CANADIAN WHEAT.

New Zealand Herald, Volume LXVI, Issue 20251, 10 May 1929, Page 9

CANADIAN WHEAT.

CONGESTION CONTINUES.

ADVICE FROM EXPERTS

Australian and N.Z. Press Association. WINNIPEG, May 8

Tho grain congestion in tho east is regarded merely as temporary, according to Air. George Alclvor, general sales manager of tho Canadian wheat pool. Local pool officials dc.iy a rumour that European buyers vvero boycotting Canadian wheat awaiting lower prices. Mr. Mclvor said the pool was continuing to do a normal export business through the Pacific and eastern ports. Tho present situation was due to the early opening for navigation of the Great Lakes and the delay in the opening up of Lachine and Erie Canals.

Reports from Montreal state that no relief for the congestion is in sight. Three more freight boats have arrived in the harbour.

In tho House of Commons at Ottawa, Mr. Robert Gardiner, leader of the United Farmers' Party of Alberta, said the lack of export orders had caused tho congestion. The Royal Bank of Canada, in a prepared statement, says so many uncertain factors enter into the case that any accurate forecast of the trend of wheat prices would bo practically impossible. But, in general, the world wheat situation.is regarded as relatively satisfactory. Grain prices at Winnipeg were a fraction higher to-day. The congestion has not improved at the ports. Vancouver experts have issued tho following advico to prairie wheat growers, the railways and the great financial interests :

Scrap the system of marketing which lies up wheat in uneconomic winter storage on tho castbound export route till it is forced to meet competitive grain from the Argentine and Australia. Remove the artificial barriers which prevent the placing of Canada's grain on the world markets immediately following the harvest.

Move wheat westward to Vancouver as soon as it is threshed. Rush to the market through a port free to shipping all the year round.

CHICAGO WHEAT MARKET. Australian and N.Z. Press Association. CHICAGO, May 8. Wheat. —May, 1 dollar 63 cants per bushel; July, 1 dollar llg cents; September, 1 dollar 15 cents; December, 1 dollar 19j cents. CHEAP FLOUR AT HOME. ACCUMULATION OF STOCKS. Australian and N.Z, Press Association. (Received May 9, 8.15 p.m.) LONDON. May 8. The price of flour may easily be reduced a further 10s per quarter, says a leading Liverpool trader. The stocks now in Liverpool warehouses • exceed 500,000 quarters, compared with the normal amount of 200,000 bushels, and further arrivals are expected daily. The accumulation of Hour is due partly to the great frost in February, which, resulted in the closing of Continental ports and compelled Canadian, United States and Argentine exporters to dump flour at Liverpool and other British ports. Flour now is cheaper than at any time since 1914.

SYDNEY WHEAT MARKET,

QUOTATIONS FOR PRODUCE. Australian and N.Z. Press Association. (Received May 9, 9,55 p.m.) SYDNEY, May 9. The Sydney wheat market is dull, awaiting developments in America, where the grain trade is reported to be demoralised. Bulk wheat hero was to-day offered at 4s 6d for parcels on Sydney basis. Flour: £ll 10s. Pollard: £7 10s. Bran: £6 10s. Potatoes: Tasrnanian, £ls to £l6; Victorian. £l4. Onions: Victorian Spanish, £l2: New Zealand Spanish, £l3; Globes, £ll. Oats: Algerian, 4s; white, 4s 7d. Maize: 6s 2d per bushel. Adelaido prices are : Wheat: Growers' lots, 4s 2d to 4s 2id. Flour: Bakers' lots, £lO 12s 6d. Bran: £6 2s 6d. Pollard: £6 10s. Oats: 2s lOd.

LONDON DAIRY VALUES. Joseph Nathan and Company, Limited, lias received tho following Cablegram from its London agents, Messrs. Trengrouso and Nathan:—Cheese: White, 85s; coloured, 86s. The New Zealand Loan and Mercantile Agency Company, Limited, has received the following cablegram from its London house, dated May B:—New Zealand Butter.—Choicest salted, 167s to 168s; market firm. New Zealand cheese: White, 85s to 86s; coloured, 87s to 89s; market slow.

Leonard and Ron, Ltd., h.»ve received the following cablegram from their London principal, dated May B:—Butter: 1665; market steady, but slow. Cheese: White, 85s to 86s; coloured, 88s; market weak.

LAMB AND MUTTON PRICES. The New Zealand Meat Producers' Board has been advised by its London manager that tho following retail prices were being quoted for New Zealand lamb and mutton retailed in London on Mav SiLamb.—Legs, 15d per lb.; shoulders, 14d; loins, ,13d; necks, 8d; breasts, sd. Mutton (wether). —Legs, lid; shoulders, lOd ; loins, 'lOd ; necks, 7d; breasts, 4d. NEW ZEALAND APPLES. Australian and N.Z. Press Association. LONDON. May 8. The Hororala's New Zealand apples are somewhat wastv. Others are in fair condition. Prices realised were:—Jonathans, Wolslevs and Dunns, 12s to 15s; Ribstons, lis to 12s; Delicious, 14s to 16s. Pears.—Packharos, 5s to 6s; Boscs, 6s to 7s 6d; Cornice, very wastv. SOUTHERN EXCHANGES. [BY TELEGRAPH. —PRESS ASSOCIATION.] WELLINGTON. Thursday The following sales were rriado on the Stock Exchange to-day:—Bank of New Zealand, 61s lOd, 625; Mount Lyell, 14s 3d, 445; Auckland Gas, 24s 6d; Holden's Motors, 30s 6d; New Zealand Government per cent Bonds, £IOO (two); Commercial Bank, 30s. 3d: National Bank of Australia (£5 paid). £9 16s 3d; Bank of New Zealand (long term). 295; Gear Meat, 42s 9d; Colonial Sugar £SB 10s CHItISTCHURCII Thursday. The following sales were made on the Stock Exchange 'to-day : —Bank- of Adelaide. £lO 3s (two) ; Commercial Bank of Australia, £7 8s 6d; National tnsur ance (cum div.), 16s 8d (two); Now Zealand Refrigerating (£1 paid), 16s 6d; Tooth's Brewery, 58s 9d, 595; British Tobacco. 47s 7d; Mount Lyell (cum div.). 44s Bd, 44s 7d, 44s 6d (two), 44s sd. 44s 4d (two), 44s 3d (three); Mahakipawa, Is (three); National Mortgage. 85s 3d (two), 85s; Staple's Brewery, 465, 45s lid. DUN ED IN, Thursday. The following sales were made on tho Stock Exchange to-day:—Mount Lyell, 44s 6d; Gear Meat, 42s 9d (two); New Zealand Government. 44 per cent. Inscribed Stock, 1938, £IOO (two).