The Wheat Market

Feilding Star, Volume X, Issue 62, 1 November 1888, Page 3

The Wheat Market

An incident illustrating the great advance which has taken place in the Home wheat market during the past -few months has been brought under our notice. On June 28 a small shipment of Tuscan was sent per s.s. Arawa, to London by a mercantile house in Christchurch. It was not considered a representative shipment, a good deal of it being rather out of condition. At the time of shipment, its outside value in Lyttelton was 2s 6d per bushel (sacks extra). . At the end of August the bulk of it was sold in London at 38s per 4961 b, a price equal to 3s 6d per bushel, clear of all expenses after covering, freight by steamer. The balance (24qrs), the most seriously damaged portion of the shipment was . held oyer for ten days, and then sold at 40s per 4961 b. The agent who effected the sale, in his letter of advice, say*, if as stated, the shipment must not be regarded as a representative sample of our crop, shippers from New Zealand this season will obtain higher prices for their wheat than they have been able to secure for some considerable time past. This opinion is borne out by the advices received by the San Francisoo mail, under date of September 7th, which state that New Zealand long-berried wheat was Belling at 42s while the best Adelaide fetched 41s 6d. Cable quotations since received give the price of New Zealand wheat of average quality at 43s. — Lyttelton Times. o