A CALIFORNIAN VIEW OF THE WHEAT MARKET

Ashburton Guardian, Volume VII, Issue 2050, 30 January 1889, Page 3

A CALIFORNIAN VIEW OF THE WHEAT MARKET

> r Tho followiug wheat report f'om the ! San Francisco v Trade Review " of 6th Tecomber, wi 1 doubtless be read with interest as a market forecast from a ' gre»t wheat produc ng quarter : — Wheat : Seldom hjs it fallen to the lot of whoatholders to pass trhough a more dif-courasj-in; set of Influences than have for several days fastened themi- el ven upon the situation ; ad if after a careful analy?is (here appears any prospect for an improvement ia the couaa of a short time, it must m great me sure be assigned to the sort of o u^age and c.nfid nee tha*. dooa not u'i— t derstand when defeat ia at hand. There , are still many who hold that matters must ttike a favorable turn early m the new year, the basis of such reasoning being the outting off of supplies from Russia, and meagre consignments from India, along with ihe impression thit thin country will hereafter furnish less than its usual quota, That may he so, and m that event the foreign market may be benefited late m the season, but with (he present liberal stock m Kr gland and the surfeit on the continent, it doe 1 ? not aeem possible that prices can rally, unless some national disturbance intervenes, wh'ch m view of the marvellous advance m diplomacy ee?ms quite remote In addition to this the stock of wheat and fl mr m this State, December let was 555 337 tonn, or 59,888 more than on January Ist, nenr'y 600,000 tons of which will be available for export, ordinary receipts from Oregon added to the diff renca being probably quite enough for home consumption. If therefore, the various other estimates of the world's crop were 80 much out of the way as m the case of the States, there s ems little occsion for any anxiety od the ecoe of total deficiencies. Prices have lacked support throughout the week, reports of dullness abroad with indifference on the part of buyers here, causing a steady contraction At the close it would have been difficult to real is 3 40s for prompt shipment abroad, while locally choice shipping alongside was placed at $I*so per cental.