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Taranaki Daily News, 7 January 1922, Page 5

COMMERCIAL.

SOUTHERN MARKETS. GOOD WHEAT PROSPECTS. By Telegraph.—Press Association. Christchurch, Last Night. The new season’s produce is now commencing to come forward, but on a very irresponsive market. The financial position is hampering all speculation, and offers being made by merchants are naturally within conservative limits. The recently published figures in regard to oat stocks might have been expected to buoy up the market in that cereal, but they had not even a slight influence. A fair number of small sales have been made, but at low prices for shipment to the North Island. It is understood that where threshing has taken place the yield has been disappointing, oats having suffered during the past few weeks’ dry weather along the coast, and quotations that have been made so far are on a basis of from 2s Id to 2s 3d for A grade gartons at country stations. A few parcels of new season’s Algerians and duns have been offered to merchants, but the offers have not exceeded Is 6d per bushel at wayside stations. Naturally there is no business at this figure. Good reports continue to come to hand regarding the wheat yield prospects. Along the coast where the rainfall has been rather low, a good deal of wheat is heading badly, but inland, where the rainfall has been mucli more liberal, to the extent of 2 inches to 5 inches in the year, the prospects could scarcely be better. The only unsatisfactory feature is the appearance of “take all,” but in the aggregate, though it will spoil some returns in North Otago and South Canterbury, the destructiveness at present does not threaten to be very great. Generally the wheat prospects are good. Several lines of new season’s perennial ryegrass have been offered merchants. The samples were of poor quality, and merchants’ limits were about 2s 3d. Good quality may be quoted nominally at about 2s Cd to farmers.

The potato market is much brighter. A fair number of forward sales for April-May delivery have taken place at up to £3 15s per ton. Dry weather is having the effect of hardening the demand. LONDON METAL MARKET. By Telegraph.—Press Assn.—Copyright. Received Jan. 6, 9.35 p.m. London, Jan. 5. Copper—Spot £66 Is 3d, forward £66 18s 9d. Lead—£24 7s 6d and £24 7s 6d. Spelter—£27 and £27 7s 6<l. Tin—£l67 13s 9d and £169 13s 9d. Silver 34|d per oz.—Aus.-N.Z. Cable Assn. ANTWERP WOOL SALES. Received Jan. 6, 8.5 p.m. Antwerp, Jan. 5. At the wool sales fifteen thousand bale.? were offered and thirteen thousand sold. Buyers were numerous and competition was animated. There a ten per cent, increase on the prices at the last London sale. France and Belgium were the principal buyers.