THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 3035, 15 May 1912, Page 21

THE BREADSTUFFS AND PRODUCE MARKETS.

b'riday evening.

The cause of the strong wheat market which has ruled at Home for some weeks past has now become apparent, the shortI age in France, as was suggested in our , report of last week, being tne chief factor. Adverse reports, however, are also being received of the winter rrop in the United States. The French crops have this year fallen far below the average —so much so that large orders have been placed in Canada, the Argentine, and Australia. Judging by the exports this week from Russia, the difficulty of navigating the Dardanelles as a result of the laying of mines by the Turks would not appear so great as was expected, but, on the other hand, the exports from the Danubian provinces show a big falling off. The Sydney wheat market continues very firm, prices ruling from 4« 5d to 4s sid. These values are above London j parity, and they m.iy therefore be the re-j-sult of a purely local demand. The sale of Australian cargoes has been on a large scale this season, and probably shippers there are now finding a difficulty in filling forward ordera, and are thus being forced to pay high prices. In Adelaide, it will be noticed that the quotation this week is much below that at Sydney—namely, 3s Hid to 4s. During the week four Australian cargoes have been sold—one at 40s 3d, two at 39s 7£d, and one at 39s 6d. The total quantity of wheat and Hour afloat for the United Kingdom and the Continent is 7,255,000 quarters, as compared with 7,110,000 quarters the previous week. The shipments to Europe totalled 1,420,000 quartern, being a decrease of 20,000 quarters as compared with the 'previous week. A comparison of the exports for the last two weeks is given, as follows:

t Including Persia * Wheat only. The grand total shipped to Europe since August 1, 1911, to May 4 is now 44,060.000 quartern, against 56,610,000 quarters for the corresponding r.eriod of the 1910-11 season, and 50,035,000 quarters, for the corresponding period in 1909-10. The American visible wheat supply is 86,282,000 bushels, as against 100,535,000 bushels on May 1. The following table shows the gross imports of wheat and flour, the latter converted into wheat (on the basis of 72 per cent.) into the United Kingdom for 29 weeks ending March 23, 1912, compared with the corresponding period of the two previous years, and the estimated total sales of English wheat in the same period, to which is added the statistical information (in quarters of 4801 b). The " 000 " are omitted: — oi r-i o

Average price English wheat 34/1 30/2 32/9 The Sydney Mail of May 1 says:—"The looal wheat market* are inactive owing to the continued dry weather in the country Shippers have practically withdrawn, as millers, speculators and others are absorb- , ing all the grain offering at 4s 2d to 4s 3d

per bushel on trucks at Darling Island. The weekly report furnished by the Rail way Commissioner states there are 658.752 bag-* stacked at country stations, as against 2,583,372 bags at the corresponding period iast season. Since the commencement of December there have been 4,600,446 bags trucked to Sydney. The overseas shipments from the Commonwealth of both ■wheat and flour this season are equivalent to 25,632,235 bushels. Of the total NewSouth Wales contributed 8.688,081 bushels Victoria 7,565,966 bushels. South Australia 8.758,177 bushels, and Western Australia 320,011 bushels." Wheat.—The Melbourne market has continue*! to show firmness, partly in sympathy with markets abroad, and partly owing to the small supplies offering. As appears from the railway returns the quantity cart'»d to the country stations for somo weeks past has been trifling, white the dry weather has not encouraged farmers to resume selling from stocks alread}' brought in. Exports from Victoria have so far been much smaller than for the corresponding period last season, but, with a considerably reduced crop, the stocks now "held leave a smaller margin over local requirements" than in recent years at this period. There has been a moderate inquiry, and the market closes steady at 4s 4d for ordinary lots, while good-sized parcels are quoted at 43 4*d. - There is not much fresh to record so far as the local wheat market is concerned. The position may be summed up a? quiet but firm. Any sales that have taken_ nls.ee have been on trucks in the vicinity of Oamaru or Waimate, where vory good milling quality can bo obtained for less than 3s 9jd, on trucks, and this for mixed lines. This price would work out at 4s o£d landed in f hired in. The quality of the southern samples is not improving as the season advances. Very few of the parcels offering are of sufficiently good quality to induce millers to operate, they preferring to give the difference in price and secure the drier samples offeving from the north. Fowl wheat is wanted by shippers, but offerings, despite the large quantities of damaged cereal threshed this season, are scarce, and prices are firm at 3s 5d to 3s 6d for best, ex store, sacks extra. The tariff of the Flourmillers' Association for flour and other lines is as follows: Flour-Sacks. £8 15c,; 1001 b bags, £9; sClb bags, £9 ss; 251 b bags, £9 10s. Bran, BH 15s per ton. Pollard, £6. Oatmeal, £l3 10s: pearl barley, £lB 10s. The prices for oats are at the present time very irregular. It is reported that one or two local merchants have oversold to Australia, delivery this month, and, as farmers are firm holders, values which the market hardly warrants, are being paid to enable the speculators to fulfil these forward orders. The Australian inquiry during the last day or,two has not been so active as it was last week, the rains which have just fallen throughout New South Wales having caused the demand to ease slightly. Advice from Australia, however, states that matters from a fodder point of view are very critical, and that feed stuffs are scarcer than they have been for many years. The letter also contains the opinion that even if rains become general over Victoria and New South Wales supplies of produce will nevertheless have to *be imported from here. Very large quantities of oats have been, and are now being, shipped to the other side in fulfilment of forward business at prices ranging up to 2s s£d to 2s 6d (f.0.b., sacks in) for A Gartens; B Gartons, 2s 5d to 2s s£d. There is a good' inquiry from the north, but merchants are letting this business stand in the meantime, better quotations being obtainable from tho Common wealth. A gentleman who has just returned from a visit to the south says that the recent wet weather has delayed threshing, and that there is still a large quantity of oats in the stook. Tho shortage of sacks is also delaying the farmer from getting his crops on to the market. It is considered, however, that though a good deal of the cereal will be damaged, there will ultimately bo a big quantity of oats coming on the market.. > Millers have been operating during the week, securing A Gartons in the vicinity of Gore at 2s lid. B Gartons, in the same district, are worth about 2s Id. As stated above, however, values are irregular, and in some instances higher prices than those stated have been paid by merchants, while, on the other hand, one or two have secured lines at a lower price. It is, in fact, impossible at tne present time to accurately gauge tho market. I The Australasian of May 4 says:—"The strength of the New Zealand oat position has imparted a firmer tone to the local market. Algerians are only moderately represented on the market, and consumers are now being reconciled to the use of the various classes of imported oats. At the close of last week active buying of New Zealand oats took place, the aggregate including 12,000 bags spread delivery. Only the higher prices asked on the other side havo prevented further liberal bookings. For spread shipment quotations for A Gartons are now 2s 6d to 2s 6*d, f.0.b., New Zealand, B grade being available at Id less. Sales of B Gartons. ex-wharf, have been made at 3s 3£d to 3s 4d, duty paid. Algerians are quoted at 3s 4d to 3s 5d for feed, and 5s 8d to 3s lOd for seed lots, with ohoioe heavy at up to 4s. The Eurvalus, for Java, etc., has taken approximately 1000 bags oats to the East." PRODUCE REPORT. There is a good inquiry for chaffi from both the North Island and Australia. Dry weather is being experienced on the other side, and a keen demand exists there for all fodder lines. In neither place, however, will merchants pay the prices asked locally for chaff, and as a consequence not much business is passing. Consignments of prime find a ready' sale 'to local merchants, but anything bolow this quality is hard to dispose of._ At the time of writing the potato market is a little wealcer, and farmers'are now more inclined to offer. Several hundred sacks have been disposed of during the week at prices ranging up to £6 ss, delivery May and June. To-day values have gone back a little, and it would be hard, to secure £6 on trucks Dunedin. The Commonwealth restrictions against New Zealand potatoes are being severely imposed, and one line at least has been condemned there. Some merchants, therefore, are not anxious to do business with Australia so far as potatoes are concerned. Farmers also are showing a disinclination to sign the declaration, stating that to their knowledge their farms have been free of disease for the previous 12 months; but why they should take up this attitude is hard to understand, as they are not held responsible In any way once their crops are disposed of. Supplies of straw are somewhat short at

present, and all lots coming forward meet with a ready demand. Consignments of onions are now coming forward freely, but, with a good outside demand, prices are well maintained. Eggs are in very short supply, and prices have gone up with a bound. Dairy butter continues in short supply. A brisk inquiry continues for pigs, and the demand is greater than the supply. Current prices aro as follow: Chaff. —Prime heavy oaten sheaf, £3 10s to £3 15s; medium to good, £2 15s to £3; inferior, £l 10s and upwards; new chaff, £3. Straw.—Oaten, £1 15s to £2; wheaten, £1 15s to £1 17 6 6d. Hay, £3 10a per ton. Potatoes.—Prime Oamaru, freshly dug, £5 15s to £5 17s 6d per ton; medium to good, £5 to £5 5s (bags in). Onions-—Canterbury. £lO 10s per ton. Eggs.—Fresh. Is 9d to Is lOd per dozen; stamped. Is lid to 2s. Butter.—Dairy, lid per lb; milled, lid per lb; separator, in lib pats, Hid. Pigs.—BaconerSj 6d per lb; porkers, 6d. Bacon. —Rolls (in quantities), lid; boneless hams. Is; sides, Did: hams under 201 b, Is per lb. _•' FRUIT REPORT.

About 900 cases of oranges arrived on Thursday from Rarotonga. They canie to hand in fair condition, but met rather slow "sale at 6s to 6s 9d per case. The' apple market shows no difference as regards - prices from those ruling last week. Supplies continue to arrive from Christchurch, Timaru, and the Taieri. Extra choice dessert are inquired for, and these would realise equal to 3d per lb. Good pears afe in demand, and bring 2£d per lb. Choice lots aro worth a little raoro. A few parcels of quinces are arriving on the. market, and being sold at from Id to 2d per lb. A consignment of Mildura lemons came to hand bv the Melbourne steamer on Tuesday. They met a bate market, and brought from 17s 6d to 18s 6d per case. Only small supplies of locally grown peas are coming to hand. The pods are not well filled, owing to the recent weather, and this accounts for the small prices ruling. Supplies of cauliflowers have eased somewhat, and prices to-day are firmer. Artichokes are now on the market, and are bringing from 2s to 3s 6d per bag of 361 b. ' The following are the current prices:— Lemons.—ltalian, market bare; few offering Double cases realise £2; Milduras, 17s 6d to 18s 6d. Oranges.—Rarotongan, 6s to 6s 9d. Apples.—Moderate supplies coming forward* and realising: Prime cookers, 3s 6d to. 4s 6d per case, equal to l£d for best; extra choice, dessert, 5s to 6s; Christchurch A.P.M. Cornish Aromatic. 5s 6d to 6s 6d. Locally grown dessert, lid to 2d per lb; small fruit, Id. ' Tomatoes. —Supply falling off. Christchurch—hcthouse, 4d to sd; outside, 3d to' 4d ; small, 2d to 2£d: local, 6d to lOd. Grapes.—Local hotnouse, 8d to Is; small and inferior, sid to 7d; extra choice Gros Col mar, 2s to 2s Id. Peaches —Just about finished. A very few cases coming forward, and realising 2d to 2id per lb. Pears.—Small supplies coming forward. Bcume Diehl, lid to 2d; Napoleons, Id to lid; Beume Olairgeau, lid to 2d; Winter Nelis, 2d to 2£d; other sorts, 3s to 5s per case. ... Blackberries, 6d per lb; wanted. Bananas. —Ripe, 3d to 3£d per lb; very short supply. Green Peas.—Short supply; lid to 2d per lb. . • Vegetables are more plentiful Cabbage*. 6d to Is 6d per dozen; sacks, Is 6d to 3s. Lettuce, 6d to Is per case of two - dozen. Cauliflowers, 2s 6d to 8s 6d per sack; Is 6d to 7s 6d per dozen. French Beans. —Scarce, 3id to s£d. Vegetable marrows, 7s to 8s Pie melons, 6s to 6s 6d per cwt. IMPORT MARKET.

Morton's crea:n of tartar is now quoted at Is Id per lb, the price for the French article being 10id to 10jd. The Homo market has firmed considerably. English split peas show 'an increased cost, values now ranging from 21s 6d to 22s per cwt. There has been a sharp increase at Home in the price of, linseed oil, and local values have increased Id per gallon in sympathy. Common teas —medium to fine grades—are distinctly firmer, with an upward tendency. Morton's olive oil is costing more money. The present quotation is 10s 6d per dosei pints, and 6s for half-pints. Hops in packets are selling at Is 6d per lb. Sago and tapioca—especially the former —ar« now very short in the market. Further supplies are coming to hand by the Waitemala, due at Dunedin in about 10 days' time. Tho Wait-emuta is also bringing supplies of corn sacks, which are very scarce throughout the Dominion at the present time. Advice from Sydney states that coffees continue their upward tendency in prices, and that a further strong advance has taker, place in the. world's markets. The report continues by intimating that gingers maintain the advance last indicated, especially Cochin and Japan sorts. White Jamaica has risen id per lb. Morton's advise that they are sold out

of lib flats, and that orders for fresh herrings wiH have to be filled by tails until the new season's fish is available. - Figs are in short supply. Kerosene has been advanced 0 d per gallon. The Vacuum Oil Company advises that the nest shipment of kerosene is dt» by tht Anglo-Saxon, which is timed to arrive in Dunedin towards the end of July. The quotation to-day is 10|d net cash with. orders for 25 oase lots to arrive. r White lead has advanced 10s- peir ton The ruling prices aro £33 103 to £35 10». per ton, according to quantity.

April 28. May 6. Qrs. Qrs. Argentine .. 556,000 626,000 Russia .. 220,000 270.000 Danubian Provinces . .. 190,000 55,000 Indiat .. 44,000 51,000 Australasia .. 90,000 70,000 North America* — Atlantic ports .. 191,000 248.000 Pacific ports ... . . 28,000 — Other .. 121,000 100.000 Total 1,440,000 1,420,000

o i Wheat imported Flour (aa wheat) ... English wheat 11,553 1,828 4,233 1,898 3,854 12,400 2.334 4.284 Total 17,614 18,093 19,018 Stocks in first hands 1 U.K Afloat for U K. ... j Estimated stocks in farmers' hands 1,085 3,985 2,598 1,675 4,110 2,016 1,455 4,230 2,216 Total English " visible " 7,668 7,801 7.901 Bradstreet's visible supply— tf.s Canada 7,755 6,825 5,277 2.815 4.300 2,530 Total 14,580 8,092 6.830 Afloat for Continent 1,715 3.005 2,130