COMMERCIAL.

Temuka Leader, Volume 2, Issue 150, 31 May 1879, Page 2

COMMERCIAL.

GRAIN AND FLOUR MARKETS. The following is the report of the Christchurch Corn Exchange for the week ending Friday evening., May 30 : • Business during the week in the produce market has been a shade brisker, with special inquiries for wheat and potatoes. The advices from importing ports point to higher rates ruling. Wheat. —There is an increased demand for local requirements, with several inquiries for export orders. This is the outcome of the certainty there now exists of large supplies being wanted for markets in the adjoining colonies,' notably Victoria. Shipments of wheat and flour have been made freely from Melbourne, from the first part of the year to the present date, placing reliance upon the produce return being more than equal to the requirements for home use, which has now turned out far below the estimate, and importations are required to the extent of twice the quantity exported. The exports from Melbourne this season to May 10 are 175,532 sacks of flour and wheat. For the week ending May 13, 3136 sacks flour, and 20,976 sacks wheat, were exported to the United Kingdom and Callao. At the latter date, the Camilla and Nellie Bret were both loading breadstuff's for Callao. The fact of these importations being required show how seriously the crops all over the Australian colonies have been affected by the want of rain, and equally how important it is for the Government of New Zealand to publish a weekly report of the rainfall all through the principal districts in New Zealand. Important suggestions of this kind seem to have no effect on the Government. Values for this cereal in the Colonial import markets have increased, notably in Melbourne, Prime milling qualities are quoted there'at 5s 6d, with a firm market. Hero sales have been made for medium samples at 3s 6d. For firstclass qualities higher rates are looked for. The tone of the market is stronger, and has an upward tendency. Chickvvheat is in demand at 2sToa to 3s. Oats. —The market is weak, and sales are dull at last week’s- quotations. Local demand is fairly, good. No export trade can he done, as New Zealand plump milling are quoted in Melbourne at 3s Gd to 3s Bcl per bushel, with a plentiful supply. These low prices are attributable to the abundant supply of maize on the one hand and large importations of oats from New Zealand on the other. The mild weather during the last- three weeks, causing a flush of grass, has also had a tendency to weaken prices. There is little doubt, however, that as winter draws on prices will improve. Last week’s rates are still to the fore with hardly such good inquiry. .Milling qualities, 2s Sd to 2s 9d : feed, 2s 5At to 2s 7<h Barley.—The local markets are fairly supplied. There are still inquiries for ex-

port, lint-at reduced rates. Prime malting quality cannot be quoted at over 5s Lid to 5s 9d ; medium quality. 4s 3d to 5s 3d; feed samples, 2s Gd to 3s 6d. Potatoes. —Several export orders have been executed during the .soek at advanced rates. The fact tlat extremely high Sydney quotations have appeared in one of the public organs has unsettled the minds of holders. 'This extreme quotation should be confirmed if correct, or corrected if quoted in error ; in the meantime, it is looked on as unreliable. The supply of potatoes all over the Australian Colonies is short, and more particularly in Yicloria. It is roughly estimated that if Canterbury continues exporting freely, high rales will rule ere seed time. Farmers are holding in face of the above facts for an advanced price. Sales have been made during the week for pressing demands at £3 10s per ton. The market is very firm, and higher rates will have to be paid for large parcels. Crass Seed has not been much inquired fbr during the week, and although an (increased demand wqs in existence a few • days ago, it has not been sustained. There will be no great inquiry till spring, when there is little doubt it will meet with ready sale ; prices nominal. Cheese and Butter.—The former Gd to GJd,‘the hitter lOd to lid.