WHEAT AND OATS.

Rangitikei Advocate and Manawatu Argus, Volume XXXIV, Issue 9388, 6 March 1909, Page 6

WHEAT AND OATS.

(From Christchurch Press.) The palmy days of wheat-growing, so far as price, and not yield, was concerned, were in the “sixties.” From 1860 to 1870 wheat averaged 6s per bushel, the highest average annual price during that decade being 8s 8d in 1864, and the lowest 8s 5d in 1867. During the next decade whoat averaged 4s 6d per bushel, the highest average annual price being 6s per bushel in 1877, while’3s obtained in 1870 was the lowest. From 1880 to 1890 the average annual' price suffered a further decline to 3s 9d per bushel, during which time the average annual price rose as high as 4s in 1882, but fell as low as 2s ll££d in in 1885. During the “nineties” wheat continued to decline in price, averaging only 3s 4>£d per bushel—that decade including annual average so far apart as 4s B££d in 1897, and 2s 6%d in 1894. From 1900 to 1908 the decline ceased, wheat again averaging 3s 4%d per bushel, the highest annual price being 4s 7% last J ear » and the lowest J2s 5d in 1901. The prices quoted are for prime wheat of the best quality. Gats for their part have been subject to fluctuations scarcely less violent. From 1860 to 1870 their average annual price was 4s per bushel, being as high as 5s in 1863 (wheat then averaged only 5a 7d), and as low as 2s 3d in 1868. This useful cereal never again saw such glorious days, for during the “seventies” it averaged only 3s lid per bushel, 4s 6d in 1874 and is 6J£d in 1876 marking the limits of its fluctuations during the deoade. From 1880 to 1890 its avreage price declined to 2s Id per bushel, with annual fluctuations as far apart as 2s 10>£d and Is Bd. During the “nineties” there was a further decline, the average price over those ten years being only Is lid per bushel, though the annual fluctuations from 2s 6%d in 1898 to Is 7d in 1895 were less violent than during any previous deoade. From 1900 to 1908 the average annual price rose to 2s Id, the highest average for any one year being 2s last year, and the lowest Is 6>£d in 1904, being indeed the lowest average annual price (save that of 1876) in the history of New Zealand. Judging by present prices only, 1909 threatens to establish a new record in the!price of oats. From the foregoing figures it will be seen ‘that wheat and oats have fluctuated aloug parallei'lines. Both , declined tseadily, decade by deoade, till the end of the century. In both the decline was less ‘ rapid and the fluctuations less violent as ’the end of the century approached. In both, again, the decline ceased with the new an upward tendency made itself apparent. To make the parallel still more complete the longest period of depressed prices which wheat suffered corresponded exactly witht haiw hioh oats suffered, viz., the years 1899, 1900, and 1901. During that period, which most be remembered with bitterness, wheat averaged only 2s 6d per bushel and oats only Is 9d. It is to be hoped that the present low price of oats is merely temporary, and that it will soon revert to snob a figure as will leave the farmer a reasonable margin of profit. In a future issue we may investigate some jof the causes and effects of tbese fluctuations.