THE GRAIN MARKET.

Evening Post, Volume LXXIII, Issue 130, 3 June 1907, Page 7

THE GRAIN MARKET.

LATEST DEVELOPMENTS. [PBER3 ASSOCIATION.} CHRISTCHURCH, Ist June. Enquiries made among grain merchants in the city this morning show that very little business is doing in wheat. Some of the farmers are still asking 4s 6d a bushel, but millers and merchants are not willing to give moro than 4s. Wheat has been offered at a shade over 4 s at country stations. One merchant said he doubted whether 4b 4d would be given, and thought it likely that- 4s 3d would be the price. Most of the mills, vith the exception of the small country ones, did not need to l>uy at present. The boom seemed to have been caused by a few millers buying to fill immediate orders, and very little business in wheat was dono at that late high quotation. It is expected that the easier tona reported in the Home market will iafluence the local position. TEVIARU, Ist June, Much interest was shown to-day in the wheat market. Some fanners sp'd at Is 3d, but others oxpected 4b 6d, and are holding out for that. It ia reported that 4s 6d and 4s 6£d f.o.b have been given during the -week by outside buyers for two lots. An offer of wheat from Melbourne at 4s and 4s o£d f.o.b. has been received. At present flour is £11 for sacks, and bread is 7d per 41b loaf cash. AUCKLAND, 2nd June. An Auckland flcur merchant stated yesterday that ho received a telegram from Christchurch stating that one iirm had raised the price of 'lour for Auck- [ land to £11" 10s a ton f.o.b. Lyttelton, less 2A pel" cent, discount. As freight and other charges amount to 12s, thie would make a net price horo of £11 16n 9d a ton. It was unlikely any business would be done here at that figuro while local quotations icmain at tho present figure. Respecting Mr. Millar's statement aa to the possibility of Parliamentary "m • tervention, one merchant said it* nan nonsense, as the matter -was beyond control in the colony, and depended -on the state of the English market. "Tho only way in which the Government! could interfere," ho said, "was by buying up all the mills and running them as State concerns, but they could not compel farmers even then to soil wheat l6wer than the market rate. They cannot control outside markets, whicL govern ours." TO-DAY'S QUOTATIONS. CHRISTCHURCH, This Day. The wheat niEi'Tcet has receded to 4b at the country stations, and the opinion is freely oppressed that the recent oxdtemont was unjustified. There ia nc shortage of -supplies in New Zeoiiaii. There is no chance in the pSce of flotni and a 41b Joaf is selling -at 7d from today. CONCISE STATISTICS. The deaf loaf of bread is malting th« general puWic take a worm interest iv tho wheat market. The folkwrilsg tables, taken from tho Lyttelton Timos,, put the position succinctly Ist March, ISO? %225,ZCn Estimated yidd of new orrp .. •q,8<6,'i140 Total available yll tbr •ht-w crop is rcatly on Ist Klmch. 1908 .- .. h,VTifitO WHEAT REQUIRED. _ iushela. Twelve months' cnnsumptiion .. .. S'ESOjOQO Required for «ed .. _ _ 414,7% j "Total Tomrirements „ .. 5,99<!,1& Wlietft on hand on lrft Match, HB7 . . 6 173 74'J Wheat required t.ll Ist March, 1908 . . 5,934,18(1 Apparent eurrilus ira^C* The Government official* estHnatu the probsfole consumption by assinninf,that *ach man, ■wo&n.a, and child, iii the colony is responsible for the cok^ -cmnption of six tashels in twelrn i months, a method of calcnlating which experience has shown to be approximately correct, adds ihe Times. Thu department has also estimated laso year's harvest to have produced an average yield of tAvcr*y-four bushels to the acre. These figures sbow, oh paper, that thorc is plenty of whteat in the -country, but with .so small a margin it is obvious -that it is ordjr necessary for a few farmei-s or merchants to hold firmly to their stocks to bring about a t-hortase in the maricot. Fluctuations in price per bushel at London, Sydney, and Chi-istcJHirch, since the beginning of the year arc :^-

uanstLondon. S>xln*y. shuteK «s. <;. «. i], «. cl. .Tunuttry 1 .. 3 6 2 lOi 3 0 SWjruarr 1 . . 3 0 i? 11 j 1 March 1 .. 3 7 3 1 3 0 -ME-M 1.. 37 31 052 Hay 1 .. A 0 3 4 3 $ M»y H .. 4 U 3 6 i 6 M«y lo .. 4 1-i 3 6 nomuiil May 29.. 43 40 45 June 1 .. 4 H 4 0 « S ST.OOR (per ten). Snln<*;\ tflu Ute*mrch. £ v. d. £ E . (]. Jnnuory 1 . . 710 0 830 b Febru»ry 1 .. 7;0 0 810 0 March 1 .. 710 C 830 0 April 1 .. 710 0 S3O 0 May l .. 7io o sis (i May 14 . 8 0, 0 9 0 0 May 16 . . fi o 0 010 0 Mny 29 .. 810 D 10 0 0 June 1 . . 810 0 11 0 0