CALDTORNIAN MARKETS.

Tuapeka Times, Volume XX, Issue 1356, 1 June 1887, Page 5

CALDTORNIAN MARKETS.

From recent Californian papers handed to us we extract the following as being of j interest to farmers and others, and from j which it will be observed that owing to a corner in wheat some of the San Fran* ' cisco millers were buying wheat in Kansas and importing to Frisco : Review for the week ending April 6th, 3887.—" The local market still continues to advance, although there is no change in Liverpool. In fact, the market here, so far as price is concerned, taking into account character, &c, is above the Liverpool level. The expectation is, of course, that Liverpool will advance futures, by the fact that August delivery in Liverpool is quoted 8s lid. But even here if we add to 7s Od — nearly the equivalent of Idol 70cts— Is, or the freight per cental at £1 12s 6d nearly, we have 8s as the cost, not to speak of handling, insurance, and other charges. It is, therefore, evident that there is nothing to be made In wheat at present prices, and unless the Europan market should advance to much higher figures, those who are holding for the higher rates must suffer disastrously. The high prices at which Californian wheat is held is causing importation. There has been no rain during the week, and though all wish it would come, it is not at present urgently needed. Receipts at tide water have been toleiably fair during the past week, fixports are light as usual. Shippers will not buy at present prices, and there is consequently little to be done. Wheat. — There is a corner in the wheat market, springing from speculations in the call board, which keeps prices up. During most of the week No. 1 shipping could not be had a . w than Idol 67^cts to Idol 70cts, and quot Lions in the call board were very light. Some millers have been buying wheat in Kansas and importing it to the city. Sales on call Tuesday were 13,200 tons. Buyer season close at Idol 81cts. Seller 1887, Idol 70gcts. May, Idol 78fcts. June, Idol 80cts. July, 1 dol 78cts— ofcts to6cts higher thana week ago.