Commercial.

Daily Telegraph (Napier), Issue 3102, 7 June 1881, Page 2

Commercial.

MESSES P. CUNNINGHAM & CO.'s MONTHLY MARKET TEPORT.

Christchueoh, June 1

TJp to date a little more than half oiu , yield of wheat has been exported, and, considering the amount of tonnage chartered, yet to"be provided for, the balance will not 'be more than sufficient for New Zealand requirements, and care must be taken that the example of over-exporting furnished by Victoria this season be not followed by this colony. The statistics furnished by G-overn-ment'and completed to-day show v marked decrease in the yield, as compared with last year. The following are the total deficiencies for Canterbvrt/ district alone, and we fear the returns of the whole South Island will show much the same ratio :— Wheat 652,0*73 bushels decrease Oats 3,39 V4QK „ „ Barley 396,172 „ „ Potatoes 8.479 tons ' ; , Freights.—Charters are difficult to fix. Shippers show no inclination to engage tonnage, and in the face of above returns, we fear little or no chartering will take place until later on in the season. Many ships are offering at 47s 6d for United Kingdom, but no business results, and we look for 45? being the current rate at an early dote. Wheat is firmly held for 4s to 4s 3d pnr bushel, f.0.b., sacks extra, at which price several large lines have been _ placed. Intercolonial demand has arisen in consequence of the small stocks held in Victoria, and we anticipate that colony will be importing before long. The English market has rallied again, and, at the time of writing, there is every evidence of a further rise. The first shipments of New Zealand Wheat Lave been, tested in the London market, and the result is highly satisfactory, 48s per quarter have been realised. We feel certain that our Wheat this year will be in good demand; the quality cannot hut recommend it to the English buyers. Sales, c.f.i., during the month have been limited ; for a large cargo 44s 9d was accepted last week, but shippers will not sell at that figure. Oats.—During the past week the value of oats has advanced 4d per bushel, and the price to-day is 2s per bushel for feed, and 2s 3d for milling samples, f.0.b., sacks extra. This sudden rise is in consequence of the enormous decrease in yield, as compared with last season, of 3,394,495 bushels in Canterbury alone, and which is far beyond the expectation of those in the trade. A decrease was expected in consequence of the dry season and the reduction of land put into crop through prices being so low last year, but no one anticipated such deficiency. The demand on all sides is now very brisk, but holders do not care to sell very largely, and we look for a higher range of prices. Barley.—Although there is a considerable decrease in this cereal, the price will be in no way affected, as the supply is more than enough for all demands. Elour, &c. —Quotations are unchanged, but wo do not think prices will remain at the present figures for long, as millers will be compelled to advance. Bran and sharps stocks are very limited, price advancing.

Potatoes show a decrease of oTer 8,000 tons, and pricesc consequently are firm, and Bhovv every indication of advancing. We quote to-day prime Berwents 58s to 60s per ton, f .o.b, sacks included.

Ten snips are now on the berth, eleven snips are chartered to load at Lyttelton, &c, and thirty-eight ships have cleared with this season's grain for the United Kingdom to date.