THE SOUTHLAND GRAIN REPORT.

Southland Times, Issue 4492, 2 December 1882, Page 2

THE SOUTHLAND GRAIN REPORT.

The Southland Faemeus' Co-operative Assooiamok'sTßepojit for the week ending Friday, Ist December, is as follows :— Theproduce market is very flat, so miich so that dating the week there have been no transactions in <rain to report. The depressed state of th Australasian corn trade has caused a heaviness in the market, and taking this in connection •with a slackness in the local demand, values hive in consequence turned in favor of the buyers. Although" tbie market is very bare of wheat, and tffe%Ulet'9 stocks extremely light,

yet there is no desire on their part to operate,, except sparingly, and at slightly reduced rates an last; week's quotations. The over supply of New Zealand wheat and flour to the* Sydney market has had a most prejudical effect on values." Both wheat and flour have in consequence fallen, very much in price. The prevailing opinion is that the Sydney wheat and flour market may recover slightly. Some of the holders of New Zealand wheat in Sydney are arranging to make shipment from there to London. The price of wheat in Melbourne has fallen to aslow as 5s per bushel. The millers are not anxious buyers at these low quotations. The oat market in ■ Melbourne for the moment is firmer. Sales of stout oats are given at 3s 6d to 3s 9d per bushel in bond. As the Victorian harvest approaches^ much low»r range t of .prices is expected to take place. Withrespect to the question as to the benefits that some superficial thinkers contend follow when a high range of prices for corn has ruled, the following will in a measure dispel such misgivings:— Take the light yields of grain crops in South Australia and Victoria, which, although a high range of price has for BOine time prevailed, the .result must not only be a serious loss to the agriculturist, but to the consumer and the entire working community of the Colony. Admitting the mean wheat return ,of the two Colonies, to be seven bushels per acre, which maybe looted uponthis year as an outside estimate, and reckoning the value of wheat to bess per bushel, which is riot likely to be realised to the farmer, the return would be 35s per acre. Assuming the yield to be more abundant, and with a much lower range of price— say the former at 14 bushels per acre, and the latter at 4s per bushel or 56s per acre. To the extent of the grain in the extra wheat productiveness to the acre— 6o per cent— the two colonies would be richer in their productive industry. This grain would, in fact, be so much additional wealth. All increased productiveness Of the soil beyond normal value of production is so much clear profit, and therefore the weight of crop is the first principle to look to, and if ncourai, «. i«w ranee of price is one of Nature's laws, andone that has areuaoncy of a very high order of things. To illustrate this principle clearly, assume that South Australia has 1,800,000 acres, and Victoria 1.000,000 anres of wheat under crop this season, the return 01 seven bushels per bushels per acre, at 5s per bushel 3 would be £4,900,000. To take the increased yield at 14 bushels, and the low range of price at even 3s 6d per bushel, the return would be in wealth £7,140,000— 0r in other words the additional production gained from the soil, would be no less than £2,440,000; therefore cheap and plenty should be order of the day. This is the true key-note to throttle the speculative tendency which a scarcity o"f commodity breeds, and which is in itself so destructive to true commercial enterprise and oppressive to consumers. The wheat yield of South Australia is vaguely estimated at under five bnshels per acre, and that of Victoria under 10 bushels per acre. With wheat at even 5s per bushel, the wheat-growers of those colonies cannot compare at all with the farmers of New Zealand, where the wheat yield averages, with an ordinary season, from 20 to 30 bushels per acre; and in the favored parts of the Middle Island and in many parts of Southland, as much as 40 bushels to the acre are reckoned upon with a degree of certaintyJj Wheat. — In the absence of transaction la st week's prices are given. Milling wheat is worth 4s 4d to 4s 7d for town delivery. Oats. — The market is dull, with few inquiries. Good oat 3 are in very limited request at 2s lOd per bushel at wayside stations. Grass Seed. — The demand is not brisk ; 5s 6d per bushel is the quotation for town-dressed ; farmers' parcels neglected. Butter. — The supply is much in excess of the demand, and the price has fallen to 8d per lb.