THE WHEAT MARKET.

Ashburton Guardian, Volume VII, Issue 1932, 30 August 1888, Page 2

THE WHEAT MARKET.

Tha "New Zealand Times" saya: — Froa various points of the horizon come signs ol fatate prosperity for New Zealand. Tc our country settlers the oatlook of th< wheat market is one of the healthiest seen for many years pant. From all parti of the Old World, with the exoeption oi Russia, comes news of deficient harvest, and medium qnality New Zealand wheal at the present time ia fetching 39a In London with a prospect of reaohlng 45j before Christmas. Should bad weathei Bet m m Europe within the next month the market will probably remain very firm. In districts m this colony where soil and climate are suitable for late Spring sowing our farmers would do well to enter more largely this,' season into wheat growing than they have done m prevlousJlyears, for there i» every chance of theie being able to obtain a good and strong market fop every quarter of wheat whloh can be raised, &. Two or three vessels have been chartered this week to load for England from New Zealand ports at 35e per ton ; 40a and 37s 6d are asked for vessels from Timaru andOamaru. The Lady Jooelyn has instructions to load a cargo of frozan meat at Wellington. The River Indus and the Renfrewshire are coming to Lyttelton from Queensland to load for ordera. The Glenlora la going to Oamaru to load the firat wool cargo of the season, and the Lutterworth, jaat arrived at Pott Chalmers, will probably load at Timaru. Consequent on the\newa of the increased advance of wheat m Eogland, the market here has hardened considerably; and there have been several aalea effected at satisfactory rates to holders. Some leading oommeroial men m Chriatohuroh look upon the increased quotations aa purely speculative, which may drop at any moment. Bat aa yet nothing haa bean heard to warrant Buoh expectation. In the meantime, aome speoial sales have been reported. One large line haa been Bold at 3s 3d f.o.b. for Intercolonial supply, and 500 buahela of good seconds have realised 2a 9d f.o.b. A aale of 100 tona of Rangiora floor h*B taken place »t market rates, over £8 having been paid, and active enquiries are atill made for it, for Auckland. The potatoe market has also been very aotive, and a large line waa sold yesterday at 66a 6d f.0.b., baga given m. There Is otill a strong demand for potatoes. It is stated that aales of wheat have been effected m the Aahburton district at prices op to 3a 3d per buahel f.0.b,., Lyttelton. Stoc.ka In the Aahburtoc warehouaea are being slowly reduced, but the want of freight at a moderate rate ia a hindranoe to aotive baalneaa.— "Lyttelton Times." The "Post" says:— The news of the large rise In the value of Australian wheat m the London marketshouldput new heart nto the farmera of Canterbury. At the jrlce now touohed, wheat production will >c a fairly profitable work for New Zealand >roduoers, and the proapeota of the Home larveat appear so gloomy that there oan oaroely be a doubt chat a steady demand t a remunerative price may be counted °* :■■■_ •

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