CANTERBURY PRODUCE MARKET

Dominion, Volume 13, Issue 254, 21 July 1920, Page 10

CANTERBURY PRODUCE MARKET

By Toleeranh—Press As^hms'i'm. Christcrfurch, July 20. Tho oat market: lias a steadier feeling after the spasmodic "bump" of Inst week. As a result either of a "bear" from Auckland or legitimate misgivings as to the future several weak sellers have materialised, and ono firm sold rathor heavily at prices from sd, to Gd. below ruling quotations. Two other holder? followed suit in smaller quantities, but tho move, mcjit quickly slopped, and th* opinion of the majority of merchants who are holding firmly is that (hero was nothing to warrant the sudden agitation of the market. The suggestion of a "bearing" of the market is supplied by tho fact that practically nil ino heavy offerings made were "subject to confirmation," and tho business in most cases went no further. * It is known that northern merchants have sold heavily forward nt rates that will entail a loss on current quotations if delivery is to be enforced, and tho ieoling is Hint enforcement- is neccssary to stop these periodical flutterings. In the meantime merchants nre "sitting tight." noither buying nor selling, and in the absence of business iuo-

tations are to nn latent nominal, particularly in regard to business with growers, whoae holdings are now very small. The potato position remains unaltered, ami it is reported tkit considerable quantities of onions liavo gone to waste in the vicinity of Christcliurch.