Future Of Small Seeds

The small seeds market has been reported for several weeks now to,be quiet, but with a firm undertone. The position at present is unchanged and there /is still little volume of. trade in white clover—the barometer of the New Zealand small seeds export market.

With continued reports of heavy rain in the United Kingdom, now coming at the most critical stage before the harvesting, it is more than likely that crops will be seriously affected in both yield and quality. The firmness maintained in the last weeks by New Zealand sellers may well be substantiated.

No sudden changes in the market are expected, however, but inquiries from United Kingdom merchants should show a definite increase.

Trade circles yesterday attributed. the firmness which has persisted in the white clover market to the bulk of the New Zealand stocks being held in merchants’ hands, bought at balanced levels of prices, and encouraged by the steady trickle of overseas trade conducted on very fine margins. The occasional speculative purchases and offers which have been made after spells of wet weather in the United Kingdom have, too, had their effect. , ■ Interest in Cowgr&ss

There has been some overseas interest in the last week in cowgrass. Britain and the Continent are large producers of this commodity and a trade source commenting on this, said that it was possible these crops had also been affected by the weather. • Australia is a big buyer of and for the last few years has bought mainly from France and Italy. If the Continent and the United Kingdom are likely to have poor crops, it can quite safely be assumed that New Zealand may be considered as an alternative. If this did eventuate, it could be a market which, if fostered, might be continued to the benefit of our trade balance with Australia. Lighter 1959 Crops There was a distinct possibility that the 1959 crops of ryegrass and other small seeds might be lighter thah usual, one merchant said yesterday. After one of the driest autumns and .winters for many years root establishment oi pastures may be affected and the plants less hardy in their resistance to the summer. Grassgrub damage has been reported to be fairly widespread and with increased wheat acreages and increased stock carrying capacities of individual properties paddocks may not be available to shut up for seed production. The source said that it might be considered a pointer to the unlikelihood of any weakening in the small seeds market and. coupled with the possibility of a lift in overseas trade, it could well be that the market would show a welcome change after two years of depressed trade.

Prices to Growers The following prices to growers were quoted yesterday by the Canterbury Grain, Seed and Produce Merchants* Association:— Ryegrass.—Northern perennial, 18s per bushel; p.p., 17s €d; uncertified, Ils; H.l mother, 18s; standard, 17s 6d. White Clover.—Mother, 99/90, 2s lid per lb; p.p., 2s lOd; mother, 98/ 90, 2s 9d per lb; p.p., 2s Bd. Cowgrass.—Certified 2s per lb; uncertified, Is 9d. Browntop (nominal) —Certified, 2s 3d per lb; uncertified, 2s. Montgomery Red Clover.—Certified, 4s 9d per lb; uncertified, 2s 6d. The president of the associaiton, Mr F. F Reading,, in arinouncing these prices, said that they were those which could be justified by the basic market quotation for each variety of seed. They did not take into account day-to-aay fluctuations of a speculative nature.