COMMERCIAL,

Grey River Argus, Volume XII, Issue 1085, 19 January 1872, Page 2

COMMERCIAL.

Christchokch.— The Lytldton Times of Saturday last reports :— Wo have little to add to our remarks of last week. Conflicting accounts are being daily received abont the state of the coming crops, and a considerable reduction in the yield is anticipated. Should the above be correct, fanners ought to be very firm in their opening figure for wheat, as, with the prospect of high rates ruling in the English market, and the great facilities given by the banks to ship under an advance, they have the market entirely in their own hands ; the only drawback is the want of tonnage. A fair demand has been experienced for old wheat at 4s 4d to 4a 6d ; the latter figure is only given for completion of shipments . The millers have reduced their price for flour, as they usually do at this season — first brands being offered at Ll2. New oats are already being offered, but the low price which is at present ruling (Is lO^d to 2s 04d) prevents transactions. Old oats have been placed during the week at 2s 3d to 2s 44d. In proviHions a steady demand is noted for the West Coast. Several account sales of butter have been received by the last mail, at quotations ranging trom 503 to 68s, and it is generally believed by several of the leading London brokers that an important and increasing business will be done in this staple. Sales have transpired during the week at 4d to 44d. Cheese, if anything, is reducing in stock, owing to the farmers curtailing their operations, as at the present value, and the great difficulty they experience in effecting sales, tho result is anything but satisfactory. Hams and bacon continue to meet with good support at 7d to 74d.