COMMERCIAL.

Timaru Herald, Volume XCVIII, 16 May 1925, Page 3

COMMERCIAL.

| WHEAT MARKET MOVEMENTS ' Br Cable —Press Association —Copyright. Australian -nd N.Z. Cable Association. j WASHINGTON, May 14. ! Mr Jardine, Secretary of Agriculture, announced that there have been wrongful ' manipulations of the wheat market but definite evidence upon which to base convictions has not so far been uncovered. Investigation would clearly show that the wide fluctuations were duo primarily to . heavy trading by a limited number of professional speculators. Likewise, ;-ih c ir operations were faciliated by large public participation after mat-er--1 ial advances occurred in January. Mr ' Jardine desired to develop a method ; whorobv a repeption .of cuatic price changes would bo obviated.

GRAIN AND PRODUCE.

CHRISTCHURCH WEEK-END REPORT.

iiy Telegraph—Pros.' Association* CHRISTCHURCH, May 15. Wheat continues to be ottered with a shade more freedom than local millers desire, and storage space in many cases is getting filled up. now that the price is nxed, however, it is expected that the needs of northern millers will absorb offerings to an unproved extent. The oat market at the moment is very dull. Operators have disposea of their April purchases by sales to the north. The strength of the market wifi probably bo determined within the next ten days, when May purchases will have to be arranged for. Much of the northern business is lor Algerians. A grade Cartons are quoted at 4s GJd, and B’s at 4s Id f.0.b., s.i.. .values on trucks being 3s 9d and os 2d respectively. Algerians are quoted according to quality at 2s 8d to 2s lid. on trucks. Some business has been done in perennial lyograss at 5s 3d f.0.b., s.i. White clover is quoted at Is to Is 3d on trucks, and red at 6d to 9d'. A slight move took place in partridge peas, tuoro being a few sales to cover commitments at Cs 2d a bushel. Potatoes are showing no chango. The Wingatui, which left yesterday, took only a small consignment from Lyttelton, but lifted a lair cargo from Timaru. Another vessel :s scheduled to sail on Monday. Forward bought potatoes will probably bei cleared in the courso of a fortnight, and a revival then may set in. In the meantime, northern buyers are keeping' right off the market, the supplies going north mooting needs. Quotations on trucks are from £3 5s to £3 10s, but farmers will not discuss tho former figure, whilst only a few are satisfied with tho latter.

DALGETY’S REPORT. LONDON, May 13. meat. —New Zealand primo crossbred lamb, Canterbury, heavy lUtfd, light 12d; North Island, heavy IOJd, light 113 d; demand weak. New Zealand prime crossbred mutton, Can-, terbury, heavy 6d, light 6fd; North j Island, heavy, s ld, light 6d; demand | poor. j New Zealand prime ox beef.-—Fores 3£d, hinds sd; demand poor, market weaker. _ 1 Wool. —Wool sales closed active, with | good competition for all good wools. Continental buyers are the principal operators in merino; good demand Homo trade for crossbred. As compared with last London sale’s closing rates, merion greasy 3d to 4d lower, merino scoured 4d to 8d lower; halfbred wools, greasy 3d to 5d lower; fine crossbred, 5d to 7d lower, medium and coarse 5d to 7d lower; slipe wools 6d to 8d lower. 69,000 bales catalogued 43,000 501d—24,000 to the Continent, 18,000 Home trade, 1000 to America, leaving 115,000 earned forward, of which 90,000 have not been offered. JWe quote : —Merino, good to super, ;26d to low to medium, 19d to ' 25d; half-breds, 56-58, good to super • 23d to 26Jd, low to medium 18d to ,22d; half-bred 50-56, good to super 18d to 22d, low to medium I.sjd to 17d; fine crossbred 48-50, good, to super 1 16jd to 19id, low to medium 14d to 16d; fine crossbred 46-48, good to super. 15id to 17£d, low to medium 13£d to 15d; crossbred 44-46, good to super 15d to 16Jd, low to medium 13d to 14Jd; crossbred 40-44, good to super 14d to 15id, low to medium 12£d to 14d; coarse crossbred 36-40, good to super 13Jd to 14$d, low to medium 12jd to 13d. 1 Butter. —Market quiet; imports into United Kingdom for May, 1925 634,000 cwts., as compared with 375,000 cwts. for corresponding month of 1924. We quote New Zealand, 170 s; exceptional brands. 1745; Australian, 1625: Danish, 178 s. Cheese. — Weak; New Zealand, white and coloured, 945; Canadian, 87s.