THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 3003, 4 October 1911, Page 23

THE BREADSTUFFS AND PRODUCE MARKETS.

Friday evening. In the absence of any cable advices from London during the weak as to the trend of wheat prices the?e, one has to fall back on the quotations ruling in Sydney, which can be relied on to correctly reflect tho position in Mark Lane. Taking these quotations as a guide, it will be seen that Sydney prices have advanced during the week from 3s 6d-3s 6£d to 3s T^d —an increase of Id. In Melbourne, strange to relate, values have remained unaltered during the week, and it is hard to account for this anomaly. It may be taken for granted, however, that while the present European political situation is of such an unsettled nature the wheat markets at Home will be particularly tender, and very responsive to the varying phases of th® negotiations. Light is also thrown on the discrepancy by the excerpt from the Syo ney Mail reprinted below The total quantity of wheat and: flour afloat for the United Kingdom and Europe is 3,975,000 quarters—a decrease of 210.000 quarters on the week. Russia (100,000 quarters) shows a falling off compared with the previous week of 213.000 quarters, but the Danubian provinces (375,000 quarters) are still exporting heavily. The Argentine (19,000 quarters) also shows a big falling off on the week’s exports. News by the mail has been rather discounted by cable advices received last week. Thus, where there was anxiety regarding the crops in Russia and the 'prespeots in Argentina four weeks ago, it is now’ stated that the later are excellent, and that Russia will have a surplus of nearly 14,000,000 quarters, which is a little more than half 'the surplus of last year. But a great deal of last year’s surplus and some of the previous year’s surplus still remain in the country, so that it would, not occasion any surprise were tho shipments from Russia on a scale approaching those of last year. The strike in England, which had just concluded when the mail left, brought forcibly before the minds of the British the smalt stocks of grain carried in the United Kingdom. Everyone at once pointed out that the results in time of war would utterly eclipse the comparatively slight inconvenience caused by a few days’ strike. Instead of small and gradual advances in the prices" of food and other daily necessities, values might under certain conditions of warfare with a strong maritime Power bo trebled or quadrupled m the course of two or three' weeks. The Sydney Mail of September 18 says: “ Wheat is 3d easier on the week, as far as shippers are concerned, and buyers of parcels are Id down. The first tall occurred on Thursday, when the price was reduced from 3s 7id ex trucks Sydney to 3s and a further reduction was made on Monday to 3s s£d. Parcels, however, are worth 5s 7d, according to buyers’ ideas, and sellers will sell new Wheat for JanuaryFebruary delivery at 3s 7id ex trucks Sydney. The latter, however, is an option price, the buyer, having the right to cancel the contract on paying a halfpenny ' a bushel. Prices have fallen primarily because prices in the English and Continental markets have fallen-, the decrease in values on the other side of tho world amounting to Is 6d per quarter of 4801 b in a week. Cargoes which wore selling at 37s 6d eight days ago are now obtainable at 365, with no buyers Tho cause ot this decline is large offerings from iiussua. excellent prospects of the Argentina cropand the easier situation m, international affairs. As to stocks of wheat in this State, there still scorn considerable reserves which are not included among the visible supplies in the stocks at the railway stations Exports of wheat and flour from the Commonwealth from December 1 to September 9 amounted to 5L411.733 bushels, compared with 44,4i1,740 bushels in the same period of last season. Details of this season’s exports to September y aie ‘ Total in equiv. Wheat. Flour. of wheat. Bushels. Sacks. Bushels. ■M s W . . 10.281,217 , 297,793 11,770,182 Victoria 16,563,386 590,628 19,516,516 South Australia 16,031,928 339,930 17,731,578 West Australia 2,274,806 23,730 -,393/156 45,151,337 1,252,073 51,411,732 The price of Sydney flour remains on the same high scale of £8 15s per ton. Each time wheat has advanced beyond 3s fid per bushel the millers have clapped another 5s on the selling price of flour. Tho millers on Friday also advanced the price of bran

and pollard by 5s a ton. Both bran and pollard are now selling at five guineas. The heavy demand from Queensland, where offals bring £6 10s a ton, is the cause of tho advance locally. The Melbourne market (September 23) has shown an easier tendency in sympathy with London. A moderate business has been done at gradually declining prices, and the market closes at about 3s 7d, sellers asking 3s 7£d. The demand has been partly for shipment, while millers are operating only to a moderate extent. Supplies offering from the country are not very heavy at present, but stocks are large, and, as prospects for the new crop continue- favourable> it is to be expected that steady supplies will be forthcoming between now and the end of the season. Quotations for small farmers' lots in the country are on the basis of about 3s 6d. The wheat market has been very quiet all the week, though one miller secured some 1100 sacks of Tuscan and velvet ear. with a small quantity of velvet included, at 3s lOd ex store, Duncdin. A few other sales have taken place, on a basis of 3s 9£d to 3s lOd for Tuscan and velvet ear, and up to 4s for velvet, ex store. Millers, however, do not appear at all anxious to buy, as they are carrying pretty heavy stocks, and arc only operating when the prices suit. The,tariff of the Flour Millers' Aseooia tion for flour and other lines is- as follows: Four: Sacks. £9 ss; 1001 b bagsfig 10s; 501 b bagfi, £9 15s; 25ib bags, £10; Oatmeal, £l3 10s per ton. Pearl barley. £l4 per ton/ Bran, £4 15s per ton. Pollard. £5 10s. There is nothing fresh to record as to the oats market, and prices remain unchanged. The demand is still greater than the supply. A fair amount of ousiness has taken place during the-week, and there is a email inquiry from ;tho North Island. There is no forward selling taking place, the business done being all of a hand-to-mouth description. Several of the local merchants, are now practically out of the market,, haying disposed of the major paTt ox their stocks arid are left with but a few hundred sacks which they are holding on to as a kind of "standby. Farmers in the Tapanui district who have any oats left are now asking 3e on trucks for them. The ruling quotations are: A Gartens, 3s Oafd to 3s Id; B Gartens, 3s to 3s Oid. The. Melbourne oats market (September 23) has continued to -show firmness, owing to the demand from New Zealand, business for shipment being quoted at 2s 4id f.o.b. for Algerian milling, 2s 3d to 2s 3id f.o.b. for No. 1 shipping feed, and 2s 2id f.o.b. for No. 2 Oversea exports from Melbourne last week included 225 sacks to New Zealand. PRODUCE REPORT. Chaff has firmed during the week, and values have increased. There is good local demand, and a fair quantity is finding its. wav to the Nwbh Island. All prime. samples are readily disposed of. but medium lots have only fair inquiry. Potatoes are a drug on the market, and prices ' have further weakened. Consignments still continue to arrive freely, and it is with difficulty that sales are effected. There is no demand from the North Island. A fair quantity of hay was disposed of during the week, mostly to dairy-fanners, at prices equal to £4, ex truck, Dunedih. There is a good demand for prime Melbourne onions. The Australasian reports as follows under date September 23 : " Trade -in onions has been only of small dimensions. Arrivals and stocks are full, and .the demand quiet. New Zealand buyers have been endeavouring to resell their purchases, owing to about 1500 cases of American onions landing in New v Zealand ex Aorangi. Good to prime samples are 'quoted at 55s to 60s. medium at. 30s to 455, with inferior practically unsaleable Exports last week consisted of 693 sacks to New Zealand.'" Heavy supplies of eggs are now coming forward, but no difficulty is experienced in quitting consignments at the prices which have been ruling, during the past three or four weeks. The butter market is bare of farmers' lots, and consignments are wanted. There is a brisk sale for all consignments of pigs. Current'prices are as follow: tUhaff. —Prime heavy oaten sheaf, £4 10s; choice oat, £4 12s 6d; medium to good, £3 15s to £4 ss; inferior, £3 and upwards, i Straw.—Oaten, £2 5s to £2. 7s 6d; wheatcn, £1 7s 6d to £1 10s per ton. Hay (nominally), £4 5s per ton. Potatoes. —Prime quality, £2 7s td to £2 10s per ton; medium to good, £2 to £2 ss; inferior potatoes, £1 10s. Onions. —Melbourne, £6 5s to £6 10s per ton for prime. Eggs.—Fresh, 10d. per dozen; stamped, lOid. Butter. —Dairy, lid per lb; milled, 10£d to per lb; separator, in lib pats, il-Jd to Is. Pigs.—Baconers, 4gd per lb; porkers, sd. Bacon. —Rolls (in quantities), 7Ad; bone less hams, 8d; sides, 6d; hams under 201 b, 8d to 9d per lb. FRUIT REPORT. A shipment of citrous Jfruit arrived from Sydney on Monday, and came to Land in very much better condition than the previous consignment. Pair prices were realised for the fruit. On Thursday 700 cases of Rarotongan oranges were landed in Diinedin, .irriving in very poor condition. Repacks wore'sola at 12s to 12s 6d per case. The market is quito bare of Tasmanian apples. Seventeen shillings a case is being asked for the Californian shiiament which was landed a few days back, but the demand for these, owing to the high price, is not very keen. A further consignment of Hobart apples is due to arrive on Tuesday. Vegetables are still in short supply, and cauliflowers especially have improved in price—fully Is 6d 'to 2s 6d per case. Small quantities' of asparagus are now commencing to come in. *--' - A very small parcel of new r otatoe3, grown on the Peninsula, came to hand today, and realised lOd per lb. A few green peas —but not a sufficient quantity to sell, however —likewise grown on the Peninsula, wero also brought in, in order to show the earliness of growth this year of this vegetable. Judging by this growth, a fair quantity of peas should be forward from the Peninsula within the next few weeks. The following are the current prices: Oranges.—Market is fairly supplied. Rarotongan repacks, 12s 6d; Sydney, 8s to 10s; South Australian, 10s to lis; Navels, 12s to 13s 6d. Passion fruit, In quarter cases. —Very few offering, nominally 10s to 12s per half gis.

Lemons. —Mildura, 8s to 9s 6d; Adelaide, 9s to 10s. Apples.—Market quito bare. F-.C, 9s to 10s 6d; S.T.P., 10s 3d to lis 6d; S.P.M., 12s to 13s 6d; S.P.. 9s 9d to lis . Locallygrown and Christchurch cooking, 8s 6d to 9s 6d per case. Pines.—Scarce. Roughs from 10s to 12s; Queens, 325. Mandarins.—Gins in good order Jls to 13s 9d; in bad condition, 7s to 8s 6d per gin. Bananas.—Ripe, 2£d to 2£d. ' Marmalade Oranges.—Scvilles, os od to 6s 6d; Poorman, 7s. Asparagus, Is to Is 6£d per bunch. New Potatoes, lOd. Vegetables are in short supply. Cabbages, from 3s 6d to 6s 6d per dozen;, inferior, Is to 2s 6d. Very few offering. Lettuce, 4d to Is 4d per dozen. Cauliflower, choice, 7s 6d to 12s 6d per sack; medium, 3s 6d to 6s 6d; small, Is fd to 2s 6d. Celery, 4d to 8d per bunch of six sticks—scarce. Carrots, 3s to 3s Jd per sack. Parsnips, 3s to 3s 6d. Artichokes, Is 3d to 2s per box. Beetroot, bd to 8d per dozen. Rhubarb, new season's is selling at from 3d per lb. ~ IMPORT MARKET. A notice appearing in the Gazette bearing on the carriage of goods over the Government railways is of interest to merchants and count* y storekeepers. The notice states that every person consigning goods for carriage upon a railway on behalf of two or more persons or firms shall make a separate consignment note in respect of the goods of each of thOse persons or firms, and shall disclose on every consignment note the person or firm on whose behalf he so consigns the said goods. Merchants have hitherto followed the practice- of combining in despatching goods to the same consignee in the country, and, in accordance with the above regulation, this practice will now be discontinued. Local merchants are now engaged in their half-yearly stocktaking. A good deal of business with country firms is passing. The new season's canned fruits are now to hand. / Desiccated coooanut is very firm, as is the case with all Eastern goods. Pineapple in 21b whole lots is unprocurable. The price of l£lb cubes is 6s 3d. These lines are at present not being offered by Eastern merchants. As predicted some time ago, there is a complete famine in respect of the different kinds of dried fruits. Prices were high last year, and for that reason .merchants imported very sparingly. lir consequence, sultanas in particular are at present practically unprocurable, while currants are very firm ait Sjjfd for cleaned. Prunes and evaporated peaches afe also unprocurable. The same remark applies to Thompson's seedless raisin- ■ ■ The market is. practically bare of bulk dates, and the price has advanced to 2£d. A shipment of tapioca and sago has arrived from Singapore, ex Darius. Christchurch bacon has advanced to the extend of £d per lb. Rolls are now quoted at 9d and sides at Bid. An appreciable advance is recorded in the price of sheet lead. The local market -has not yet responded to the advance; but will probably, do so at an early date. The London advance is approximately £2 .per ton. Advices from Calcutta state that the final forecast of the jute crop is 8,235,000 bales. This is only slightly over last year's estimate, and as a result of the above estimate the market has firmed. The market in respect of castor oil is very firm, and .prices have advanced to the extent of 3d per gallon. Local quotations are: Half-oasas 3s 6d; drums, 3s Bd. White lead has advanced, and the price ramges from 28s 6d to 30s, according to quality. The s.s. Walkure, from New York, is due to arrive at this port on or. about the 15th inst. with a cargo of case oil. Merchants are booking White Rose kerosene to arrive in 25 case lots, and over, at 10id, net cash.