MARKETS AT A GLANCE

Sun (Auckland), Volume 1, Issue 38, 7 May 1927, Page 4

MARKETS AT A GLANCE

PRODUCE TRADE REVIEWED MOVEMENTS IN THE SOUTH (Special to THE SU”S.) CHRISTCHURCH, Friday. The consistent easing that has been recorded in the potato market over the last few weeks showed no signs of changing until yesterday morning, when a further easing was reported. Later in the day, however, the market suddenly firmed, the reason being an inquiry from Timaru. Before this happened f.a.q. May whites were quoted at 82s 6d, but to-day 85s is asked. During the week the AVaipiata carried 6,000 sacks to Auckland. It is considered that the state of the Northern market is exaggerated, and that the position is really not as bad as it has been made out. Whether this contention is true will be disclosed as the season advances. For July to September deliveries sellers are offering £5 10s f.o.b. s.i., but buyers are hard to find, and business for late months is being done mostly by North Island forward sellers. The fact that Timaru is inquiring will throw all business on to Lyttelton, and the opinion is expressed that if the farmers held up deliveries lor a week the market would jump further.

Wheat farmers are not rushing supplies on to the market. For May delivery fowl wheat is quoted at 5s 9d, for June 5s lOd, and for July-Septem-ber as high as 6s Bd.

The market for chaff has hardened, and prompt deliveries are sold at £5 f.o.b. s.i., while spread lines over May to September are worth £ 5 5s to £ 5 7s 6d.

The position in the oats market has considerably improved. London and Australia have been inquiring and though no business has been done yet, this has tended to help things. For prompt delivery the quote is 3s Id for A’s and 3s Id for B gartons. Parcels spread to September are quoted at 3s 4d. For s.i.p.s.o. (South Island ports only) deliveries, the figure is 3s 3£d to 3s 4d, while much forward business is being done at as low as 2s lod for A’s, and 2s Sd for B’s.