COMMERCIAL.

North Otago Times, Volume XXXVI, Issue 8507, 29 June 1896, Page 2

COMMERCIAL.

OAMARU MARKET REPORT. North Otago Times Office, Saturday afternoon. Locally business during the week has been dull, and recent files inform us that the English and foreign wheat markets continue monotonously dull. At the end of last month the hnglish market was quiet but steady, the Continental market changing a little for the worse, and the American mnr* ket declining and weak. During this month there haa been no improvement ; Indeed, the English market baa become weak m tone, and the Continental inactive, and the American dull. It is observed that the chief reason for the dulncss of the former markets is the bright harvest prospects throughout France and England. There is this, nowever, to be said, chat notwithstanding these prospects the quantity of Btocka on hand and afloat for the United Kingdom is more moderate than it has been for.years past, and that speaks well for the maintenance of those prices at present oh«. taining. There miy be variations m values, but it is not anticipated that these will be other thnn Blight, although the crops of Europe a« they are harvested will not tend to improve prices. It is interesting to note from a farmer's point of view that the total quantity of wheat afloat for the United Kingdom and the stocks of foreign wheat m the hands of English farmers is according to Beerholm's estimate lower this season than it has been since 1891. The following is the estimate: Year. Quarters. 1891 6 600 000 1892 ... .„ 8 060,000 1893 8,923 000 1894 7 668.000 1895 7,902,000 1896 , 5,524,000 Yet millerß at Home do not seem to be influenced by these estimates i There will be little wheat from India, and scarcely any from Australia this year, although it is estimated New Zealand will be able to send away 1,000,000 bushels. It is pretty certain tbe other colonies will require some of thin Taking a comprehensive view of the wheat, market of the world, however, it ia probable that wheat will not for a year or two bo down again to balf-a-crown a bushel. Although business is dull locally, 3s 4d at the Biding haß been offered during the week for velvet, and this} class of wheat haa been bought a. from 3a 4d to 3s 5d Btore delivered. Prime Tuscan is at 3s 3d, and inferior wheat 2a 9d to 2a lid. Oata are slightly easier, at la lOd for prime short and Is 9d for long oats, but faimers are asking la lid, and business is inactive. Barley is quoted at up to 3s 3Jd for prime malting. Potatoes are quoted at L 2 2s 6d to L 2 6b nt the Biding and store respectively. The other markets are unchanged. Dairy produce 5e unaltered. Factory butter, lOd to lid ; dairy, 8d to 9d. Eggs, lOd.