GRAIN AND PRODUCE.

Globe, Volume XXII, Issue 2067, 8 October 1880, Page 3

GRAIN AND PRODUCE.

The rain that has fallen since onr last report has done immense good to the growing crops, and will ease the mind of many an anxious farmer. Reports from all portions of the Canterbury district speak most hopefully of the present ont'ook It is also pleasing to note a s ight improvement in the I ondon wheat market, but we fear no material and permanent advance is

likely to take place, unless, indeed, the “ American King ” is again buying np the American markets, in the hope of clearing off the loss on their lost season’s venture, which, if we are to credit the following extract from a San Francisco paper, has been considerable— •’ The Keene wheat speculation it appears was a failure, having re nlted in a loss of several millions of dollars to its originators. At one time the Eastern syndicate had bought 16,000,000 bushels of wheat. It was proposed to close out the wheat last May, but the attempt did not realise the expectations, and it was decided to postpone it till Jane, and by renewed purchases force up the price, and then unload. For a time it looked as if this would succeed, but Hazleton, Hoyt’s partner, oegan selling right and left, and prices went down. Now, almost ad the wh-at has either been shipped or sold, and tho Chicago owners of one-quarter interest in the pool find themselves each to have suffered a loss of from 250.000d01. to 300,000d0l A fair amount of business has been carried through during tho past week considering the time of the year. Good sound samples of milling wheat sell readily at np to 4s 2d, and secondary at 3a 6d to 3s 9d, according to quality. Flour meets a fair demand at .£ll f.o.b. for best brands. The mills are mostly running short time now, and will likely continue to do so till the next season’s wheat comes in. Good heavy oats sell readily at la 7d, but there is not quite so much anxiety to operate evinced as there was three weeks ago. Feed samples only command about Is 3d, which figure few ho.ders care to accept. A good enquiry continues to exist for first-class samples ot malting hurley, and such are readily disposed of at 3s 6d ; fair samples are not, however, worth over 2s 9d to 3s, and lower grades Is 9d to 2s 3d. Potatoes are quite neglected and quotations nominal. We have heard, however, ot some farmers effecting fair sales by making a house to house call through the town, and supplying family requirements at low rates. New butter is offering in abundance at 51 cl to 6d. but we hear buyers are only offering sd. A fair business has been done in cheese at 4d. Hams and bacon are unchanged.