COMMERCIAL.

Evening Star, Issue 14002, 8 March 1909, Page 6

COMMERCIAL.

THE WHEAT OUTLOOK Press Association—By Telegraph—Copyright. LONDON, March 6. "Beerbohm" estmates that the requirements of the wheatrimporting countries will be 63,000,000 quarters, and that the probable exports will be 54,750,000 quarters. Therefore, unless the trade has been greatly deceived in Teepect of America and the Argentine, high prices are inevitable. THE MARKETS. Press Association—By Telegraph—Copyright. LONDON, March 7. (Received March 8, at 8.10 a.m.) Copper : Spot, £56 10s; three months, £57 ss; electrolytic, £SB. Tin : Spot, £l3O ss; three months, £l3l 15s. Lead, £l3 8s 9d. Antimony, £7 15s to £B. Tin : Plates, 12s 4d and 13s 4d. Angle steel, £5 to £7. Copra : A better demand. South Sea is quoted at £l7 7s 6d. Hemp : Quiet. April and June shipments, £23 10s. The' kauri stock is 458 cases. Wheat : A cargo of Australian sold at 40s. Rabbits : Easier. Large Australians arc retailing at 17s to 18s; email sorts, 15s to 16a. Frozen Meat: Sheep—Canterbury, unchanged ;• Southland. 3Jd; North Island, 3d; best brands, 3|d. Lambs—Canterbury, light medium 5 3-16 d, heavy 4Jd ; Southland, unquoted ; North Island, 4 3-16 d. Beef unchanged. Australian sheep, heavy 27-16 d, light 29-16; lambs, be*t brands 4d, fair quality 3§d, inferior quality 3|d: beef, fores 2id, hinds unchanged. River plate sheep, heavy 211-16 d, light 2!d ; labs, 3|d; beef, fores 2/.d, hinds unchanged. GRAIN AND PRODUCE REPORTS.

Messrs Dalgety and Co. report as fol-lows:—-We held our weekly auction sale of grain and produce at out" stores to-day. when we submitted a large catalogue to a good attendance of buyers. Competition, however, was not very keen; especially was this noticeable for "chaff, of which our offerings were heavy. Most of the lots offered of oats and wheat quitted at valuations. Values ruled as under:

Oats.—The position of this market ; s almost without change with regard to inquiry and demand, which still continues not over-brisk. A few lines of this season's oats have been offered, but little business has yet been reported, growers in some instances refusing really good offers on the market. Business" is confined chiefly to small sales of old oats ex city stores for local consumption. We quote: Prime milling. Is 5d ; good to best feed, Is 4d to Is 2d to Is per bushel, ex store (sacks extra).

Wheat.—Fairly large transactions were put through during the past week in Taieri and Northern lines at prices ranging from 3s 8d to os lOd on trucks (sacks extra). Latest London cable advices report a strong market. Fowl wheat is not over plentiful, local and good samples realising as high as 4s 3d per bushel in small lines ex store (bags extra). Potatoes.—There is a poor inquiry, and arrivals continue fuDy equal to the demand existing. We quote: Prime, £2 17s 6d to £3 ; medium, £2 10s 2d to £2 15s; inferior, £2 5s and upwards (bags in). Chaff.—At auction to-day heavy offerings were submitted, and the primesf lines only have buyers' attention, medium and inferior lofce_ being more or less neglected. Late quotations are not maintained. We quote : Extra choice old. £3 ss; good old oaten sheaf, £2 17s 6d to £3 2s 6d; inferior, £2 5s upwards; best new chaff £2 15s to £2 17b 6d (bags "extra). Straw.—Market fully supplied. We quote: Oaten and wheat en, 55s per ton, pressed.

Donald Reid and Co. report:—We held our auction sale of grain and produce at our stores to-day, when wo offered a representative catalogue to a good attendance of buyers. Competition was brisk, and we cleared the bulk of our catalogue at quotations. Prices ruled as under:

Oats.—There is no change to report, although any lots offering on the spot are readily saleable at last week's rates. Prime Garton6 meet with most demand, both for shiDping and local use. There J s still a small stock o { old oats in store, and these are moving off slowly for lot-ill consumption. We quote: —Prime milling, Is sd; good: to best feed, le 4d to 16 4£d; inferior aod medium, Is 2}d to Is per bushel, sacks extra. Wheat.—Owing to the firming tendency in foreign markets millers are keen buyers of all samples of the new season's -wheat offerjng._ These are in first-class condition, and mdicatkms point to the present prices of 3s 8d to Ss 9d »t country stations beim* fully maintained. Fowvwheat is in short supply, and sells at from 4s to 4s 3d per bushel, sacks extra.

Potatoes.—Supplies forward during the past week have l>een somewhat in excess of the local demand, and prices are, if anything, a shade weaker than those ruling lately. Prime ripe lots are worth to £3 per ton, while etale and unripe are quitted at from £2 12s 6d to £2 I7s 6d per ton, bags included.

Chaff.—There is a. large quantity of both new and old chaff offering, and present prices show a slight decline on those of last week. Prime old heaw sheaf is in most request, and .sells at from £3 to £3 2s 6d, with extra choice up to £3 ss. The bulk of the new chaff is in good condition, and is worth from £2 12s 6d to £2 17s 6d[ medium and inferior to £2 10s per ton' sacks extra.

Straw.—We quote:—Oaten to 355, wbeaten 30s to 32s 6d per ton (pressed).

A CORRECTION. WELLINGTON, Maa-ch 8. The Bank of Australasia dividend cabled on Saturday is "12 per cent.," not " 12s per share." The former is equivalent to £2 8s per share. NORTH OTAGO MARKETS. [Special to the Stab.] OAMARU, March 8. Ihere was a good demand for wheat last week. A fair amount of business was done, the sales aggregating fully 11,000 sacks. Prices- varied considerably according to quality and railage distance, but most of the business was done on a basis of 3s 9d for velvet and Tuscan and 3s 8d for redchaff. The market, however, closed with prices a shade higher, and a few sales, though of no magnitude, were reported on Saturday at 3s lOd for velvet and 3s for Tuscan and redchaff. The chief tales of the week were 2,000 sack 6, mostly velvet, at 3s 9£d net. delivered in Oamaru ; 1,000 sacks, in equal proportions of velvet and Tuscan, at 3s 9d net, delivered at the mill from a carting distance ; 400 sacks of velvet and 300 sacks of Tuscan on the same terms ; 800 sacks of velvet and redchalf and 800 sicks of velvet at 3s 9d, Jess commission, on trucks at a distant station; 800 sacks of velvet, 550 tacks of velvet, 300 sacks of velvet, all at 3s 9d net on trucks at country- stations. A parcel of second quality milling was taken at 3s net, delivered in Oamaru. Velvet wheat is in especial request to meet southern requirements. A few transactions in Garton oats are recorded at Is 3d, less commission, at country stations, but the sales do not cover any quantitv, and growers are disinclined to sell at sent rates.

A parcel of malting barley, somewhat off color, was sold at ss, less commission, .at a country station. There has not been much doing in potatoes. A few lots were shipped during the week, mainly to the West Coast. Purchases of Up-to-Dates have been made at £2 10s net, at country stations. Very little digging of potatoes has yet been done, but samples coming forward are good and clean. The weather has continued excellent for harvest work, which has made good pi»gress.