Maize Values Moving Upward

Sun (Auckland), Volume II, Issue 357, 18 May 1928, Page 12

Maize Values Moving Upward

PRODUCE MARKET REVIEW POTATO PRICES FIRMER May IS, 9 a.m. Maize has come to the forefront in grain, seed and produce circles over the past week or so, an increasing demand bringing about a gradual strengthening of the market. The potato market is steady in the South, but, owing to a disarrangement of shipping operations, which wfll result in a period of over a week expiring before the next boat comes to hand, prices on the spot can be expected to harden next week. The arrival of the colder weather has had the customary effect of increasing the demand for maize. On top of this supplies of good quality cereal in the Bay of Plenty appear to be practically exhausted, and merchants are forced to turn to Gisborne and higher prices. The market has had a hardening tendency all the week, Poverty Bay sellers registering Oliver Twist tendencies all along. During the past few days quotations have been received offering the cereal at 5s 9d f.0.b., but no business has been reported at this figure. In every instance brokers have been advised that the lines were off the market, and further parcels have been offered at a higher figure. At the moment the nominal price for good quality cereal is 6s 3d on the Auckland wharf, but tor prompt on the present market it would be hard to land at much under 6s sd. The market generally has a strong tone and indications are that even higher prices may rule before the arrival of the new crop. Any unreasonable 1 demands from holders will, however, be regulated by the price of wheat. POTATO SHORTAGE THREATENED A position somewhat similar to that ruling prior to the Easter vacation threatens to develop next week in regard to potatoes. The Kairanga arrived from the South yesterday with 5,000 sacks of potatoes aboard.. The Waikouaiti was scheduled to leave Lyttelton to-day for Auckland direct, but the sailing date has now been postponed till Tuesday. Thus there will be a break of over a week in arrivals of Southern produce. Then four boats will come to hand one on top of the other. The Kurow from the Bluff left Dunedin last night scheduled for Oamaru, Timaru, Lyttelton, Napier, Gisborne and Auckland. The Waipiata leaves Dunedin on Tuesday evening next for Lyttelton, Wellington and Auckland. The Wingatui left Dunedin yesterday for Oamaru, Timaru, Lyttelton, and Auckland. The spot potato market at the moment is normal with a slightly firmer tendency than last week, t wing no doubt to merchants anticipating next week’s shortage. Stocks can be expected to be firmly held over lhe next eight days at from £7 10s to £8 through store, with good quality tubers all selling at the later figure. Merchants are now booking orders for seed potatoes to come forward about the end of the present month. Planting is already under way in the Pukekohe district. ONION MARKET FIRMER The onion market has a firmer tone in the South, and indications are that the end of the season is in sight down there. A large percentage of the consignments coming forward are v ,ot of the best quality, and there appears a wide variation in prices quoted in ’.he local market. The new price In rhe South will necessitate sellers here asking 10s to 11s a cwt. In the marts quotations held to-day at 7s to 10s a cwt. Orders have been booked for Japanese onions to arrive in August at a price that will see them being retailed in crate lots at from 18s to 20s a cwt. Limited stocks, which are being firmly held in the Pukekohe district, will be available for a short period after the end of the Southern season, but July requirements will have to be drawn from Melbourne. As yet, however, no business has been reported with forward sellers in that quarter. Oats are firmly held in the South at prices necessitating merchants here asking up to 5s 5d through store f.r r A Gartons. A few sellers, but there are not many, who bought forward very early in the season are quoting down as low as ss. The recent advance in the price < f chaff has been maintained, with a turther slight advance over the past few days. On the spot merchants ai-e asking up to £lO, though isolated business is being put through at a slightly lower figure. Brand and pollard still meets .it a ready sale with supplies barely scient to meet the demand. Throu h store the Southern product is quoted at 11s 6d for pollard and 8s 6d for bran. Regular sunplies are being drawn from across the Tasman. The wheat market is steady with quotations through store ranging from 7s 6d to 7s 9d. Merchants are apparently only buying sufficient for i mediate requirements. June, July a: d August parcels are being offered at 5s lOd f.o.b. s.i., ports.