THE WHEAT MARKET.

Wairarapa Age, Volume XXXII, Issue 3160, 12 April 1909, Page 5

THE WHEAT MARKET.

A FURTHER ADVANCE. A SPECULATOR'S PROFITS. NEW YORK, April 9. May deliveries of wheat have be?n sold at 1 dollar 23§ cents, a rise of | cent over the previous highest quotation. Profit-taking caused a slight reduction in the profits of Mr Patten, a speculator, which are now estimated at £750,000.

LONDON MARKETS STRONG

LONDON, April 9. The wheat markets are strong. Holders are very firm, owing to a substantial decrease in the world's weekly shipments, and the prospects of still smaller shipments in ihe near future. It is anticipated that higher prices will rule. The American markets are excited, o*ingtoa report that fifty million bushels of American wheat will be required during the next four months. May wheat at Chicago yesterday touched 125g cents-the highes point yet recorded* There was a sharp corresponding advance at New York.

The American visible supply of wheat is 61,986,000 bushels. Australian cargoes are strongly held— March-April shipments, 42s 3d to 42s 6d, and April-May shipments at 435. Sales of three cargoes have been made at 42s 6d, two at 42s 3d, three at 425, one at 41s 4£d. Australian on the spot is selling readily at 43s 4d to 43s 6d per quarter. Flour is firmer. Good sales have been made in London at 30s to 31s, ex-store. Glasgow] holders are asking 32s 6d. A cargo of Australian wheat has been sold at 42s 9d per quarter. , Received April 11, 4.30 p.m. NEW YORK, April 10. It is reported that the green bug has reappeared in It he wheat fields of Oklahoma and Texas.