WHEAT.

Press, Volume LIV, Issue 16266, 17 July 1918, Page 6

WHEAT.

PURCHASE IN AUSTRALIA. TWO MILLION BUSHELS SECURED. (By Cable.—Prces Association.—Copyright) (Received July 17th, 1.5 a.m.) MELBOURNE, July 16. Tho Wheat Board has decided to sell to tho New Zealand Government 2,000,000 bushels of wheat at 5s 7jd : per bushel. (PRESS ASSOCIATION* TKI,EGIUM.) ELLINGTON, July 16. •> Tho Government has bought 2,000,000 : bushels of wheat in Victoria, to make 1 up tho shortage in various parts of New 1 Zealand. The Minister'of Agriculture stated that the threshing returns revealed a :' considerable shortage of grain. There was also the fact that some millers , • particularly in tho South, said that they were in urgent need of Australian wheat for mixing. The whole matter had been thoroughly discussed with farmers, with a result that tho information available for tho Government indicated n probable decrease in tie . area that would be sown in wheat this year. After getting a careful estimate up to February next year, the Gov- ' eminent decided to buy Australian wheat. Mr Shirtcliffo, of tho grain department of the Tiraaru Farmers' Cooperative Company, was sent to Australia to negotiate on behalf of the Government, in conjunction with the Now Zealand Trade Commissioner, Mr ' Manson. After rt thorough investuration, in New South Wales and Vio* toria, they rccoived an offer of Victofian wheat—an option of tho purhaae of 2,000,000 bushels. This option was to bo open till midday yesterday. The deal was closed in good time by cable, on terms regarded, as satisfactory in tho circumstances. Although the price of the purchftso is, for the present, undisclosed, it can bo assumed to be in the vicinity of 5s Sd. By tho last Australian mail official prices, in terms of flour for export to New Zealand, July to September, 1918, were 5s 8d per bushel, Hong Kong and Shanghai 6s, other Eastern ' markets, July to September, _6s 4Jd. For local consumption the price is 4s;: 9d per bushel, but for below fair average quality 3s 6d to 4s 6d, according to sample.