Interim Payments For Wheat Crop

Horowhenua Chronicle, 23 December 1933, Page 6

Interim Payments For Wheat Crop

“PRICE COULD HAVE BEEN HIGHER’ ’ CHRISTCHURCH, Last Night. Business has been more or less suspended in the last few days and offices arc closed to-day for the holidays. One or two will re-open next Thursday, but the bulk will not reopen until the first week in January. Discussion in the trade to-day centred in interim payments for the wheat crop. The general' opinion is that the price could have been 2d or 3d a bushel higher without incurring much risk, as the crop is not likely to be anything like the bushelage of last season, and there will be less loss on exported wheat on account of the smaller surplus. Opinions vary widely over the prospective yield on account of differing views held in regard to the effects of the recent frosts. Quite good judges put it down at as high as 32 bushels and others as low as 26 bushels per acre. Half-way between these two estimates will probably be found to be on the optimistic side. However, under the uncertainty, the Wheat Purchase Board no doubt felt that it had to err on the side of safety, in view of the fact that it stib holds a surplus of 1,000,000 bushels from last season. The prices are:. 3s 6d for Tuscan, 3s 8d for Hunters, and 3s lOd for pearl, all f.o.b. For January, February and March, an increase of 2d a bushel on last season, with monthly increments of Id per bushel up to and including August. The selling price to millers is unchanged from last season, being 4s 74d, 4s 94 and 4s 11 $d respectively for January-Mareh. Fowl wheat is meeting with few inquiries and is quoted at 3s 6d f.o.b. Oats are now attracting any inquiry. Their nominal value is 2s 6d f.0.b,, s.i., for A Gartons. Rain has improved the potato crop. There is practically no forward business, merchants preferring to wait post-holiday developments. Nominal quotations are £3 15s, f.0.b., s.i., for April-May-.Tune delivery.'.