LONDON MARKETS.

North Otago Times, Volume XXXVI, Issue 7466, 14 September 1892, Page 4

LONDON MARKETS.

r The New Zealand Loan ai.rt Mor ca"fc>'e Agenoy Company report under date August 5 th : Wheat. — The wea her here daring the earlier patt of th" pa«it month wa very changeable, bat lately it h*s been more settled, and under the influence of bright lun&hine the cropB thronfihout the country are rapidly approaching maturity. Cutting has already been commenced in certain favorably situated districts, and under ordinary circumstances harvest operations may be expected to become general in the course of a week or ten days. Whle in vieir ot the depressed state of the markets, farmers have restricted their deliveries as much as poes.blp, values have ruled vety low, the imperial averages for the four weeks being respectively 29 2d, 29i 1 i, 29 h 3d, and 29d 5d per quarter. In this connexion t may Us lemarked that tho lowest price recorded during the present century was in June, 1889, when the Imperial average touched 28a 9d per quarter, which it will te observed is only 4d per j puar er below that for the second week of (he peiiod under review. The spot market for wheat has beeb 8 ibjected to considerable fluctuati ns, the iesiiU in great measure of the variable weather wh'ch has prevailed, but the tendency of values has been dowweard and although thero is rathers firmer tone at tho clote, the demand ontinuea dull and quo'atiom are more of Irss nominal. Id view of the he*vy B ocks in granary and abund*t>t supplies st : ll to come forward, as well as the generally favorable harvest reports, the position is not such as to encourage sppcuUtcn, which is practically dormant, and as millers are content simply to purchase in order to cover con°um ~ t.ve requirement 1 , that there is little to poiot to any marked improvemeni tiking place in the near future. It s animated by The Miller that, while the quantity ot wheat and flour required up to the harve t is two mi li n quivers, available supplies ag^re^te over feven million qaaitfra. Should therefore this view prove to bo ooirect t'ie new cereal year will Ptart with a legacy of about five millions qnaiterc, and conaequ ntly the United Kingdom rsquirements for the Autumn will be sub sfieJ by the purchase of from two to three m'llion quarters less than wcr j ts'< Q o at the correaponding period last year, A Lir quantity of Australian wheat h <* been ctlered " ex stand," but of N *v Zealand, supplies in granary until recently have been moderate. Lately, however, samples have been more treely Bhowo, bus t n'y a heni ed business has been 'ransaced. Cargoes in all pinions have met a slow pi q rry aod in view of the low prices obtaioable holders of grain "on passage" h »ve generally not been eager sellers. Californian No. 1 was disposed <>( e-rly i,) the mouth at as low as 34s per 300 lbs., ' ut values subsequent y rf coveted i\om 9i to la per quarter Recently, however, the tone has been weaker, and sales have bten effected at 34a 3J per 500 lbs. Only one Australian cargo has been sold '• off coast," while of Ntivr Zealand the Peruvian and Uiyfe part oats, from Lytiehon, in same position have changed hands T.ier? are several New Zealand oargoep ol wheat for eale <( on passage ;" but 'n coubeqnence of the dull demand, thm is liuh likelihood of s*les being effec eJ prior to arrival at port of call. With line weather there is a weaker feeling at the oloBe. Oats, — There has been no falling oti in importations from .New Zealand, bui the eoqu ry has been well sustained, and values for really fine qualities hsve ruled in seileia' favor. The Lake Erie, Augusta, snd Wnaland are for sale on passage, but, in cjiisequenc^ of tne uufiatiefactory ou'turn of some recent Bh'i men^B buyers refuse tj make bida, except oa " lya terms." B trley. — UnchangeJ. B-aDB and Peas — There u no change to repirt. Fluar has fluctuated more or le?s, in eympatby with wheat. The stock of Aua'ralian is small while the market is baie of New Zealandi Maize is in fair demand, and recont arrivals from New Zealand have met a re«dy sale, at advanced prices C cksfoot — The relatively low prices rul ng fur thia article have tended to b njiiiliie the enquiry, und considerably mote busintBd hae rec°n 'y teen passiog. Holders are endeavoring to establish Bime advance in quotations, but with a c luskltrable quantity of seed still to be r c-'ived, and a reported large crop in Auiet.ca, it is doubtful whether any material improvement will take place at present. We quote present prices ex granary as follows : Australian Wheat — per 43Glbs.

Waiter (at fche club)—" There's a ad/ oa^ida vho nj-a tint her hnsbund pro-niaed tb.it he would be home early to-ni'bt." A.U ( mm;*) — t{ Erca39 me a in i u •<•>■,"

Nol No 2 ew Zealand Peas — Average ... Wrinkle oar Zflalanrl Cnokafoo it34* 29 35 per 504Ibs 0 „ 37 0 0 „ 31 0 0 „ 38 0

Heavy Ordinary ew Zealand Beans — per Imperial qr. - 27 0 „ 28 6 ... 23 0 ,, 26 0

No. 1 No. 2 ew Zealand Oats— 22 per 44Slbs. G „ 25 6 ii ~*

Superfine Patent 'ew Zealand Flour — Patent Fine ew Zealand Barley — per : 23 27 2SOlbs gross 0 „ 2.3 6 0 „ 27 6 >> ~~

South Austra'ian Victorian ... _ few Zealand Wheat — LoDg-berried, fine „. ,, medium ... ,, inferior ... Short-berried, fine ,, medium... ,, inferior ... .uetralian Flouris. 34 34 34 32 ui b. a 0 to 34 6 0 ,, 34 6 0 „ 34 6 6 " 33 0

Fine Medium ... .. Inferior .. ew Zealand Maize — Maize .„ per 11 21 bo. nett. 38 0 „ 44 0 34 0 „ 36 0 31 0 „ 32 0 per 4801bsl 23 0 „ 24 0