BIG DEAL IN WHEAT

Evening Post, Volume XCVI, Issue 14, 16 July 1918, Page 8

BIG DEAL IN WHEAT

2,000,000 BUSHELS

BOUGHT IN VICTORIA,

The Government has bought 2,000,000 bushels of wheat in Victoria to make up the shortage in various parts of New Zealand.

The Minister of Agriculture stated to a Post representative that the threshing returns revealed a considerable shortage of grain. There was also the fact that some millers, particularly in the South, said that they were in urgent need of Australian^ wheat for mixing. The whole matter had been thoroughly discussed',with farmers, with the result that the information available for the Government indicated a probable decrease in the area that would be sown in wheat this year.

After getting a careful estimate of the whole position and,' the prospect up to February next year, the Government decided to buy. Australian wheat. Mr. Shirtcliffe, of. the grain department of the Timaru Farmers' Co-operative Company, was sent to Australia to negotiate on behalf of the Government, in conjunction with the New Zealand Trade Commissioner, Mr. Manson. After a thorough inevstigation in New South Wales and Victoria they received an offer of Victorian wheat, an option of purchase of 2,000,000 bushels. This option was to be open till midday yesterday. The deal was closed in good time by cable, on terms regarded as satisfactory in the circumstances. The price is not available for publica- ■ tion to-day. Although the price of the purchase is for the present undisclosed, it can be assumed to I'be in the vicinity of 5s Bd. By_ the last Australian mail. the official prices in terms of flour for export to New Zealand, July to September, 1918, were 5s 8d per bushel; Hongkong and Shanghai. 6s; other Eastern markets, July to September, 6s 4£d. For local consumption the price is -4s. 9d per bushel; but for below fair average quality, 3s 6d to 4s 6d, according to sample.