Melbourue Markets.

Southland Times, Issue 10198, 2 July 1889, Page 2

Melbourue Markets.

The Argus of the 24th ult. reports as follows of the markets : — The business in wheat transacted to-day ha 9 been email covering a few hundred bags at 5s o£d tx store. Flour is steady bat not .in large aemand. There are sellers of New Zeaiaud j oats ai 4a Id, and ealea of good Dunedin feed hive been made at tai ; price. Small lots have been u-nced for export at 3a 3£d to 3s 4d under oond* Couuuon feed, slightly off, have been sold at is, duty pa d. Arrivals st Melbourne lass week amount to 38,152 bags, of which ii:>,sLl bags came from New Zealand. The vessels due to uciive this week will add from 40,^00 to 50,000 bags to our stocks. Tho shipments have been pushed on to arrive here before av.y increase in the duty on cereaJs can take effect, but it is expected that they will soon commence to fall off. Malting barley is unaltered. Sales of Cape barley are making at 4.-. Bran is without alteration. The market in sugar is fi m at last week's closing ia!e 7 . la addition to the purchases made for New Zealand account on Friday last, an o.der of si> tons has been received to-day fcp the san^i ds.tinaton. A c*ble message fr-~m Hong Kong states that the market there is very excited, and sugar is offering f.r August shipment. Coacerrung the position of sug;«r in 'Gufea New York advices of 4th May are as follows:—" Prom Uuba the advices indicating unyielding corfidence on the part of the more pr ■miiifnc operators there — planters and othpra —in control of the available supplies, which seriously impeded negotiations ..... It was reported that on most esta .es grinding was j,bo-ii com^-lead, and that tht output (partly estimated) wo.ild chow a filling off of about 160,000 ions, as compared with ihe aggregate vieid of the preceding r-rop year. Current high prices, it waa thought, woui i stimulate the planting of new landi with cane a> d render mare careful the cultivation of present stands, and check the tendency to convert sugar estates into cattle farm 3."