MARKETS AT A GLANCE

Sun (Auckland), Volume 1, Issue 32, 30 April 1927, Page 7

MARKETS AT A GLANCE

PRODUCE TRADE REVIEWED GLUT OF POTATOES Southern merchants seeking relief from a congested potato market by sending parcels North on consignment have overloaded Auckland market, and most local merchants are fully stocked. Prices have eased, and merchants’ quotations ex store range from 7s to 7s 6d per cwt ex store. Present indications are that there will be little change for the better in local values for the next few weeks. Local potatoes are generally not of the best quality and not in great demand. Inferior quality onions still continue to flood the market and merchants are buying mostly only to meet present requirements. Quotations through store for the better keeping samples are in the vicinity of 5s 9d a cwt Maize is still in extremely short supply, and a large shipment of the Java cereal due to arrive on the Sussex next week is practically all sold to arrive at 7s 9d ex wharf. With the approach of winter a better demand has set in for chaff and quotations through store are, £9 5s for Blenheim and £8 15s to £9 for Southern. Pollard is in short supply owing to the increasing winter demand, and prices register a hardening tendency. Quotations through store range from £9 10s to £lO 10s a ton. Ample stocks of bran are held locally and quotations remain unchanged in the vicinity of £8 a ton ex store. On account of the uncertain future of the wheat market owing to the various conferences between the Government and the Southern sellers, not having reached a definite decision, prices for this cereal tend to fluctuate with little business resulting. Millers are now coming on the market, however, and prices have hardened slightly during the past day or two. Local ex store quotations range from 7s 6d to 7s 9d.

SOUTHERN MOVEMENTS

~ WHEAT FIRMER (Special to THE SUN.) CHRISTCHURCH, To-day. With bad weather business in markets is not exceptionally brisk. Potatoes are still easy, though there are a few sellers of May-June deliveries at 85s. Shipments to the North Island seem to have been too heavy recently for Auckland to absorb, and a very few inquiries are coming from there. This is tending to leave a very dull market at this end. The wet weather has made prospects of the market firming much brighter and, if it keeps up, business will undoubtedly harden. Prices for distant months, July to September, have not shown a drop corresponding with the earlier months’ quotations for those months, and deliveries cannot be obtained under £ 5 10s a ton f.o.b. South Island. The forward market for oats is quiet, and supplies hard to buy. Faced with the prospect of a hard winter and lack of feed, most farmers are holding their crops in stack. A Gartons for prompt delivery are selling at 3s Id fo.b.s.i. and b.s. at from 2s 9d to 2s lOd. Very little business is passing at present, and the outlook is not too good. Wheat has hardened a trifle. Supplies of chaff are still available for prompt delivery at 95s to 97s 6d a ton i.o.b.s.i. The market has a firming tendency and prospects for the future are quite good.

NEW ZEALAND LOAN

£6,000,000 ISSUE By Cable. —Press Association.—Copyright LONDON, Thursday. The “Morning Post” says the New Zealand Government is having underwritten in London a loan of £6,000,000 at 5 per cent, interest. The issue price is not stated.—A. and N.Z.