THE BREADSTUFFS AND PRODUCE MARKET.

Otago Witness, Issue 2561, 15 April 1903, Page 9

THE BREADSTUFFS AND PRODUCE MARKET.

Tuesday. The continued wet and muggy weather is having an appreciable effect upon harvest prospects in Otago and Southland. Oamaru advices state that fully half the wheat crop is still in stook, and another few days' rain must mean a considerable proportion of sprouted grain. The Taieri wheat is in still worse plight, a good areabeing still uncut, whilst some of the grain in stook is already pa?t saving. Farmers with grain in stack are not at all anxious to sell at ruling rates, but prefer waiting developments, and there now seems every prospect of abundance of chick wheat offering shortly. There is little or no animation in the local wheat market, millers being disinclined to operate with the present uncertainty as to the price of tiour. At the same time there is a growing fooling that wheat has reached bedrock, and should the bad weather continue buying may become general at any moment. The wheat market is a shade easier in Canterbury than in Otago, and quotations range as follows (in trucks, country sidings, in each case) : — Ashburton : K-unter'a, 3s Sd to 3s Bid; Tuscan and pearl, 3s 9d. Timaru: Red chaff, 3s 9d; Tuscan, 33 lOd ; velvet, 3s lid to 4s. Oamaru: Red chaff, 3s lid to 4s ; Tuscan and red straw, 33 llgd to 4s Ogd ; prime velvet, 4s to 4s Id. Dunedin millers are buying sparingly. Amongst recent purchases have been mixed lines at 3s lOd, on trucks, Ashburton ; a line of velvet slightly affected by smut at 3s lOd, in trucks, north of Oamaru; and a line of prime velvet at 3s lid, south of Oamaru. The Oamaru Mail says : "It is reported in circles that are usually well informed that the cutting fight amongst the millers is likely to come to an end very soon. One of the free millers, it is stated, has already had enough of it, and proposes to return to his allegiance to the Flourmillers' Association, while another is said to be willing to rejoin if a means is provided of ' saving his face,' as the Chinese would say." So far from this being the case at the present time in Dunedin, two of the leading mills are vending their flour outside of the association, and one of these firms has expressed its determination not to rejoin Lhe combine upon any terms. The bad weather has further delayed harvesting operations in Southland, and no oats are yet offering from that direction. This fact, added to the demand for shipment to South Africa by the Norfolk, and to Australia by the Whangape, has firmed the market for immediate delivery. The Norfolk loads 10,000 sacks at Timaru this week, and it is thought that the Whangape will have difficulty in getting cargo owing to the slowness of deliveries. Australian buyers are eager to do business on the basis of Is Bid, f.0.b., sacks in, for good B grade, but at the present time offers cf Is 6£d, on trucks, for Gartons, and Is 4d, on trucks,, for Danish will not bring business. Nominal quotations for oats in Canterbury range .as follows: — Milling Canadians, Is 8d ; sparrowbills. Is 6d to Is 7d ; Gartons, Is 5d to Is 6d; Danish and duns, Is 4d to Is 5d (on trucks, sacks extra, in each case). It is reported from South Canterbury (says the Christchurch Press) that there is a serious shortage in the supply of cornsacks, and that in consequence threshing will be delayed in certain quarters, the reason given for this shortage being that merchants had provided only for an ordinary harvest, while the yield has been unusually heavy. Further, owing to large South African shipments last year, centals were largely used, and this year this size of bag was stocked in considerable quantities. They are, however, little inquired for, and the demand has been for the bigger sack, the supply of which is inadequate. The scarcity has naturally had the effect of increasing the price, which has already advanced Id per sack on the quotations of a week or two ago. Inquiries made among Christchurch grain merchants confirm this report, for while some hold stocks of sacks, others are short. A few small lots are coming to hand via Melbourne,, but it will not be until about the middle of May, when two vessels are expected from Calcutta, that any large quantities will be available to meet the present shortage. Thursday. There is no appreciable alteration in the local wheat market, but the tendency is certainly firmer. This is partly attributable to the covering of fairly large sales made some time" back to northern millers for April delivery, but southern millers are still operating sparingly for immediate requirements only. Sales of mixed lines of pearl and Tuscan are reported at 3s 9id jn trucks, .Ashburton. but in Oamaru district nothing is offering at under 3a lid to 4s, and holders are not inclined to give W.JI. Recent arrivals of American wheat have weakened the feeling in the Melbourne' and Sydney markets. The following is a list of fhe imports of foreign wheat into Sydney and Melbourne from the beginning of the yeal ' :— S>dney. Melb. Bushels. Bushels. Jan. 5 Fortunatus, s.s. (Calcutta) — 2S>°°"* 13 Trafalgar (San Francisco) 90,107 — 16Comenc, s.s (Buenos Ayres) 2,172 — 23 Marechal Davout (S.F.) 107.523 — 24 Vimeira (S.F) .. 134,823 — 28Claverdon (S.F.) .. 112,188 — 30 Celtic Chief (SF.) . 93,567 — 31 Sonoma, t>.*. (S.F.) . 250 — Feb. 10 Emma L a nrcn s (S.F.) - 18,716 12 CoT»yanna, s.s (C'dlditta) — 6.701 16Be!en (S.F.) .. 111,715 — 19 Edouard Detaillj (S.F) 113,908 — 20 Darius, ss. (Bombay) — 5,600 25 Crow l of England (S.F.) 103,211 — Mar. BAnjou (S.F.) .... — 301,205 8 Matterhcrn iPoitland) 110.238 — 13 Alsteiufer (Tacoma) UJ.,311 — 15 Riverside (Poitland) — C 1.313 20 Benicia (Tacoma) .. 101,000 — 21 Wandsbek (Portland) — 131,056 22 Anne de Liot.igne (S F.) 101,003 — 82 Biiaeus iS.F-1 110,810 a

24 Empereur Menelik

(S.F.) 103,423 28 Clydesdale (S.F.) >. 97,066

Total" 1,645,016 385.C28 * Also 36^2 bu3hels for Fremantle. The total imports of foreign wheat at Sydney, Melbourne, and Fremantle amount; to 2,034-,316 bushels. To this must be added 11,110 tons flour, equivalent to about 533,280 bushels- Wheat} -the total imports of wheat and flour thus being equivalent to 2,567,596 bushels wheat.

Advices recently received in Melbourne quote new Indian wheat at 145s per ton, c.i.f. and c, early shipment. This is equal to a shade over 3s 10£ d, c.i.f. and c 3lelbourne, ot, say, 4s ll£d, duty and wharfage paid. A smaU -quantity J^is been bought. The New Zealfhid Flour-Millers' Association, following the free millets' lead, 'have reduced the price of flour 10s''jjer ton.-, and their tariff now stands ' a,t-r£lo for sacks. £10 10s for 100's, £10 15s fot.SOV'W £11 for 255. The shipping price is. £IQ-"f:Q.b. The free millers are quoting the same-:rates. Bran still stands at £4 10= and pollard at £6 10s per ton. It is quite on the board?, however, that the next move in the game will be a reduction by the" association of the price of bran and pollard, and :of >the shipping price of flour. The market is quite bare of chick wheat

for the moment,

Owing to the which prevails regarding the Souihlantl oat crop -and tho scantiness of deliveries, there is- little or. no business doing. Quotations nominally" range from Is 4d to Is 8d on trucks, according, to , quality. There is a strong inquiry from Australia, and' evidences of a demand from South Africa, and it only needs the market to settle for a, ,big business to be done. The Christchurch Press reports that a considerable quantity of oats have been bought by outside firms for shipment by the subsidised steamers' to South Africa, a Melbourne buyer being one of the largest operators. The price of oatmeal remains unchanged at £41 per ton. Pearl barley is still quoted at £15 per half ton lots, and £16 for smaller quantities.

The potato market continues to fluctuate from day to day. The demand, for kidneys is dropping off, and Derwente are coming forward more freely. On the whole, trade is somewhat disappointing, and current quotations are : Kidneys £3 5s and Derwents £3 10s to £3 15s per ton.

The position of the dairy produce market remains unchanged: The Melbourne Argus of a recent date reports: — "From the mail advices it appears that the extensive speculation in stored butter in London during the past winter season resulted unfavourably to those engaged in it, owing largely to the fact that much of the butter did not keep well, and in Canadian butter the losses in some cases are said to have amounted to about 15s to 20s. after reckoning interest and charges. With regard to Australian butter, Dalgety and Co. (Limited) report in their circular dated February 26 as follows: — 'Statistics show the great fall-ing-off in imports from Australia, which for January stood lowest of all countries in the list of imports; and we regret to say that, so far, quality, as Well as quantity, shows a falling-off, the bulk of the butter landed up to date being poor, strong, and more or less heated and fishy. Some parcels which had -been in cold store in Australia before shipment have specially suffered from these defects, and in some cases from the unsightly appearance of th-e boxes. These remarks do not apply to New Zealand butters, the quality of which is m most cases fully up to the standard of previous years.' " Locally the supplies of dairy and best milled buter are short, and the market is firm at late rates— viz. : Dairy butter, 9d to 9id; salt butter, 9d; farmers' separator, lOd to 10id; first grade factory,- lid for bulk and lljd for pats. Cheese is rather easier — viz: Akaroa, s£; prime factory, s|d to 6d. • The Easter demand has firmed the price of eggs, which are quoted at Is 6d to Is 7d, whilst a few sales are reported at Is Bd. It is anticipated, however, that after the holidays prices will recede. The market ha 3 been glutted with poultry for Easter, and the demand not being too good rates have receded as follows : — Roosters, 2s 9d to 3s 3d; 2s to 2s 3d; ducks, 3s to 3s 6d ; geese, 4s 6d ; turkeys — hens *id to sid, cocks 7d to 7£d. Pigs are coming in more freely, find curers will not now give more than 5d -for baconcrs (up to 1601b) ; overweights, 3£d to /4d. Bacon is in better supply, and is selling at B±d. Hams, 9d to 94d. There is a better feeling in the chaff market, and prime bright samples of oat sheaf chaff are worth from £3 7s 6d to £3 12s 6d per ton.