THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 3030, 10 April 1912, Page 18

THE BREADSTUFFS AND PRODUCE MARKETS.

Friday evening. It will Ik; soon from tho cablegrams this ; week that 1-11/? London wheat market con- j tinues firm, despite the dislocating influences j of the coal strike, sales of Australian having taken place at the hitter end of the j week at 58s txl, and three cargoes at 38s | 9>l. II may be remarked on passing though that the majority of the cargoffi have long I ago loft Australian hands. As .has often j occurred before, the Sydney market finned i in tho middle of tho week, and then eased j at the latter end, but even on to-day's | values there the prices must be considered i very satisfactory to farmers. It should be J pointed out, in studying the cargoes of j Australian wheat recently purchased by i Homo buyers, that the business is to a largo extent speculative, and that the wheat in a number of instances will not arrive at its destination till about May, being forwarded by sailing vessels. Seeing that the quantities now arriving on the Homo market are commencing to show a considerable increase, it may bo safe to conjecture that prices should shortly assume an easier tendency. The total quantity of wheat and flour afloat for the United Kingdom and the Continent is 6,110.000 quarters, this being t.ho largest total for several months past. The following table gives a comparison of

It will bo seen from the above that thoro I is actually a decrease of imports from the foregoing exporting countries, but the | greater aggregate is made up by cargoes I well on their way to England and the Oon- ! tinent, these, of course, being included in '< the estimate \pl whieiat "afloat." The ! Atlantic shipments liave increased from j 78,000 quarters to 195.000 quarters, while those of the Pacific have fallen from 30,000 quarters to 20,000 quarters. j On Tuesday Sydeny wheat was quoted at , & Hid to 4s, and firm at that, but to-day | the value is given as 3s lid to 3s ll£d ; (last Friday the quotation was 3s 10£d to 3s I lid). Tiie Adelaide quotation is 3s lOd to 3s lid (last week it was 3s 9-U1), while Mel- ; bourne values are 3s ll£d and 4s. "Beerbohm" of . February 23 says:— " Both Plate and Indian wheats have "been ; offered freely, a proof, so far as the j latter description is concerned, that the crop outlook is a favourable one. In j the near future, with only moderate quanI titles from other countries, exports from ■ the Argentine will probably be mere than j sufficiently large to bring the weekly totals , up to the. estimated requirements. With small imports on the Continent and onlv a : moderate import into the United Kingdom I the quantity afloat, experienced the sharp I increase of 380,000 quarters, and further j augmentation must now be expected 4.11 European countries, with (he exception of j Holland, have so far imported either fully equal to or above, their estimated requirements. In the case of Germany, whose 1 ?Q?n 5 I?" . I ' ooo ' ooo , nutters larger than in 7, , ~ " n l )orte have been at an appreci- ; ably higher rate than required, and the j same remark applies to Belgium, which ; country produced 250,000 quarters more : native wheat than in 1910, and has, in addij tion, imported 145,000 quarters more The . crop of Holland was 150,000 quarters larger I than in 1910. and this increase almost makes [ up for the smaller imports. It, is true that j the quantity afloat i s now 1,250.000 quarters | smaller than last .year at thie time, but this is entirely owing to the shortage in the | Argentine shipments, caused not by a i smaller surplus, but by the late harvest : and the labour troubles, and this wheat has ! still to be shipped. As against any increase j in consumption, caused bv the shortage in j potatoes, etc., may bo placed the extra | weight, and better quality of the European j crop of 1911. compared with flic previous I year. So far as the United Kingdom is i concerned the net imports to date arc about ! 750,000 quarters less than in the previous I season, but against this decrease must be I placed the increased Home production of ; nearly 1,000.000 quarters. These remarks | are not made to show that there is any ; superabundance this year, but simply that j there is no indication of any scarcity. ! When it is remembered that the cnons of ! 1909. 1910. and 1911 exceeded the totals of | the three previous years by 135,000,000 quar- : tei-s, it is impossible to think otherwise ! than that the invisible reserves are still j fairly liberal, even after allowing for the i seasonal increase in consumption, and for j j some increase over the norma], owing to • the shortage in other crops. At the same ! time there is no getting away from the i fact that there is a great scarcity of good, strong wheats.' The present level of prices | is a fairly high one, and ought to bo at-j ; tractive enough to bring all the wheat re- j i quired, until some definite idea can be ; formed as to the prospects of the growing crops. All that can he said at present is [ that in most countries present conditions are I fully up to the average, and that in Fiance, ! Hungary, and Roumania the acreage sown ! is larger than last year. India is expecting ' ' a yield eejual to last year's large outturn, , I and will therefore probably continue to ex- j , port freely, whilst any decrease in Italy, I ; Germany, etc., may be at least partly made ' [ up by an increased yield in Fiance, where the area town is distinctly larger than last year, hussia had such a very bad crop last year that, with quite ordinary agricul- . tural conditions this year, the yield may easily be very much larger. In America the present condition of winter wheat, taken at a whole, is about up to the average." I The Sydney Mail of March 27 reports as follows:—"The wheat market is very firm owing to the competition among shippers to obtain grain to fill up freight space. Partly this state of affairs has l>ocn brought about by the slowness with which the wheat is coming down from the country. There is a largo stock of wheat, at Darling Island, | belonging to various shippers, but rattier . than deplete this stock which they consider tneir last reserve, they are prepared to pay j high prices to anybody who has grain on spot to load. In this way the price has l>een forced up to 3s lOd per bushel, for prompt delivery, and a fair number of sales ; have been made. For farmers' lots, the price is 3s 9d. ex trucks, Darling Island, the equivalent of 3fi 5d at country stations, j and for parcels, ordinary delivery, 3s 9i<l i would lx.' paid. Millers who want wheat are bidding up to 3s lOd." The Australasian of March 30 says:—l ''There has not b(M'n a great deal of business doing in the Melbourne wheat market. Farmers an.' maintaining such a tight hold over the supplies that little wheat has been offering. For parcels 3s lOd to 3s 10id i is quoted, and for farmers' lots in the ' country Zs &j<\ to 3s 9 id is quoted, more or lose nominally." j The wheat market has been very active ' all the week, one local miller having ! secured) ftome pood-sized prime lines on trucks at country sidings north of Dunodin at prices ranging from 3s 6id to 3s 7X-\ j spread delivery, which is equivalent to 3s and strong demand on the part of one or two local millers for all good-conditioned lines of wheat, but on the other hand one large . local miller at least is standing off the market altogether in the meantime.. During , the week value's rilled at about 3s 9d, f.0.b., sacks in, northern ports, for milling Tuscan andl 3s for velvet, and shippers did ! business at these figures. To-day, however, holders are asking 3s lOd, f.0.b., sacks in, | Timarn. During the last few days it, has become apparent that the amount of prime ! milling wheat in the Taieri and South- ' land districts is very much l smaller than it • has been in. previous years, a good deal of ' the early threshings of wheat that are nowbeing delivered being in a very soft condition, rejections by the millers l>eing numerous. Consequently, southern buyers will be forced on (he northern markets. In

this connection it may be interesting to note that the season's requirements by Dunedin and Southland millers alone run into something like 500,000 sacks. The result is thiat wheat in the Oama.ru districts is, if anything, more difficult to secure than, in any other part of New Zealand, the position being accentuated by the fact that buyers there sold forward some weeks ago for delivery in Auckland, and are nowbeing asked to fulfil their obligations. On Monday and Tuesday velvet wheat could 'have been secured in North Otago at 3s | 6d, but the average price to-day is 3s 7d, on trucks. Very little wheat has been offered I from the south during the week. Taieri I grown w-heat is in a bad state, and sales I have been made at about 3s 2<l, on trucks, • for poor quality; medium quality, 3s 3d I to 3s 4d ; and one or two lines in good condition, 3s 6d to 3s ojd. Prime milling lines from southern districts—these are not j many —are worth from 3s 7d up to 3s 7£d j for extra good, within Id railage from Dunedin. The flour from all the lines of new wheat which have so far been milled—- ' grown both north and south—shows, more , or less, the effect on the wheat of the wet, Idull weather experienced this summer. The tariff of the Flourmillers' Association . for flour and other lines is as follows: — Flour: Packs. £8 15s; 1001 b bags, £9; 501 b bags, £9 ss; 251 b bags, £9 10s. Bran, £1 15s per ton. Pollard, £6. , Oatmeal, £l3 10s; pearl barley, £lB 10s. i Oats are now offering more freely | throughout the whole of Otago, and right down to the Gore district. Values are in • the vicinity of Is lOd to Is lid, on trucks j at country stations, according to distance from ports, for A and B Gartons. A few j odd lines of A Gartons, however, suitable j for seed purposes, have been picked up at slightly higher money. An inquiry is still being received from Melbourne, and a few hundred sacks of B Gartons have been sold for that quarter at 2s 3jd, f.0.b.. sacks in. It is reported, however, that some local merchants refuse to accept even higher prices for both A and B Gartons for largesized lines, Bluff shipment. There is only a small inquiry from the North Island, but sales of B Gartons have been made for there from Oamaru at 2s f.o.b., sacks in, April, May, Juno delivery. In addition, sales of B's to the North Island, prompt delivery, have been made at 2s 3d, while a few odd lines have fetched 26 3id. Algerians have been disposed of this w ; eek at 3s (o 3s id, f.o.b. sacks in, for good quality. PRODUCE REPORT. j Only fair quantities of prime old chaff are coming forward, and these meet with a ready demand. New chaff is offering more i freely, and prices for this quality axe not so fii'rn. A considerable quantity of out-of-condition stuff is making its appearance on the market. The- potato market is well supplied with Oamaru-grown tubers, and values show a decline. As soon ;s digging becomes more general in the south it is anticipated that prices will show a further fall. Consignments of onions have eased during the week, and with a ready demand and a hardening of values in Canterbury prices are firmer. Sales of eggs have been more difficult to effect owing to the fact that buyers filled their orders earlier in the week. Prices, however, are keeping up. The dairy butter' market continues very firm. Current prices are a 3 follow: Chaff.—Prime heavy oaten sheaf. £4 to £4 10s; medium to good, £2 10s to £3 15s; inferior, 30s and upwards; now chuff, £4 to £4 2s 6d. Straw. Oaten, £1 10s to £1 15s; wheaten, £1 15s to £1 17s 6d. Hay.—£3 10s per ton. Potatoes. —Prime Oamaru, freshly dug, £3 15s to £4 per ton; medium to good, £3 bo £3 10s (bags in). Onions. —Canterbury, £7 to £8 per ton. Eggs.—'Fresh, Is 8d to Is 9d per dozen; stamped, Is 9d Butter.—Dairy, lOd per lb; milled, lid per lb; separator, in lib pats, to lid. Pigs.—Baconers, 6d per lb; porkers 6d. FRUIT REPORT. As a result of the holiday season a heavy rush of fruit, arrived on the market last week. A great deal of the consignments, however, were of poor class—this more especially applying to apples. The consignments of peaches exceeded the demand. There were not many ripecoloured parcels to hand, and this fact, of course, affected the sale and the prices. Only small lots of apricots are now arriving. These are of rather poor quality, as is only natural considering the lateness of the season. A heavy stock of quinces came to hand from Gisborne, and realised Id per lb. The sample of fruit was a good one, but it was rather roughly packed. Plums are just about finished. Prices aro somewhat irregular, values for prime to choice lots ranging from 2d upwards. Tho supply of tomatoes has increased considerably, and values have receded. Tomato sauce manufacturers are now commencing to operate on tho market. Only a few lots of pickling onions aro coming forward. The prices realised are 2d per lb. Tho shipment of Adelaide grapes by the Melbourne boat last week arrived in indifferent condition, and brought from 4d to 4|d per lb. Good ripe pears are off the market at present, most of the lines arriving comprising hard, green fruit. These, latter pears have either to bo sold cheap or els© 1)0 hold by the agent. A good inquiry exists for swede turnips, carrots, and parsnips, but cauliflowers aro in over supply, a very large quantity having been placed on tho market. The following are the current prices:— Plums.—Jam sorts, Id to ljd; dessert, 2d to 3d; extra choice, 3d to 3id, in short supply. Lemons.—ltalian, 16s 6d to 17s 6d per half box, market bare Apples.—Good supplies coming forward, and realising: Prime cookers, 2s 6d to 4s 6d per case; dessert, 5s to 6s; Christchurch Cox's Orange Pippin and Ribaton, to 3d per lb, or equal to 7s 6d to 10s i>er case. Locally grown. l|d per lb. Tomatoes.—ln pood supply. Nelson, 3s to 5s per ease; Christchurch—hothouse, 3d to 5d ; outside, to 3id; local, 6d to 7<L Nectarines. 3d to 4d per lb, wanted. Grapes.—Adelaide, 4d to 5d per lb; local hothouse, 7|d to BJd. Apricots.—Nearly finished, a f n w casen

como forward and sell at l£d to 2kd per lb. Peaches.—Half oases, l£d to 2d; choice, in trays, from 2Jd to 3d; extra, 4d; small jam, i£d to lid. Pears. —Supplies getting shorter Bon Chretiens, 2s 6d to 5s per case; choice sorts, 2d to 2|d per lb; cookers, l£d. Cucumbers.— Local. 3s 6d to 5s ner dozen. Potatoes.—Prime Oamaru, to £4 10s i>er ton for small lots. Peninsula and Chinese grown, 2s to 3s per box of 501 b. Green peas.—Short supply. Choice, lid to 2d per lb. Vegetables aro more plentiful Cabbages, Is to Is 6d per dozen; sacks, 2s to 3s 6d. Lettuce, Is to Is 6d per case of two dozen. Cauliflowers, 5 3 to 6s per sack, Is 6d to 6s per dozen.

tne exports from the different countries for uiio past two weeks C" i&trcli 26. April 1. Qrs. Qrs. Argentine , . 492.000 354,000 Russia .. 95,000 135,000 Danubian Provinces. .. 170.000 193,000 India 70.000 47,000 Australasia ... . .. 155.000 125.000 Totals . 982,000 854,000