GRAIN AND PRODUCE MARKETS

Dominion, Volume 16, Issue 177, 14 April 1923, Page 8

GRAIN AND PRODUCE MARKETS

CANTERBURY PRICES

By Telegraph.—Pbebb association.

Christchurch, April 13. The announcement made during the week that the wheat agreement would ho ratified, or rather that the Government would not interfere in the arrangement, which amounts to the same thing, has given a certain amount of relief to farmers and the trade- However, the extent of the relief is limited as far as farmers are concerned, as the millers have now good supplies on hand, and there is no haste on their part to increase stocks. The millers so tar are not paying the difference between ordinary prices and those arranged, but it is expected that this position may end at any time. Fowl feed is quoted at 4s. 3|d., f.o.b. Ratification of the agreement in regal’d to milling wheat prices has slightly firmed the market. There is sure to be a big proportion of undergrade wheat, and already growers are complaining at the rigidity of the grading standard established at Lyttelton, which it is asserted is much more severe than that set by local mills. _ Tho oat market shows no alteration from last week. Gartons are quoted at 2s. Bd. to 2s. 9d. at country stations- In the absence of Australian business, the market is disposed to weaken. Chaff remains unaltered at £4 to £4 10s. at country stations. The white clover market is easier, and sales are very difficult to effect. The price of Danish cocksfoot has improved at Home by ss. per cwt., but this is not enough to induce any improvement in tho price of local seed. The cocksfoot market may be described as “sick.” Quotations of American red clover are coming to hand at lid. per Ib., 0.i.f., equal to about Bd. at country stations in Canterbury- The foreign seed is of good quality. Partridge peas have shown a movement, due to forward sellers coming on the market to fill April boats. Up to 6s. 9d. f.0.b., 5.1., has been paid, or the equivalent at country stations of from ss. 6d. to ss. 9d. There is very little movement in grass seeds, which are quoted at from 4s. 6d. to ss. to farmers. American information during the week states that Danish red fescue is offering freely at a price that limits Southland values to Bd. per lb. to growers. Crested dogstail is another Southland product that has lost its old-time remunerativeness. Sales have been made of dressed seed that make the value of undressed at country stations about 4d. per lb. The cause of the easing is that production has increased much more rapidly this past year or two than consumptive capacity. The potato position has firmed during the week, due to a wild rush of orders from the north and also to the results of diggings not coming ujp to expectations. Merchants’ quotations cover a of from £3 10s. to £3 17s. 6d. Tho Katoa will leave Lyttelton on Monday for Auckland with a fair consignment, and will be followed later in the week by another boat.