MELBOURNE GRAIN MARKET

Ashburton Guardian, Volume VII, Issue 2129, 8 May 1889, Page 2

MELBOURNE GRAIN MARKET

The National Mortgage and Agency Co. report under date April 30 : The persistent downward tendenoy m the English and American Wheat markets has had it 9 effect here, for we oannot attribute the easing here m that cereal to any other pause. Amerioan quotations, however, will as yet hardly perruit importations to this colony, and unless they go still lower we must depend onQur own prop, and as that is only enough for our own consumption our expectations of better prioes are still reasonable.

Wheat may be quoted at 5s 7d to 5s 83, but we have very little business to report. The large holders are still confident of better prices, and, as mentioned above, outside competition is as yet out of the question. Further San Franeisoo shipments are being made to Sydney, and the samples shown are very prime, at 4s 9d, 0.f.i., equal to about 6s Id m Viotoria.

Oats have experienced a slight rise from a temporary Boaroity, sales of bright New Zealand feed having been made towards ' the middle oi the month' at '4'si but they have receded again to the figures named m our last report, viz :— 3a lOd to 3s lid. Special New Zealand steamers have over-supplied the market, and some heavy shipments of Taamanian have also been rushed m. These latter are mostly of inferior quality and not within 3d per bushel of New Zealand sorts m value, Viotorians are practically out of the market. There 1b still some demand for thin Tartarian seed at 4a 4d to 4a 6d. but the season is almost over. A slightly easier tone is apparent m New Zealand and their f.o.b. prices are at present qn a par with our markets:, but should speoial boats be continued we look for a drop here, indeed there are signs of a weaker market already. Barley, has been m better demand at last month's quotations, Local grown is not of good quality and New Zealand is coming over freely, very little of it, however, being what can be olassed as Al, the top quotation to-day is 5b 9d. Cape is still low, relatively, 3a 3d to 3s 4d, and not much moving.