THE PRICE OF WHEAT.

Gisborne Times, Volume XXV, Issue 2094, 31 May 1907, Page 2

THE PRICE OF WHEAT.

1 1 FLOUR RAISED ANOTHER POUND. HOLDERS FIRM. OATS AND POLLARD GOING UP.

Press Association. DUNEDIN, last night. This morning, in tho absence of further nows from London, tho local wlioat market was somewhat calm in tone, but prices were as firm as ever. An offer of 4s 6d f.0.b., s.i., from an Auckland buyer was refused Dy a Dunedin holder for a considerable lino of wheat, and inquiries by wire in all markets in North Otago and Canterbury elicited the fact that very few holders-were willing to put a price on their grain, preferring to await market developments. A few lots are on offer at 4,-j Cd on trucks. Sales are reported at this figure.

This afternoon, however, the excitement recommenced upon receipt of instructions from the Christchurch headquarters of the N.Z. Flour Millers’ Association to make a further advance of £l, this representing a total advance of £2 10s per ton within a littlo over a fortnight. On Tuesday, 14th insti, flour was advanced from £8 15s to £9 5s per ton. On the following Thursday (16th inst.) another 10s rise was established, making the price £9 15s. Yesterday yet another 10s per ton was clapped on the price, raising it to £lO ss, and with to-day’s £1 rise added the price stands at £ll ss. The equivalent advance in wheat for tho same period is Is per bushel -(from 3s 6d on trucks to 4s 6d). Local millers wore- taken by surprise by to-day’s advance in flour, but they point out that it amounts to a measure of self-defence. Already millers who do not hold wheat are declining orders. The local branch of the Association has received official notification from at least two flour-milling firms of their intention to close down for the present, and it is fully expected that several other mills will follow suit during the next few days. Of course, this latest rise in 'flour must carry with it another rise in bread, and in all probability the bilkers will fix the price at 7d for the 41b loaf. The Millers’ Association has also advanced the price of pollard, which now stands at £5 10s per ton, both for local and shipping orders (ah advance of 10s), possibly out of sympathy with the rise in wheat. ( There has also been a move in oats. Every line of oats offering in this market was picked up yesterday by a speculator at a slight advance on current quotations, and to-day scarcely any oats are to be purchased. To-day’s quotation on trucks :s firm at 2s 8d per bushel —an advance of fully 2d per bushel on last week’s rates.

FOUR-POUND LOAF AT 7d. CHRISTCHURCH, last night. Wheat is now up to 4s 6d, "and an increase of £1 per ton for flour was made to-day, bringing tbe price to £ll. The bakers state that the price for bread will in consequence have to be advanced another id per 41b loaf, making the price 7d. ,

PRICES IN CHRISTCHURCH. CHRISTCHURCH, yesterday. The price of flour has been raised another 10s per ton. Bread is to rise one-halfpenny the 41b laof. The price of oatmeal is £l6 per ton.