SYDNEY.

Lyttelton Times, Volume VII, Issue 486, 1 July 1857, Page 4

SYDNEY.

Wheat and Flotjb.—This market remains without alteration. Several importations of wheat from Launceston- and Adelaide have arrived, but were imported to millers-orders. Home-grown wheat is still quoted at 6s. to 7s. per bushel, though scarcely a sample fit for flour making has been brought in. Flour remains at £18, for fine and £16 for second quality per ton, of 20001bs.— Herald, May 16. The effect of English Commercial news published this morning has been to impart a degree of stability to our import markets. The pros- j pect of a diminution in shipments has given confidence to holders, and rendered buyers disposed to purchase. _ There have _ been some movements to-day in rice, consequent on the news from Melbourne of an advance in that market. Some considerable speculations have been made at a higher figure than lately quoted, and buyers are confidently expecting to obtain 30s. per bag. Teas are still on the rise, and £6 6s. has been refused, £7 is the rate generally asked. In Melbourne holders, are asking £8. Sugars are exceedingly firm, and there are few sellers. We look forward to a higher quotation for Pampangas, as from the rise in Europe our next importations are likely to cost a very high figure.— Empire, May 19. ■ The later news from Melbourne reports increased firmness in the markets for all kinds of provisions and produce. Accounts of the partial decline in the value of British shipments to this colony are confirmed by latest mercantile advices. . . I _ From the East we learn that produce of all kinds, especially teas, had risen considerably in value. Increased buoyancy and firmness in our own markets are anticipated as a consequence, —May 20. The cause of the present firmness in the tea market and the general expectation of extreme rates will be seen from the subjoined extract from a letter, dated Hongkong, March 14th, just received by one of our importing houses:—

"We have to report a continuation of the excitement in our tea market, caused by the improved tone of the advices from England. The arrivals of tea at Shanghae and Foochow have been very small, and the rise in price has been rapid and very considerable. So much is this the case that we could not now repeat the execution of an order similar to the one we lately sent at an advance of 30 per cent, on the prices then paid. The export to England has decreased seven and a-half millions of pounds; to the United States six and three-quarters, or more than 25 per cent.; and with present high rates we think that small shipments of tea will go in your direction for many months to come. The total exports to all the Australian colonies this season, up to the present date, have been 5,158,400 lbs.—May 21.