CITY TRADING

Southland Times, Issue 24229, 12 September 1940, Page 3

CITY TRADING

WHEAT COMING INTO STORES SEED OATS IN DEMAND By OUR COMMERCIAL EDITOR Spring-threshed wheat is coming into merchants’ stores from the country in large quantities and it will be sampled by the grader of the Wheat Committee about the end of the month. Orders so far received for seed oats indicate that a substantial area will be sown down in this crop in Southland. A good shipping business in oats has developed during the last week, undergrade lines being in particular demand. In the fruit markets supplies of apples are decreasing and prices are moving upward. The shipment of bananas which arrived last week is being sold rapidly and a shortage before the arrival of the next shipment is unavoidable. The lafet shipment of navel oranges for the season may arrive about the end of this week. •' Oats.—The retail business for oats has begun and there are indications that a fairly large area will be sown down in the province this year. Supplies of the Onward variety are getting short and some of the merchants have insufficient for the requirements of their clients. There is a good demand for shipping, particularly for undergrades. Stocks held locally are light with very few offerings from farmers. Good sound milling oats is nominally worth from 3/6 to 3/7 a bushel o.t.c.s. Wheat.—There has been a fair amount of spring threshing of wheat and deliveries are being made to merchants’ stores. The Invercargill grain merchants have arranged with the Wheat Committee for its grader to visit Southland at the end of the month and clear up the balance of the milling wheat available. The halfpenny increment at the beginning of this month brought the current prices for milling wheat f.o.b. Bluff to 5/10J- a bushel for Tuscan varieties, 6/0i for Hunters, and 6/24 for Velvet. There will be another increment in prices of a halfpenny at the beginning of October which will be the final advance rate for the season. Lines of good whole fowl wheat are saleable to ports in the North Island allocated by the Wheat Committee at 5/6 a bushel f.0.b., s.i., which will enable merchants to pay growers 4/4 a bushel o.t.c.s. sacks extra.

Chaff.—Merchants are preparing to clear their stores for the wool season and are not anxious to receive large quantities of chaff. The value to growers for good bright quality is nominally £4/10/- a ton o.t.c.s.

Ryegrass.—Very little ryegrass seed of high germination is available, but merchants are inundated with offerings of low-germinating lines which are difficult to quit. There is a weaker tendency in the market, but prices remain unchanged.

Chewings Fescue.—Sales of fescue seed have been made overseas in the last week and probably more business would occur if cool shipping space was available.

Browntop.—There has been a fair amount of activity in the brown- top market in the last few weeks. Most of the local growers’ lines have now been sold. The value to growers for certified seed of satisfactory germination and purity is about 1/8 per lb and a penny less for uncertified. White Clover. —Most of the local lines of white clover seed have now been machine-dressed. The market is firm, but there has been a lack of overseas business in the last week. Prices for export quality seed of high purity are unchanged at 3/- per lb for certified, and 2/6 for uncertified. Potatoes.—There is no shipping demand for potatoes and merchants are not in a position to trade. Values are on a very low level. Most of the lines changing hands are for the supply of the local demand and prices are determined by auction. BANANA SHORTAGE PROBABLE The shipment of bananas that arrived last week has ripened in first-class condition and the bulk of the shipment is already off the market. A shortage before the next shipment is due will be unavoidable.

A shipment of oranges may be expected at the week-end. These will be navel oranges and may be the last. of this type to come forward this season. Lemons are expected to arrive about the same time. Marmalade oranges have been slower of sale even at greatly reduced prices, but supplies must be nearly finished and this may result in a final hardening of the market rates. Island tomatoes are expected at the end of the week.

Smaller quantities of apples have been coming forward during the last two or three weeks, but a gradual increase in prices has effectively controlled the demand, so that there are still sufficient for requirements. Pears have been scarcer this week. The vegetable market is unchanged. Wholesale prices are as follows:— Apples, from 7/- to 9/6 a case, according to grade and variety. Pears, 6/6 a half-case. Marmalade oranges, 9/- to 10/- a case. ~ Cauliflowers, 7/- to 10/- a sack. Cabbages, 4/- to 5/- a sack. Carrots, Id to l-<d per lb. Parsnips, l|d per lb. Swedes, 1/6 a sugar bag. Beetroot, Id per lb. Lettuce, 3/- to 4/- a dozen. RANGE OF PRICES Wholesale Bran: £6 a ton. Butter: First grade, 1/4J. Oatmeal: 25’s £29/14/- a ton; 200’s £27/14/-. Pollard: 100’s £7/10/- a ton; 150’s £7/5/- a ton. Flour: 200’s £l3/15/6 a ton; 100’s £l4/12/6 a ton; 50’s £l4/17/6 a ton; 25’s £l5/17/6 a ton. Retail Butter: 1/6. Bran: 7/6 per 1001 b. Oatmeal: s’s 2/-; 25’s 8/9. Flour: 25’s 4/6; 50’s 8/6; 100’s 16/-. Pollard: 9/- per 1001 b. EGG PRICES Eggs were quoted yesterday at 1/2 wholesale and 1/4 retail. SEPARATOR BUTTER Separator butter was quoted yesterday at 1/- to 1/1 per lb wholesale and 1/2 to 1/3 per lb retail. The prices of eggs and separator butter are subject to constant variation and those quoted were the prices ruling yesterday.

BANKS AND DEBENTURES (Received September 11, 6.30 p.m.) LONDON, September 10. Banks and debentures are quoted:—Bank of Australasia £5/17/6; E. S. and A. Bank £2/14/-; Union Bank of Australia £4/7/6: Bank of New South Wales £lB/15/-; National Bank of New Zealand 19/9: Bank of New Zealand £l/4/-: British Tobacco £1 13/-; Goldsbrough. Mort 17/6: Dalgety £4 2/6; P. and O. (deferred) 19/3 New Zealand Loan and Mercantile (4 p.c. debentures) £7l. (ord-). £22/10/-