THE PRICE OF WHEAT.

New Zealand Herald, Volume LXIII, Issue 19265, 2 March 1926, Page 12

THE PRICE OF WHEAT.

MILLERS AND FARMERS.

A TEST OF ENDURANCE. POSITION IN CANTERBURY. ————— * [llY TXXEGRAI'II.—OWN CORRESPONDENT.] CnitISTCHUECH, Monday.. "At present it looks like developing into a tussle between tlie millers and the farmers as to which can last out the longest," said a leading grain merchant to-day, when asked if many sales of wheat were taking place on the basis of the prices which the millers are now offering. "The farmers aro walking in and out of my office practically every hour looking for buyers at 7s a bushel on trucks," ho add ad. Ono or two lines had been sold at millers' prices lately, but not for three weeks at least had any wheat been sold at 7s a bushel on trucks. At present, said the merchant, millers were offering 6s 8d for Tuscan, 6s lOd for Hunters, and 7s for Pearl wheat f.0.b., sacks extra. As it would cost on the average 3d or 3jd to bring the wheat from country stations to Lyttelton or Timaru that meant that the millers" quotations on an "on trucks" basis were 6s sd, 6s 7d and 6s 9d, sacks extra. The position three or four weeks ago, when the Australian wheat market was film and the first of tho new season's 'wheat was available, was that several millers, whose stocks wore exhausted, paid the price the farmers were asking, 7s a bushel "on tracks," rather than close their mills. As soon as they had bought a fow lines they were satisfied, and practically no business had been done on that basis since. Then last weok the position was practically a stalemate. The market in Australia nnd been steadily easing, and farmers were apparently not yet prepared to sell at the lower prices offered by millers. Ihe present parity of Australian wheat according to tho millers was tho same as the prices they were offering—6s Bd, 6s 10d and 7s f.o.b. The question at present was whether the iarmors would accept those prices or hold out in the hope of forcing the millers to pay more later on. In another week's time it would be possible to judge better what the result was going to be,