THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 2905, 17 November 1909, Page 7

THE BREADSTUFFS AND PRODUCE MARKETS.

I Ffdiay. ' I The cablegrams during -the week indicate ' a steady market for forward shipments from Australasia, the general run of contracts being based on 37s 3d and 37a 4£d J per quarter. In the meantime, rhis figure represents a f air level between probable production and the demand -to be anticipated at the time of delivery, and it is not unlikely that the market, barring special factors, will settle down in this neighbourhood, though, in view of the estimates of world's production, thia should be qualified by the proviso that a firming I tendency may be experienced later on as the actual crop results become known. '• Beerbohm," under date London. October 1, reviews the position as follows: — , " There has been very little activity in the wheat market thia week, but the recent movements in the trade have tended, we thinks to show that a safe level has now be-sn reached. The extraordinarily large shipments since August 1 (4,250,000 quarters, against 1.360,000 quarters last year) have, of course, turnished the chief depres«;insr factor in the market, but in spit° o( rhese record shipments the averheto v. -f-kiv rotal for Europe has not been f4.«ri<v.»-.U, if at all. in excess of the re<jij.r»>j, ".rs which have naturally been inff< i's'hi by the absence of large supplies of nati-e wheat, both -n rhis country and in G-p -m.i'iv V " -i'.prnenra from other ootmtr-cs hd\ •-, •ntWx! been remarkably 'iio'lerau-, ''.-» lot ! •'■-om America and Canadu bn- <j on!v 2 270,000 quarters for' the pnsr <-itrht wer»k<;, against 3,900,000 quarters ls.s'. year. This is a somewhat suvprisinsr -esult in regard to America's sur- j plus, which had been generally expected to ' be "cry much larafer than last year. Canada, it is true, will now be shipping no doubt quite rreely, but her surplus can hardly be more than 8,000.000 quarters, o<rain«!t 7.000,000 quarters last year, and 6.000.000 in 1907; whilst from Argentina shipments of any imjwrtance are not to be exjwjcted until next January or February. Th* first apno-arances of reduced shipments from Russia will, therefore, no 1 ■doubt, trive tho signal for improving markets._ There are several reasons for this ' opinion. r urst. from what we learn in ' regard to "lie percentage of unmillable wheat in this year's English wheat cron. we are likely to require to import tho greatest quantity of foreign wheat on record—viz., 27A to 28 million quarters; the . record is, so far. held by the season 19041905, when 27,535.000 quarters were im- ' ported net. In the next place, Italy 13 showing that she also wants far more foreign wheat than we had supjx>sed early in the season ; and. thirdly, the Roti- ' ■nanian surplus is smaller than was antici- ' pafcC'd. and moreover is being practically all swallowed up by Hungary. Tlue result of ; all these modifications in the position is : that European requirements are likely to reach a total of 61.500,000 quarters, which, , added to the requirements of non-Euro- ! p«jn markets, would make a errand total ' of 69,000.000 Quarters, or 1.325.000 quarters' per week, including- 1.185.000 quarters per ' weak for Eurooe. With the apparent disaopointmenf in America's surplus, and with a probable smaller Argentina crop, there is in our opinion no likelihood of the exporting: countries being able to export such a total, which would be about 8 000.000 quarters more tha a »vas actually j exported last year. We believe , therefore, : that there i.s justification for the growing impression .that wheat is now very close to . a safe level -x "The world's visible sunply has increased about 3,000,000 quarters during the month

Storrie's Ridjrer is the only one with patent hillside attachment and facilities for packinsr drills where the land is dry.— } Nimmo and Blair. •

of Sepfcerriber, compared with an- increase o£ T 4.400,000 quaxtera Tast- year. The totals',,European and American^ are esttmated as follows,' 'compared with the actual returns for previous years, on October 1 : — .• The Woato's Visible Wheat Supplt oh October 1. , I

The Aushralian position remains unchanged in the neantime. though tine fcimfl ' •s rapidly approaching whe-rr the first of ' • the new season's crop will b« thrown oa , ' the market. Another three weeks should I see this taking place, and the prices real- , 1 ised then will in some measure be valuable ' . as a guide. , • - Locally the position shows no ma-ferial alteration from last week in regard to price. It was for this time that earlier in tfae season k was freely suggested merchants would begin to feel the pinch for suonlies, but the Dunedin millers, at any rate, have kept so well ahead of ' tbe market that they still have very good , supplies, and generally maintain" that they can go right through to the narveatinqr of the new crop in February. This will come as a somewhat disconcerting fact to those Rnccuilator-s who early bought freely in anticipation of a stringency at the present time, and if a line can be t&ken from the offerings being made an attempt is now being made to unload. These offers emanate from the Timaru and North Can- 1 terbury districts — tbe country from Oamaru I to the Bluff being practically banre and show the existence of fairly h-eavv stocks. • I Lines so big as 3000. 5000, and 9000 sacks j have been mentioned as being held in store, and in view of the fact that millers are well supplied it will be eeen that a difficulty awaits holders in easing at price* satisfactory to themselves. The position of the market at the close of the week was that odd lines were beir"g offered 1 from northern oantr^s at from 4s 2jd I to 4« 3d. f.0.b., for Tuscan and Hunter's, and 4s W for velvet, with no peirticular damarxl from either" the North Island or, ; locally. It is rumourwl that some portion ! of the stocks held will nob go f.a.q., the I wheat beiirg; light in the grain. ! Tho association^ tariff for flour is : — ' ■ , Sacks. £10 15s; IOOs, £11; 50's. £11 10s: • i 25' a, £11 15s. The shipping price is £10 ' 10s f.0.b., and bhe Invercargill price is £11. 1 Polkrd. £4 per ton, both f.o.b. and < locally ; bran, £3 5s locally, and £3 per , ' ton f.o.b. I Oatmeal stands at £10 10s per ton and pearl barley at £H 10s. j So fax as th» oats market is concerned < some business nas passed during the week, I and as a result the la-te firmness is fully 1 maintained. Indeed, in soeoial lines it has been slightly enhanced. "The demand from London continues good,, and were offerings coming forward freely ,and freight* obtain- , able cood business might be done. Thesa c conditions, however, do not prevail, as, j it being at the end of the season, holdings < are smajl. ard direct freight is monopolized t by bookings for^wool. Whet freight is 1 offering is for the West of England ports, t and fair totals have gone forward for 1 there in the Drayton Grange. Actual a business transacted during the week has f been on the basis of from Is lid to U t Hid f.0.b..5.i. for A grade sparrowbills. r with la 10£ dto Is lOJd for B grade. For r A^ grade Gartonn, for which a special j market. ( always obtains, the 2s ftps been paid, B's, of course, being the usual penny less. ' , The chaff market continues to show some firmness, especially for prime quality. For medium and inferior, of course, there is muoh less demand. Prices show no fc actual appreciation on tne week's busirress. A marked rise has, however, manifested it&clf in rogard to potatoes. The season ie now getting well advanced and the time for t.he new yield is rabidly aporoaching. As a matbar of faot. early Sydney shin- c ment3 have been arriving dunii;g the week. k " For extra prime Derwents up to £4 5s f has been realised. A slight scarcity has I become apparent in straw, and prioes tor both wheat and oaten straw have advanced somewhat. As with potatoes, the ntw sea- P son's supply in onions is coining forward a from Australia, and the first shipment i« a expected early next week. Eggs and butter 2 ' •■ rmue in full supply and maintain their / position at 'ate figures. Prices rule dS follow :—: — | Chaff. — Prime oaton sheaf {white oat«K [ from £2 15s to £2 17s 6d ; black oats. ' £2 17s 6d to £3: medium. £2 7s 6d to , 1 £2 12s 6J : inferior and discoloured, £2 j per ton and upwarj.s Potatoes. — Prime freshly unpitted Up-to- j. Dates, £3 15s to £4: prime Derwenta, .+J4 v 1o £4 ss; medium white or Derwents, £3 5s to £3 10s per ton (sicks in) c j Butter. — Prices are: Dairy iiats 6d ; milWl 7d to 7id ; separator pats, 7d to "id ; t bulk, 9d per lb ; Taieri and Peninsula pats, lljd (i<l rebate for ca^h) ; Taieri and * Peninsula bulk. lljd. ■ ? Cheese.— Local lots, 6d to 6]-d per lb. Straw.— Oaten. £1 10s to £1 15 a per ;. ton ; wheaten, £1 15s r>er ton (pressed, ex :' truck). , l . Clover hay, £2 10s per ton. I Onions.— Melbourne. £11 10s per ton ; U Californian. 15a \o 163 per case. j Eggs.— Fresh, lid per do7>en. S Bacon.— Rolls, 8W ; flitches, 7d ; hams, ", B^d ; bacon nigs. 4d ; porkers. 4jd. V Poultry.— Hens, 4s to 4s 6d per pair; I roosters, 3s 6d to 4s ; ducks, 3s to 3s od : best, 4s 6d; turkeys— hens sd, gobblers Btl n , per lb. c FRUIT REPORT ti Tr fome lines the market has been sh ir;. a but the arrival of tl*e Warrimoo and Wai- is kare on Sunday should neplenish stocks. P The first of the season's strawberries ar- w rivod to-day, and were cold at la 7d per si lb. These cairve from thxs Roxburgh and t J Alexandra distriois. Early cherries were n ako forward, and brought from 5d to Is o 2d per lb. The arrivals during the week were: The si Moaaa, from Sydney, with 700 oasea of 0

oranges, pines, raar.Ua.rios, melons, and { passions ; the Victoria, from Auckland, with 30" boxes of cucumbers and tomatoes and 16 cases of potatoes; the Ulimaroa, from . Melbourne, with 120 cases of oranges and 40 cases of cherries, and from Hobart 240 r cases of apples; the Tarawera, from Auckland, with 300 cases of bananas, 40 oases of pines, 70 boxes of tomatoes and cucumbers. The Warrimoo, due on Sunday, brings another shipment of Sydney fruit; The Waikare, also due on Sunday, brings the Fiji shipment of bananas and pities and American applet, etc., out of the Hau : roto. from Papeete". Prioes rule as follows: — Oranges. — Sydney: Choice 9s to 11s, others 73 to £* id ; South Australian, 11s to 12s. Mandarins. — Sydney shipment "arrived in bad order, and brought from Is 9d to 8s per case. Lemons. — Sydneys, 8s to 10s. Bananas. — Shipment due on Sunday. Pines.— Choice Queensland (rough), 11s to 14s; Queens, 8s 6d to 12s. Apples. — Hobarfc Stufmers. 12a to 13s 6d; French Crabs, lls to 12s 6d. Vegetables. — Cabbages, from Is 6d to 3s r/?r dozen for choice, other* Is 6d to 3a , per sack ; cauliflowers — extra choice, 8s to 12s per dozen; ohoice. 4s to 6s ncr sack; others, 2s to 4s; rhubarb — choice local, 6s to 7s per cwt; Canterbury, 5s per cwt; lettuoe. from 8d to Is 8d per dozen r cucumbers 9s to 10s per cftse, local 8s 6d per dozem ; asparagus, from 4s to 7s per dozen; tomatoes — Auokland, from 8d to Is per lb. Christchurch lOd to Is 6d per lb; green peas, from 4d to s£d per lb; gooseberries, 3d to 4Jd per lb. New Potatoes. — Peninsula grown, 2d to 3d per" lb; Sydney, 2d per lb. Passion Fruit.-r-Good inquiry. Halfgins. 6s to 7s; packers, 7s 6d to 9s. Honey.— Choice. 4Jd to 42d per lb: 101b tins, ■3s 6d to 4s; choice sections, 6s to 7s per dozen ; medium, 3s to 4g 6d per dozen. Peanuts.— Java, 2d ; Japanese. 2id to 3d. Preserved ginger. 7£d per lb. Walnut6.— Good demand. Prime quality^ sid to 6d. Barcelona nuts, sjd to 6£d. Brazil nuts, 7^d to 84 d per !b. Strawberries. — Roxburgh »nd Alexandra ' early lots brought Is 7d pei- lb. 'Cherries. — New season's sold at from 5d • to Is 2d per lb, according to quality. IMPORT MARKET. Stop's of new season's fruit are now ivailable locally, and on tbe whole the samples are of goad quality. Currants are ( at.her disappoint.inj, as, indeed, was fore•asted some time ago owing to weather ! .roubles in the growing diftricta. Some ' inea are very poor and not nearly up to J .he standard The sultanas are splendid,'- a , ittle dark, but very regular and fleshy, and , iltogethar a nice fuli fruit. The figs prove ( o be of fine quality. Muscatels and al- , ponds are expected to arrive very shortly. , barton dates, which are short on the local . narket, are also looked for to arrive almost | mmediately. The prices of the lines vary ; >ut little from previous seasons. J Full stocks of new season's salmon were | lue to arrive to-day ] Crosse and Blackwell's anchovy paste hao ( xperienced a decided firming in the Lonion market, and local prices have advanced 0 15s per dozen for large pots. In the hardware market linseed has again dvanced, and now stands at 3s 5d for aw and 3s 6d for boiled lots. Fencing wire and G.C\ iron are again noving upward in the world's marketo. Several rises have taken place lateJy. In the hardware 'ines business has been < airly good, a considerable quantity of i encing material having been disposed of. t A* rrgards the general import market, the < iosit»on is best described as quiet, as, c part from the movement incidental to the rrival of the new season's fruits, only ' rdinary business has been transacted * I his. considenner the nearness of the j Ihnstmis demand. 13 a little remarkable. '

American and English European. Canadian. Total. Average Qrs. Qrs. Qrs. Price. 1909 .. 6,000,000 4,750,000 10.750,000 32s 9d 1908 .. 6,985,000 6,750,000 13,735,000 31s 6d 1907 .. 7,660,000 7,750,000 16,190,000 25s 9d 1906 .. 8,690,000 7.500,000 16,190,000 25s 3d 1905 .. 8.200,000 4,050,000 12,255,000 26a 9d 1904 .. 9,045.00 4,175,000 13,215,000 29s lOd 1903 .". 7,975,000 4,530,000 12,505,000 27s 0d 1902 .. 6,890,000 6,120.000 13,010,000 26s 6d 1901 .. 8.475,000 7.500,000 15.976,000 25s lOd 1900 .. 8,280,000 10,800,000 19,080,000 26s 9d 1899 .. 7.675.000 8,603,000 16,576,000 25s 6d 1898 .. 4,800,000 3,440,000 -6,240,000 25s 9d 1897 .. 5.865.000 4,720.000 10,595,000 33s lid 1896 .. 6,130,000 8,700.000 14.830.000 25s 2d 1895 .. 9,921,000 8,100,000 18,021,000 23s 6d 1834 .. 9,062,000 12,650,000 21,712,000 18s 2d