THE WHEAT MARKET.

Gisborne Times, Volume XXV, Issue 2083, 18 May 1907, Page 3

THE WHEAT MARKET.

Press Association —Copyright. Received May 17, 11.27 p.m. - NEW YORK, May ,17. Another sensational advance in wheat has occurred at Chicago, partly due to reports of crop losses in Russia. July wheat - jumped from 92J -to 991. September reached 1003. The volume of business is immense, a few leading firms alone taking seven million bushels. The market- closed unsettled, prices off top wheat join- ' ing 4 cents. In *New York "trading is active. The market closed unsettled. Part of the advance was lost. Press Association . . -THE RISE IN FLOTJR. DUNEDIN, yesterday. The Otago Daily . Times states that the directors of the New Zealand. Flourmillers’ Association, at their, ordinary monthly meeting, . held in Christchurch, decided to advance the price of flour by another 10s pel ton, making a total rise of £1 per ton within a week. The reason toi this rise is obviously the advance in the price of flour in the Common wealth, thus making importation', from that source prohibitive. It i: a matter of common knowledge'thai the possibility of the importation oAustralian flour has been nulitatin- against any advance in the New Zeland commodity, despite the gra dual hardening of the wheat market. Now, howover, that wheat is hardenin<r all over the world, the advance ha's been established in Australia, -ant should the excitement continue, the outlook is for higher prices for flou. and bread throughout the winter.