TRADE REVIEW.

Sun (Christchurch), Volume VII, Issue 2141, 24 December 1920, Page 6

TRADE REVIEW.

LARGE STOCKS OF OATS. -. Prospects, rather than actual business are just now engaging the main attention in the grain, seeds and produce market. Yesterday's rain will improve most crops, although, In the case of oats, harvest operations are well in progress. It is impossible yet to determine front reports how the yield will work out, particularly as it is some of the poorer Algerians crops which are being largely dealt with. The oats crops look rather patchy in some parts of North Canterbury, but improve towards South Canterbury. Near Timnru and southward* they are really good. Generally speaking, the yield should be very fair. Unfortunately for farmers, the amount of oats actually held by merchants is large. A census of stocks held on November 80' has been taken by the Government Statistician, and is as follows, corresponding figures at. this period last year being also.shown: — ?•.' Tills year, laity tar/ __ .j- Bushels. Bushels. Threshed ..-.. For threshing .. 16395 30,307 For chaff .. .. 18,569 23,377 Totals .. .. 2,320,691 1,425,461 As yet, no business has been done with growers upon which quotations can be given at country stations. But the j forward, f.0.b., s.i., market is weaker, quotations being from 3/2 to 3/2J per ; bushel. The presence of a lot of low j grade oats on the market is depressing* i matters. Growers are certainly ehow- ] ing some anxiety regarding the probable country station prices'; and a fair proportion may quit early in view of the | restriction, of credits on the pirt of the***- | financial houses associated with the I farming community. But, even if rates are hammered down at tjie opening of the season, if, a good proportion of Ihe farmers hold off the market for a space", there will be a firming up. They are adopting this attitude in the case of » wool, so that it is not unreasonable to suggest that they may do so-with oats. With the weather having such an influence in the matter of consumption, still another factor hste to be taken into! consideration, in estimating the prospective worth of oats, finch contingencies show how purely speculative is the forward business between mer- • chants.

The prospects for chaff, if judged solely by the level 'of, speculative forward business, are not particularly bright. For spread delivery, £6 per ton, f.0.b., s.i., is quoted, and, for prompt,, from £7 10/- to £7 15/-. The Marlborough oats croj) is claimed to be good, and--values have opened on tie present Canterbury equivalent. In the North Island, the. price per ton at country stations is given at £7. But it has to be remembered that H is very much cheaper to rail chaff from the oats districts in the North Isjand to Auckland than to ship from Canterbury. , • The* wheat crop is looking fair, butwhether there is sufficient wheat and flour in hand to last until the new yield is available for milling is a moot point. • A proportion of the mills only can grist wheat straight from the threshing machines—wheat for the others has to go through an interval of natural "sweating." Stocks of flour and on November 30, with corresponding figures last year, are as follows: FLOUH. '*' Thls'year. Last year. „.„ Tons. Tons. Millers .. .. .. 6,009 Merchants .. .. 3 091 Farmers .. "V. .. 109 Totals .. .. .. WHEAT. ~ ~. " v This year. Last year. Varieties. Bushels. Bushels. , Tusman ■ 404,577 1,321,474 Hunters .. 257,748 169.937 • Velvet and Pearl.; 129,651 91,893 Australian and unspecified 286,937 180,954 Totals ' ~ ~' 1,078,013 1,764,257 • A fair quantity of this, year's wheat iB held for seed purposes. Kates for potatoes, as. between merchants, appear to have opened at too low a level, anfl spread-delivery quotations have now firmed to £5 10/-. to £6 per ton, f.0.b., ai. There is no forward business, with growers. The crop itself is looking very well, but it is backward. There seems to have been a fair Amount of late planting, no doubt tin account of the frosts which were frequent at the ordinary planting time. Deliveries 1 may not therefore be heavy in the open-" ing months of the year, and this fact may influence prices at. country stations. Business in seeds is not brisk, and most merchants are awaiting the opening of the new season. The following are the nominal rates at country stations, with the exception of wheat and manufactured lines, which are on a f.o.b. basis:— Milling Wheat—Tuscan, 7/6 per bushel: Hunters, 7/8 per bushel; Pearl, 8/- per bushel. Flour—H6 10/- per ten. Bran— Shipping, 17 15/- per ton. Pollard—£9 15/- per ton. Cocksfoot—6d to Bd per lb. Ryegrass—ltalian, 5/6 to 6/6 per bushel | perennial to 7/6. . Dairy Produce; The market for eggs is irregular. The main quotation for country eggs is 1/7 per dozen, and these are retailing at 1/10. Some grocers are retailing grade eggs from 2/- to 2/4 per dozen, but the price at auction has just receded from 2/- tq 1/9. Offers of 6d per lb are being made for the newxfieason's honey, but this rate is not, as yet, being accepted. A low level looks certain, in view of the situation on the overseas market. Price of Salt Eases. The wholesale price of salt has eased by 20/- to 80/- per ton. Lower quotations are being made for Java sugar, but otherwise there is little to report in the dry goods market. Grocers are buying varieties of goods, but not in large quantities.