WHEAT MARKET QUIET

Sun (Auckland), Volume II, Issue 514, 17 November 1928, Page 12

WHEAT MARKET QUIET

OTAGO MILLERS WELL SUPPLIED (Special to THE SUN) DUNEDIN, Friday. There axe few offerings of wheat at present and millers have a sufficiency of stocks. Only one or two sales for prompt delivery have been noted during the week. Merchants are also carrying heavy stof s of fowl wheat and the market Is dull. After a firm tone, the oat market has fallen off to a fair degree in briskness. A Gartons are worth 4s Id f.0.b., s.i., and B’s 3s 7d. These prices are equivalent to 3s 3d, sacks extra, on trucks at country sidings, and about 2s 2d for B’s. Although a much larger quantity of seed oats than usual is being sent out of Otago and Southland, an increased a»*ea of oat land is not being cultivated. The explanation seems to be that there ha° not been the customary interchange of seed lines between the growers. Business in old potatoes is quiet and the season is now nearing its end. Best, quality are worth about £ll a ton, and prices for lower quality are irregular. Business in the seed markets is practically confined to the retail trade. The market for ryegrass is firm, but the tone is not so good in other varieties. The demand for crested dogstail is weak, with a pressure to sell on the part of both growers and merchants. CANTERBURY VALUES WHEAT UNALTERED Press Association CHRISTCHURCH, Friday. The wheat position is unaltered, although there is a tendency toward an easing in fowl wheat prices. This class is quoted at 5s 7sd to 5s 8d f.0.b., sacks extra. The improved crop prospects have practically stopped the small amount of speculation that was taking place in next season’s milling wheat. Prices for the current crop show no change. Potatoes are about finished, as far as outside inquiry is concerned. Sales have been made at £ 10 15s f.0.b., s.i. Oats are lifeless, and stocks are principally held by northern merchants. Prices, f.0.b., s.i., are 4s and 3s 6d for A and B Gartons respectively. The seed market is stagnant. Cheap quotations are arriving from England for perrenial rye grass, cowgrass and Danish cocksfoot. Not much Danish cocksfoot is coming in, on account of its having to be stained, but the offers may have the effect of steadying the prices for the new local seed. Local cowgrass is quoted at s£d to 6d, but the quality is poor, containing a big

proportion of brown seeds. White clover, which is in scarce supply, is quoted at lid to 12d a lb. Perennial ryegrass is worth 5s 6d f.0.b.. si., and Italian 4s 3d. There is little of the perennial ryegrass to be had. There has been a good crop of dogs tail in Ireland, and no inquiry is coming from England. Southern quotations are 7d a lb., f.o.b. There is a heavy carry-over in Southland, and a recovery in values need scarcely expected. Fescue has nearly all gone into use. The American demand in the middle of the year was considerable.