Commercial News

Feilding Star, Volume X, Issue 64, 27 November 1888, Page 3

Commercial News

WELLINGTON MARKETS. Wellington, November 24. George Thomas and Co. report as follows : — A considerable amount of activity in oats and wheat has been the main feature of the grain trade during the week. So much has life uot been infused for some years, speculators even from the South Island having been busy purchasing any available stock in our limited market. Shipments are leaving this colony for Australia, where the drought is calling for largely augmented supplies from outside sources. Quotations for oats from the .-*outh Island have gradually advanced since last Monday from 2s 3d per bushel, until, as noted in telegrams from Dunedin, showing sales at auction yesterday up to 4s Id per bushel. This agreeable change will mean a rich harvest for fortunate farmers who have persistently held on to their stocks. So long as the drought continues there is no means of arriving at the ultimate value of oats, which are now quoted in this market nominally at 3s 6d to 3s 9d. Flour has advanced auother £l per ton, and prices rule at £12 10s for roller and £11 lOs for stone process. Milling wheat, we note, in other centres commands from 4s 6d to 4s 9d per bushel, and all other lines of f eediug graiu show strong advances in sympathy with oats, but we refrain from quoting at present, until matters assume more settled tendencies. Oatmeal is firmly held ac £15 10s ; cheese, although uot yet quoted at an advance, must increase by Id to l-_rd, as sales in Sydney are being made at 10^-d per lb (2d duty). We also predict increased rates for prime potted butter. New potatoes from the Auckland districts command £8 to £9 per ton. Fruit is iv limited supply at satisfactory prices.