SOUTHERN PRODUCE MARKETS

Dominion, Volume 13, Issue 257, 24 July 1920, Page 10

SOUTHERN PRODUCE MARKETS

TEMPORARY QUIET IN OATS DEALINGS, By Telegraph—Press Association. Chrlstchurch, July 23. The oats market hns developed into somethine in the nature of n "battleground, of wits" between Auckland and southern 'merchants, with tho former tho winners so far. The '.weak sellers of last \reek provided sufficient—it is understood to bo in tho vicinity of 20,000 bags —to fill northern deliveries for the month, and a period of quietness may now be anticipated until August deliveries are due. Tho transactions have caused a weakening of tho market, and a weakening of local merchants' confidence, as a repetition (when the time for next month's deliveries cornea duo) of last week's semi-panicky sales would depress tho market to the degree of a serious slump'. Tho fact 'that practically all the oats are held by merchants, who have a fair idea of tne quantity, and some basis upon which to Judge tho position, removes tho probability of a bad slump. In the meantime there is no business with growers, and up to 4s. sd. at country stations would bo the limit of merchants' offers. Chaff has experienced a slight easing in sympathy with oats. The announcement of tho Prime Minister regarding the embnrgo has revived a little interest in tho potato market. To be of any use tho removal of tho embargo will have to come soon. A number of growors liavo resolved to leave the crop in the ground. A little shipping is in sight. Next week the.Waihora leaves for Auckland with ft full consignment of chaff picked up from Dunedin, Timani, and Lyttelton. Tho Kaituna sails oarlv in tho week with a mixed cargo, comprising good' quantities of oats and potatoes, and thore is a prospect of another boat tho following wrek. Jn crass-seed lines there has been some activity in white clover, and quite ft number of parcels have been traded at up to 2s. id., and occasional ones a shade higher.