CANTERBURY MARKETS

Hawera & Normanby Star, Volume XLIV, Issue XLIV, 7 May 1924, Page 3

CANTERBURY MARKETS

CHRISTCHURCH, May 6. Oats have taken a sudden bound into the limelight. On Friday they were quoted at 4s 8d f.o.b. sacks in. Today sales have been made at 5s Id to 5s 2d. Oversellers are apparently getting anxious; hence the scurry. It is all paper business, as there is little demand for the actual oats. Speculators are now satisfied that the oat crop js a very short one, and delay in covering their forward sales is a risky business. One of the causes of the sudden jump is no. doubt that the Canadian May purchases cannot be delayed on account of the lack of spa-e until July, and the price has also advanced in Canada. It is apparis apparent that some speculators have been hit badly by the swing of the market, as the last December sales for May-August delivery were made as low as 3s 3d and 3s 6d.

Met weather has held up the digentvr of potatoes, but enough are coming to hand to fill all the space available Inquiries of Christchureh merchants' from i.^lbounie cannot secure quotations under £6 per ton for June delivery llus makes the future for Canterbury potatoes much better, as at present quotations here on .trucks (£5 5s per ton) the tubers should be available on the Auckland wharf at a substantial less puce than the Melbourne price it Tvould appear that local prices will be nrm in June and July Linseev] is .still weak. Reports are j in it the crops are poor, but this is not I having .much of an effect on prices, as thP- outside market rales the position' *.'oc-l«foot. Though sales are few n^r«mi!ts are not rodiu-hm the quotations as the prico they paid does not allow

iv J\ '\ '•(?n<?'^ the cowgrass from } Lngisml, wlmh has just arrived, is nor j ol veiv,- good colour.