THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 3293, 25 April 1917, Page 14

THE BREADSTUFFS AND PRODUCE MARKETS.

Friday evening. The chief new factors in the oversea wheat markets have been the unsatisfactory crop news from the United States and the determination of the Argentine Government to prohibit exports owing to the failure of •the crop there. There would appear to be moro in the latter statement than_ meets the eye at first glance, as the indications are that the United States will prohibit the export of coal to Argentina unless the embargo is removed. Leading American speculators have agreed not to gamble in wheat during the war, so as to enable the prices to be regulated by the normal consuming demands. The condition of tho United States wheat crop must have undergone a material depreciation during the winter, if any reliance at all is to be placed on the official report that the yield will bo 50 million bushels less than last year. This reduction would mean a crop of about 400 million bushels, as small if not smaller than any since 1903-4, excluding perhaps the lean year 1911-12, when 399 millions were gathered. Tho New York correspondent of the Australasion cables that the prices of wheat in Chicago on April 7 touched 214* cents, equivalent to £s ll£d per bushel, presumably for May delivery. This figure establishes a new record. The advance has been rapid, being 17g cents on the week, and 30 cents (Is 3d per bushel) during the last three weeks. . .

The British wheat commission is selling good quantities of Australian wheat on passage to Ireland at 84s per 4801 b (10s 6d per bushel). Littlo wheat is offering on the local market. Statistics go to prove that there will not bo nearly enough wheat to carry millers over till tha new crop is available, and there is a likelihood of wheat having to be purchased from Australia. At the present timo Duncdin millers are holding small stocks only. It is understood that the Government will shortly tako some action in the matter. Oatmeal is quoted at £2O a ton for 25's; pearl barley, £2O 10s; pollard, £6 10s (fixed by Government); bran, £4 (fixed by Government). The price of flour is fixed at £ls, f.0.b., by the Government. Tho oats market is in a stagnant condition. What business is passing is practically confined to filling orders for local requirements. Tho shipment of Algerian oats to the North Island has stopped the demand from this quarter to a large extent, but

though there aro u few orders still coming to hand, the prices offei-cd by North Island merchants are too low to enable merchants here to respond. The inability to secure shipping space is also having an effect in slacking business with the North Island, Prices may be given as 3s 3£d to 3s 4o> country sidings. The f.o.b. quotation is about 3s lOd. A Southland merchant states that there are very few first grade oats now available- there, and that a serious position is likely to arise consequent on a shortage of seed lines. PRODUCE REPORT. Supplies of chaff are quite equal to the demand. Potatoes are in good supply, chiefly from the Taieri and Tokomairiro districts. Eggs have again advanced in price. Dairy butter is in short _ supply, and all consignments are quickly picked up. Consignments of pigs and bacon are very short. Bacon rolls and sides show a further advance in price. Current wholesale prices aro as follow:— r Chaff.—Prime oaten sheaf, £5 5s to £5 10s; medium to good, £3 15s to £4 5s (sacks extra). Straw.—Oaten, £3; wheaten, £2 15s. Potatoes, £5. Canterbury onions, to 9s cwt. Eggs, 2s Id to 2s 2d; preserved, Is 4d to Is sd. Butter.—Milled bulk, Is 3d to Is per lb; dairy and separator, in lib packets, Ifl 7d to Is 3d. Pigs.—Baconers, 8d per lb; porkers, B£d. Bacon. —Rolls, local and Christchurch, Is 3d; sides. Is 2d; hams, Is 2d; ham rolls, Is 3d. FRUIT REPORT. Business in the fruit trade is rather irregular, consequent on the doubt that exists as to the effect of the reduction of the train services. It is thought that the town fruit retailers will have their business curtailed, but that tho retailers in the suburban towns will experience a busier time. Prices, however, continue satisfactory in tho meantime. Supplies of bananas and oranges are wanted. Supplies for Dunedin should arrive here next Thursday. The peach season is finished. Consignments of apples, pears, and tomatoes continue to arrive from the Otago Central. Fair quantities of tomatoes are also arriving from Christchurch, but as they are likely to be affected by frosts shortly they wiil not be able to ripen. Further shipments of apples from Nelson are probably at an end, owing to the absence of shipping space. Vegetables aro fairly plentiful. Large quantities of cauliflowers are arriving froip local growers. A number of the cauliflowers, are, however, affected with blight, and these are unsaleable. The following are the current wholesale prices: Oranges.—Tahiti, market absolutely bare; to arrive Thursday next. Apples.—Otago Central, dessert, 2d to 3d; cooking, lid to 2d; jelly, 4s to 6s per cwt; Canterbury, 5s to 6s per case; dessert, 5s to 7s. Lemons. —Californian, 25s per double case; 16s 6d a half-case. Bananas. —Unobtainable. Tomatoes. —Christchurch, outside, to 3d per lb; rough, 2s 6d to 3s 6d per case} Otago Centrals, 2£d to 4d for prime, others lgd to 2d; local hothouse, s£d to 7^d. Cucumbers. —Local hothouse, 5s to 9s 6d per dozen; small, 2s to 4s per dozen. Pears, Id to 2|d. x Grapes, 9J*d to Is 3d. f Quinces, lid to Cabbages, Is 6d to 3s per dozen; Is .to 3s 6d per sack. Cauliflowers, 2s 6d to 3s 6d per sack; 2s 6d to 6s per dozen. Lettuce, 4d to 8d per dozen. Vegetable marrows, 5s to 6s 6d per sack; cases, 3s to 4s; per dozen, 2s to 3s. Parsnips, 3s 6d to 4s 6d per cental. Carrots, 2s 6d to 3s 6d per cental. Beetroot, 3s 6d to 4s 6d per cental.

Potatoes.—Local, to 7s 6d per cwt, in cases; Taieri-grown, in sacks, 6s to 6s 6d per cwt. Green peas, lgd to 3d for choice. Queen pineapples, lis to 14s per case. MERCHANDISE MARKET. Colman's advise that the exportation of cereals has been totally prohibited by the authorities at Home. A license may be obtainable to export other goods, but the position is still a difficult one to forecast. Later advice states that mustard will be exported under special license. Matches have again advanced in price. Plaids are now quoted at 6s 3d to 6s 6d; Royals, 16s to 16s 3d; 250's, 27s to 27s 6d, according to quantity. With the exception of plaids, the marjtet is very short of supplies. I J reservene soap has advanced £5 per ton. Canned meats and potted meats are very scarce. The current quotation for potted is 7s per dozen for 4oz tins. During the past two or three days merchants have been inundated with orders for whisky, gin, and brandy. The rush has been caused by the latest Government proposals in regard to running the railways. A hew brand of tobacco —High Admiral—■ has made its appearance on the market. There are three brands—dark (2oz tins), aromatic, and mixture (each l§oz). Glucose is quoted at £3l 5s per ton, c.i.f.c., Dunedin. Argo edible oil has advanced £2O a ton in the last fortnight. A further increase is recorded in the price of cornflour. The American quotation for wire nails has been withdrawn. Canadians are still on offer, and these show a slight advance. All heavy lines of hardware show a' great advance in price. Cable advice from England and America states that lines such as steel plates and tin plates are almost unobtainable. With the exception of business with Calcutta, pig iron is unobtainable at the present time. Melhuish's sauce is up Is per dozen for quarts and 6d for pints. Fry's cocoa, in quarters, is off the market owing to the exceptional demand. Harricot beans show an advance in cost. To-day's price is 30s per cwt. The new l crop will not bo ready for shipment until about May-June. There has been a great demand from Europe for harricot beans. Pear's soap, unscented, is quoted at 6a per dozen cakes; assorted, 16s 9d per dozen boxes. Locally-manufactured starch has-been increased in price by £2 per ton. ,- The new season's shipments of rice are expected to arrive in Sydney about May. Sydney advice states that prices for all spice lines are still advancing, and that it is very difficult to get freight space for this class of cargo. New season's Indian coffees were expected to arrive in. Sydney about the middla

Of this month. Cablegrams received from Arabia announce that the market for Mocha ooffeo is firmer. Sago and tapioca show a decrease in yaluo. Sago is now quoted at 28s 6d; tapioca, 295. Cotton seed oil is now worth 8s per gallon.