TIMARU MARKETS.

Temuka Leader, Issue 1483, 23 March 1886, Page 3

TIMARU MARKETS.

The Canterbury Farmers’ Co-operative Association, Limited, report for the ws«k ending March 20th as follows : The threshing machines in the district are now fully employed—the result we imagine, of the present comparatively satisfactory prices current both for wheat and outs. The following figures show the present value of wheat and oats compared with the prices current at the correspondisg time last year :

1885. .1886. Wheat, milling 2s 7d to 2s 9d Ss to 3a 4d Oats, feed ... Is 4d to Is 7d Is lOd to 2s Id

From ibis it will be seen that, as compared with last season, prices are now |ia

favor of farmers by 5d to 7d per bushel for wheat, and 6d per bushel for oats. In the case of the first-named cereal, this material rise in value is not in sympathy with the rates current during the past year is the London market, but is, in our opinion, the result of, in the first place, the decreased area of land under crop, and, secondly, the additional local milling requirements, of which farmers have received the full benefit during the year. In view of the restricted area of land under crop during the past season, and a possible increased demand for (he colonies, we do not anticipate any reduction in the present value of wheat. It seems extremely probable that values here will not be affected by the fluctuations in the Home markets, the cabled quotations being relatively below the current rates on the spot. The increased value of oals, as compared with last year, may be attributed to the exceptionally hot summer having retarded the growth of green as well as in some cases reducing the yield of oats per acre below the average of past seasons. This, combined with the fact that the quantity available will come from a much smaller area as compared with previous years, has caused a speculative demand on the part of merchants who have hitherto been supplying themselves for actual requirements only. During the past monlh considerable quantities of wheat have changed hands at prices ranging from 3« to 3s 2d L’or red chuff, 3s 2d to 3s 3|d for Tuscan, and 3s 3d to 3s 4d for velvet. The demand has been chiefly for milling purposes, little being held for speculation. ■ The market for oats has been fairly active, the new oats being taken by merchants at Is 10d to 1« lid for long feed, Is lid to 2s Id for short feed, and up to 2s 3d for short heavy milling. These may be taken as present values, No transactions in new barley can be reported. We hear of a few parcels having changed hands at 2s 9d to 3s for prime malting. The present value of butter is lOd to Is for fresh, and 9d to 10J for salt, kegfl extra.

AUSTRALIAN MARKETS.

Sydney, March 19.

New Zealand wheat has advanced 2d per bushel since last report, and is now worth 3i lid ; Now Zealand oats are Id higher, 2s 4d ; maize (561bs) remains at 3s 9d ; Sugar Company’s No. 1 pieces, £25 per ton. Adelaide, March 19.

Shipping wheat is in steady demand, without activity, at 4s 2d to 4s 4d per bushel ; Adelaide town flour, £9 5s to £9 10s per ton ; country brands, £8 15b to £9.

March 20.

The following items of Mauritius commercial news are taken from Messrs Ireland, Fraser and Co.’s monthly circular to hand per Messageries’ steamer Caledonien : —Mauritius, March s—General accounts say the crops are more favorable, the late rains having had a beneficial effect on them. The month’s engagements for New Zealand are; — Christchurch, 300 tons. Freights for Australian ports range from 17s to 20s, while to New Zealand 25s is asked. Exchange—New Zealand, 60 days, Bank credits, per cent. ; Australia, 19 per. cent. The stock of sugar in hand is 6500 tins, and the season's exports to New Zealand so far total up 5000 tons.

ENGLISH MARKETS.

London, March 20.

The weather is milder, but wheat stocks are decreasing, owing to delayed arrivals, but not of colonial cargoes. For the coming wool sales 280,000 bales are available.

March 21,

The total quantity of w heat afloat for the United Kingdom is 1,860,000 quarters.