THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 3494, 22 February 1921, Page 12

THE BREADSTUFFS AND PRODUCE MARKETS.

i'ridoj’ evening. The reports from Chicago that Fiance had purchased 36,000,000 bushels of Australian wheat, and Egypt 12,000,000 bushels, are not taken seriously in grain circles (says the Australasian). The manager of the Australian Wheat Board (Mr H. A. Pitt) refuses to make any comment on the subject, and rightly holds the view that it is unnecessary and unwise to enlighten our American competitors as to the correctness or otherwise of the figures. About mid-Deoember Broomhall's representative at Buenos Aires advised that the Argentine authorities were permitting export of wheat free of super-tax, but that the Government had issued no definite statement concerning their intention with regard to this matter. The general belief was that the tax would be abolished, but that another one may be imposed. Which course has been taken has not been advised, but as cable messages received from London state that European buyers generally are refusing to pay Argentina the export taxes on wheat, surcharges on export still exist. The opinion was expressed in London in Docember that, given a fair amount of competition, the export tax would not be paid by importing countries, and this has proved to be the case. Argentina sellers reduced their prices of wheat, but this may be due to the limited quantity which has been sold for export from that country. The fact that American markets have been holding for higher levels must have proved of advantage to Australia. Circumstances alone compel European countries to increase the cultivation of wheat, and all the time the areas are being extended. The seller who persistently holds out for fabulous rates invariably is the loser. The final official estimate of the wheat crop of the United States is 789,878,000 bushels, as compared with 934,265,000 bushels in 1919. The crop then wes valued at £2,817,999,000 nominally, but, owing to the fall in the price of wheat, this year’s harvest is valued at £1,830,000,000. The crop is much larger than was at first estimated as likely owing to the severe early winter weather. LOCAL MARKETS. If the weather holds up thrashing of the new season’s wheat crop will commence at the Taieri next week, and thence onwards there should be sufficient supplies to keep the local mills working. In one or two instances it is understood that frost has affected the crops on the Taieri. Wheat has been thrashed in Canterbury, but, owing to the demand there, none of it has come south. The thrashing of oats will also be in full swing on the Taieri next week. Indications point to 2s 3d per bushel, sacks extra, on trucks, as the opening price. Millers' prices are as follow:—Flour, £l7 per ton; 100's, £lB 10s; 50’s, £l9; 2o's, £2O. Bran, £8 15s per ton. Pollard, £lO 15e. Pearl barley, about £3O. Oatmeal, £25 per ton. Milling Wheat. —According to Government prices:—Tuscan, 7s 3d, f.0.b.; Hunters, 7s Gd; Pearl, 7s 9d (subject to adjustment). if the threatened dislocation of shipping occurs it will seriously affect the price of oats, as there is no storage accommodation in Dunedin owing to the late wool season. Farmers will therefore have a difficulty in securing storage for their surplus oats. Merchants in tile Forth Island are inquiring for A and B quality, for delivery during the early months. They are not prepared, however, to pay above 3s and 3e Id, f.0.b., sacks in, and local holders are not inclined to accept this offer. Several lines of ryegrass have reached the market from the south. The quality, however. is poor, and merchants are not making offers. The only lines that receive attention are heavy quality. Pi; LUCE REPORT. The chaff market remains unchanged. Few consignments have come to hand, but the demand is slack. The price for best quality may be given as £6, sacks extra, ex truck. Medium and poor quality is slow of sale at £4 to £5. Early potatoes are in over supply, heavy consignments coming in from Forth Otago and the Taieri. Prices have eased to £6 per ton. sacks included. Even at this price it is difficult to make sales. The high prices for eggs have restricted the demand, and the market is easier. Prices for pigs continue U’eak, and rolls and sides of bacon have been reduced Id per lb. Current wholesale prices are as follow: Chaff: Sound oaten sheaf, £6; medium, £4 to £5 (slow of sale). Eggs: Stamped, 2s 3d; plain, 2s 2d per dozen Dairy butter: Pats, Is 9d; milled, !■ 3 od. Margarine, Is lid per lb. Pigs: Prices easier.

Bacon: Rolls, up to Is 7d per lb; sides, Is 6d. Hams, Is 7d. FRUIT MARKET. The feature of the week has been the heavy supplies of outside-grown tomatoes from Kelson end Canterbury. The prices realised for the Nelsons will show a heavy loss to shippers. Supplies of apricots have eased off, very few lots reaching the market. Only moderate supplies of peaches and plums have come forward, not nearly sufficient to meet the demand. In fact, a strong demand exists for all dessert stone fruit. Dessert apples are in short supply. Cookers are fairly plentiful. Small consignments of Valencia oranges, passion fruit, and pines are due to arrive cn the Tarawera. The fruit should meet a ready market. A line of Fiji bananas is to arrive next week. It is understood* that the fruit missed the Kauna at Auckland, and that it will have to be brought to Dunedin by rail and ferry. Tho extra cost of transit has caused a reduction in the quantity which would otherwise have been sent forward from Auckland. Hothouse cucumbers realise high prices. Buyers are looking forward to the arrival ©f outside grown. The vegetable market is weak, only peas and Fiench beans meeting with a demand. Current wholesale prices are as follow: Dessert apples, 12s to 14s per case; cooking—cases, 6s to 7s 6d. Lemon: Californian, 455. Tomatoes: Christchurch, 3d to sd: local, 7Jd to 9d. Grapes, Is 8d to 2s per lb. Pines, 20s to 255. \ Nectarines: Crates, to B£d per lb; cases, 4d to 6d per lb. Pears, 3d to 4d per lb. Raspberries, Is to Is Id per lb. Plums: Dessert, £d to sd; cooking, 2d to 8d per lb Apricots: Crates, to gd; cases, 3id to sid per lb. Peaches: Crates, dessert 51 d to 7d; cases. Sad to 4t.d. New potatoes: Local-grown, lid; Outram and Waim ate, 7s to 9s 6d per cwt. Green peas, 2Jd to 3d. Cucumbers: Local hothouse, 9s to 12s per dozen; small, 4s to ss. Table carrots: New season’s, Is Gd per dozen bunches. Radishes. 6d per dozen bundles. Beet, Is 6d per dozen bunches. Turnips, 6d per dozen bunches Parsnips, Is 3d to Is 9d per dozen bunches. Cabbages: Best, to 3s per dozen; medium, per sack; prime. 33 to 5s per sack. Cauliflowers: Medium, 4s to 8s per dozen; sacks, 6s to 7s; medium, 3s to 4s. Rhubarb, lid to 2d. Lettuce, Is to 2s per dozen Spring onions, 3d per bundle. MERCHANDISE MARKET. Business is on ihe quiet side, grocers being inclined to hold off the market till the beginning of the month. A parcel of jute and hemp twine arrived by the Waikouaiti. M ?y' s Sydney-packed pickles are on the market. The bottles are nicely labelled, and present an excellent appearance. The current quotation is 19s per dozen. The price of rolled oats, in 20ib bags, has been reduced to 72s per dozen; 41b ba"s 15s per dozen. A reduction has taken place in the price of Creamoata. Malt vinegar has advanced in price. Bulk is now selling at Is 2d per gallon, and bottled at 11s per dozen. Thomson's meat meal is again on the market. Clover cream has been reduced id per lb Rock salt is available at 12s Sd'per cwt.' The price of O Cedar oil has advanced. The quo.ation for 4oz bottles in 18s lv >r dozen, and for 12oz 365. 1 Britto! disinfectant, ir. gallon tins is quoted at 7s per gallon. A new' line—Johnston's custard powder - has made its appearance on the market. Glitter polish—a new agency line—is quoted at 5s Gd per dozen SOUTHLAND MARKET REPORT, fFrom Our own Correspondent.;, INVERCARGILL, February 19. Markets all round are virtually in a state of stagnation, farmers being hard at work harvesting crops, and it seems apparent that those who have the grain and seed through the mill are little disposed to take current values. Oats.—Oats are being offered from the north at 3s Id for A grade Gartons, 3s fox B grade, while inquiries are being made local y for A s at 3s, all f.0.b., s.i. Local merchants are unwilling to quote at anything Jess than 3s 3d, but with definite quotations made for spread delivery from the north at the above figures, naturally no business is even.uating other than for strictly local requirements Tire State of tho London marloot is such that it is evident th-ere can bo no increase m prices; nevertheless there if ij de £i c ! ed amongßt growers to ©old. This, too, probably suits the mercnjßJi ts, who, after last year’s experience, •re unwilling to do speculative business.

Ryegrass.—The position is very similar to that of oats. A few sales have been made by growers, but the majority have decided to hold, thinking better prices will rule in the spring. The basis of prices is 3s per bushel on trucks (grower’s siding) for 241 b seed, with loss not much exceeding 15 per cent, nuring the week one or two lines of race clean seed, 221 b to 231 b, changed hands at betw'een 2s lOd and 3s. This, however, would not show a loss on dressing of much over 10 per cent. As far as I am able to learn, no wholesale business is passing, and the only inquiries ore through brokers, and these, doubtless, in the hope that, with samples in their possession, some business may result. There i 3, however, an entire absence of actual demand from northern quarters. Cocksfoot.—Prices have again receded ,and the local hand-thrashed line must be of decidedly good quality to demand anything over 8d per lb. Chaff.—There is very little offering from the country, and in view of northern prices merchants refuse to accept sellers’ ideas of value, which are in the neighbourhood of £6 on trucks, prime quality. The value can hardly be taken as exceeding £5 ss. OAMARU MARKETS. (From Our Own Correspondent.) OAMARU, February 19. The weather this week, though broken on ocasions by a little rain, has, on the whole, been favourable for harvest operations, and good progress has been made. A fair amount of wheat has been thrashed, and samples have began to come forward with some freedom. In the course of the week a few thousand sacks have changed hands, some of the wheat dealt in having come from the Canterbury side of the Waitaki. Murmurs of discontent are heard at the price of wheat not having yet been officially announced. It is, however, stated that no announcement will be made until the end of the present month. Some new season’s oats have been submitted, but no business has been none. Offers by merchants have been made of from Is 8d to Is lOd for feed Algerians, and from 2s to 2s Id for Gartons, net at country stations, but these were rejected as was also one of 2s 4d for a good sample of Gartons. In view of the present unsatisfactory state of the market, few growers of oats are going to ths expense of thrashing, and crops are being put into stack to await a more encouraging outlook. A sale of ryecom at 43 6d net at a country station is reported. Some business has been done in seeds, several lots of perennial ryegrass having changed hands at country stations at from 3s to 3s 6d net, according to sample. Cocksfoot has been dealt in at 7d and 8d at country stations, these prices being reducible to grower by brokerage. The superabundance of nape seed is well exemplified by the fact that sales have been made at country stations at 2d, reducible by commission. PROPERTY SALE. Park, Reynolds (Limited) on the 17th sold by auction, on behalf of the trustees cf the late Mr Johnston Brown, part of sections 39 and 41, block XIX, Dunedin, containing 1 rood 18.7 poles, fronting Royal terrace arid Queen’s drive, with an eight-roomed singlestorey house. There was a good attendance, and the bidding was brisk. The property was secured by Mr W. Henderson, as agent, at £1650.