MARKETS AT A GLANCE

Sun (Auckland), Volume 1, Issue 50, 21 May 1927, Page 4

MARKETS AT A GLANCE

PRODUCE TRADE REVIEWED SOUTHERN POTATO PROSPECTS (Special to THE SUN.) CHRISTCHURCH, Friday. After a doubtful period, the potato market just a shade firmer and sales of f.0.b., s.i., were effected yesterday at 85s. Offers from the country had practically ceased and few potatoes had been bought for the best part of a week. Christchurch merchants, however, have still more than they require at the moment, and outlets from Canterbury have not opened sufficiently to ease the position. .Some of the crops have been dug light and their owners, after initial disposals, have little, and in few cases no, surplus. Further, merchants having for the moment more than they have been able to clear, have not offered prices which induced farmers who had a surplus to sell. A published letter of Mr. D. Jones, M.P., advising farmers to hold for higher prices has caused considerable discussion and may have had some effect in keeping back such supplies as have been left on the farm. The advance of the digging season shows lighter yields, with a greater percentage of seed to the table than is usual in Canterbury, though it is too early to say what the shortage will be. There is evidence available that farmers are being disappointed in the standard of tubers bagged, as table samples have shown a decline resulting in the close supervision by graders, and in one case the rejection of several hundreds of sacks as being below f.a.q. Whereas the increased area sown may correct shorter yield, it gives no relief to the farmer. Nominally the value to-day is £3 to £3 5s on the trucks, but it is possible that potatoes will gradually be bought at a slight advance on that figure. Quotations for June delivery range from 87s Gd to 92s f.0.b., s.i., July quotations are 97s 6d to 100 s f.0.b., s.i., with buyers indicating 955. July to September quotations are 110 s f.0.b., 5.1., but sellers '’Till not take much risk with these distant months until crop prospects are clearer. The position with regard to wheat is much the same as last week. Millers have stopped buying for the time being. Values to-day are nominally 5s Gd per bushel for Tuscan, and 5s 9d for Hunters on trucks. Fowl-wheat is worth about 5s 9d f.0.b., s.i., for May delivery, and quotations for May-June range from 5s 9d to 5s lOd.