THE PRICE OF WHEAT.

Evening Post, Volume LXXVII, Issue 140, 15 June 1909, Page 3

THE PRICE OF WHEAT.

fßr Telegraph.— Special to Thk Post.] AUCKLAND, This Day. Speaking to a Herald representative regarding the Christchurch telegram denying that* Australian buyers had been operating on wheat in New Zealand, and that half of the estimated surplus of 2,000,000 bushels of wheat had been expoited, a prominent local flonrmiller stated that it might be true that up to the present only 521.543 bushels of the apparent surplus had been exported, but ho had authentic information from several reliable southern gram merchants that the sales for London had been over one million bushels., and that the balance was waiting shipment as. the arranged tonnage arrived. "I do not," he proceeded, "anticipate a wheat famine, but a stiff market, ab the present southern price of flour shows a lo&s to manufacture at the price the farmers can get to ship their wheat to London. It is obvious that while the London markets remain as they are, the southern millers must do one of three things — advance the price, cease milling, or in milling u&e an inferior quality of wheat. Only a few days ago a southern grain merchant wanted to borrow a few thousand sacks to ship to Sydney, as he recognised it was cfangerous to go on the market for it. Evidently the FlourmilJing Association, in its eagerness to keep the association together, has got itself into a very awkward fix, and will leave no stone unturned to try to break down the price of wheat to save itself from loss." Fprbss association.!