POTATO MARKET ERRATIC

Sun (Auckland), Volume I, Issue 137, 31 August 1927, Page 2

POTATO MARKET ERRATIC

SPECULATORS OPERATING WHEAT FIRMER Press Association. CHRISTCHURCH, Tuesday. Potato values commenced to sag late on Friday afternoon, and the development was much more pronounced the next forenoon. The cause was the appearance of a Wellington operator, who sold liberally on a basis of £4 10s f.0.b., s.i., for August, a drop of 5s a ton on the week-end quotation. However, on Monday the market steadied up, and today the earlier week-end rate of £4 15s was restored. At the moment, Septembers are also at the earlier value of £5 2s 6d to £5 5s a ton. The gyrations of the market are due to the operations of the paper element in the business. Both the Waipiata, from Timaru, and the Wingatui, from Lyttelton, have been put back. The latter is due to sail on Thursday instead of to-day, which will mean an addition to her cargo. However, a shortage in Auckland is probable by the time these boats arrive. Generally, the position is not so depressed as last week. Wheat is firmer in price, and is quoted at 6s 4d for Tuscan, on trucks, while fowl wheat is worth 6s 6d f.o.b. for September, and a penny more for October. Oats are very dull, there being no inquiry. Chaff is also hard of sale, and the limit of offers on trucks is £3 to £3 ss. There is no change in the values of seeds. Cowgrass maintains a value of 110 s to 112 s per cwt. for dressed super quality.