CALIFORNIAN WHEAT FOR THE SYDNEY MARKET.

Waikato Times, Volume XXXII, Issue 2627, 14 May 1889, Page 2

CALIFORNIAN WHEAT FOR THE SYDNEY MARKET.

Miisi.sns Bai.kouk, Guthrie, and Co., of Sun Francisco, report, under date April !5, 1S8!), that the ship Reaper. sailed for Sydney on March US with a cargo of 70,000 bushels of wheat. They further state that all the steamer space tor April, May, and June, 800 tons in each steamer, has been taken up. The ships Brynhilda, Gatherer, and Notherby are to follow the Reaper with grain. The rates of freight to the United Kingdom for orders have declined to 27s (id, in the face of weak EuroDean wheat markets, and some pressure on the part of owners to lix. From otliei sources we glean tin; following:—ln California it is estimated that Australia will require 110,000 tons of wheat, and that the withdrawal of such an amount would trench considerably on Califorman supplies. On the 3rd April, No. 1 shipping was 3s s'd per bushel, and freight to the United Kingdom £1 (is 3d for order, and £1 Ss ltd for direct port. What the present freights to Sydney are is not stated. During the period between July 1 to April 3. !>1,!)">.) bushels of wheat and 1971 tons of flour had been exported from California to Australia. There is nothing in this news to dis;oncert the New Zealand farmer. The reduction in freights between California and the United Kingdom and the improvement of piicesinthe Home market, though but slight, are all in favour of his chances in the Australian market. While Californians can make pretty suro of realising oven somewhat less in the Home market than pnears to be realisable in Sydney they will prefer the more stable market.