The Temuka Leader. SATURDAY, MARCH 9, 1889. THE GRAIN SEASON.

Temuka Leader, Issue 1863, 9 March 1889, Page 2

The Temuka Leader. SATURDAY, MARCH 9, 1889. THE GRAIN SEASON.

Tee price of grain is the moat important question of the present time. We have had the grandest grain season that has been experienced in this colony within the memory of the oldest inhabitant. The yield has been above the average, and it" the weather had been specially ordered by farmers who had nothing to consider except to save their grain it could not have been better. We could have done with a little more rain—in fact, the country is now very badly in want of it—-but as regards harvest weather no one could desire better. The harvest haß been most plentiful, there is a good deal of it, and it will be so saved that the grain will be of the best quality. We have already seen some samples of wheat, and it was the finest that has ever come under our notice. There is, therefore, now only one question, and that is, What will the price be ? Our opinion is that it ought to be good, and, if farmers could afford to keep their grain for a few weeks, we are certain that by doing so they would improve it. In our opinion there is something like a combination amongst the buyers to keep down prices in the beginning of the season, but if the farmers could bold their stocks they would very soon bring these people to their senses. It is certain that at present the stocks held by millers and "merchants are light; in fact, it was asserted a few months ago that there was danger of the supply running Bhort this year, as there would not be sufficient grain in the Australian colonies to feed their own population. Confirmatory of the correctness of a forecast of the grain supply which we published in f uly last," now comes the telegram which appeared in our last issue, and which stated that New South Wales would require 6,560,000 bushels of wheat to supply her wants. Victoria will, it is asserted, have 4,600,000 bushels to spare, and thus if every grain of that went to New South W?les she would still be 2,000,000 bushels short. Queensland never had sufficient grain to feed her own population, and she also must find gram somewhere, and, though the statistics of the other colonies have not yet been published, we are inclined to think that, in consequence of the drought, some of them will be short also. Now, naturally enough, it is to New Zealand those will have to look to for supplies. It is alleged that they may get wheat from America, but if they do they will have to pay well for it. America will not simply Australia at a lower rate than that which is ruling in London, and the latest accounts we have from that city show that the price is getting up there by leaps and bounds. It was predicted in the article which we published last July that in the coming spring the price of grain would go up in London, as at that time it would be discovered that stocks were running low. This is the spring season at Home; the price of wheat has, according to a telegram received last Thursday, gone up sixpence per bushel in one jump. This again confirms the statement made by us last July, and denotes that in all probability the price of wheat in the English market will be so high that Americans will find it more tempting than anything which Australians can offer them. The conclusion which all this leads to is that there will be a grand market for New Zea-

land wheat in the neighboring colonies this year, and that the prices will he exceptionally good. Millers must have the grain, whatever they have to pay for it, and in seasons when there is any appearance of the supply running short they generally are not particular as to price so long as they can secure a stock. In confirmation of this we have only to remind our readers of what occurred in 1884. In that year agents came over to New Zealand from some of the other colonies to buy wheat; the local millers became alarmed, and at once ran the price up to 4s per bushel, but' this occurred rather lata in the season, and many persons did not profit by it. In all probability history will repeat itself this year, and it behoves our grain-growers to look after their interests pretty closely at l the present time. We know we are undertaking a great responsibility in advising farmers not to sell, but we have done so frequently before, and we have never been wrong yet. The prices ruling in New Zealand now are altogether out of proportion to those which are being obtained elsewhere. Three shillings per bushel in New Zealand and five shillings in New South Wales is altogether too glaring a difference, and before long the prices ia both colonies must come nearer to a level. The buyers of New Zealand i are, we firmly believe, in league to keep down prices in the beginning of the season, because they know full well that many growers are so necessitous that they must sell. They know that, unfortunately, many farmers cannot help themselves, and they mean to secure the.grain of these people before the prices increase. The London and Australian cable messages have come to hand fortunately in the nick of time to spoil their little game, and the prices must now go up before long. It is a pity that the Farmers' Cooperative Society do not turn their attention to assisting farmers in cases like this. If the society devoted their energies to assisting farmers in distress, so as to enable them to hold on to their grain on occasions like the present one, they would do farmers more good than by selling penny whistles and sticks of tobacco. We have frequently pointed out to them that it would be very easy for them to establish a bank, and by that means assist farmers to tide over their difficulties; but their minds have never risen above the penny whistle and the stick of tobacco, and we do not suppose they will ever be brought to see it.

[Since writing the above, news has come to hand which shows that something like a panic has set in in New South Wales.]