370 



THE FARMER'S MAGAZINE. 



REVIEW OE THE CORN TRADE 



DURING THE PAST MONTH. 



The indications of wintry weather which were 

 piven at the close of January, after some rapid 

 fluctuations and a moderate fall of snow, were 

 verified in the progress of the past month, which 

 closed with great sharpness. Still, as it has re- 

 mained on the whole unusually dry, we do not find 

 the promising^ aspect of the growing wheat abated 

 in this country ; but in America the absence of a 

 snow-covering has left the autumnal wheat too 

 much exposed, and it is in some localities present- 

 ing a sickly appearance. On the other hand, there 

 were recent complaints from parts of Spain that 

 the crop was impeded in its growth for want of 

 rain, which has since fallen, but not in sufficient 

 plenty. It will not be safe, therefore, to make too 

 sure that another heavy crop will follow the last, 

 as the most critical periods have all to be passed 

 through. The wheat trade has, however, not re- 

 vived, an ample six months' stock being yet in 

 growers' hands, and foreign supplies being good, 

 notwithstanding the fact that nearly all are either 

 sold to a heavy loss, or placed in granary to pre- 

 vent it. The money market has indeed passed 

 from scarcity and " high pressure," to a burden- 

 some abundance, with very low rates of interest; 

 but trade and confidence have not yet returned. 

 The month opened with complete depression, and 

 markets have generally declined 2s. to 3s. per qr., 

 and though an impression has been lately gaining 

 ground that the " minimum" price has been about 

 reached, with the country pointing upwards, the 

 sudden overthrow of the Palmerston Ministry may 

 again unhinge the minds of capitalists, and prevent 

 speculative purchases, notwithstanding a fall in the 

 averages to 45s. 8d. per qr. The least probability, 

 however, of a war with our present alli«s would 

 soon change the face of things, and the plenty 

 now offering in the markets be materially reduced. 

 Lord Derby or his successor will douljtless en- 

 deavour to prevent such a calamity, but Orsini's 

 prcjectile may yet be the occasion of a general 

 flame. 



Potatoes have held out better than expected ; but 

 as flour is comparatively lower, there must be a 

 larger consumption, and millers keep low in stock, 

 and proportionately dependent on events. Foreiga 

 quotations by last advices were as follows : — 



France, somewhat improving, quotes the price of 

 good wheat at Paris about 4$^s. per qr., and flour 

 Sis. per sack, or Is. per sack below Norfolks. At 

 Seville, flour 50s. per sack ; mixed wheat 53s., hard 

 58s. 6d. per qr. Cadiz: Flour, 50s. 6d. per sack. 

 Marianopoli wheat, at Barcelona, 45s. 9d. per qr. ; 

 worth the same here. Ghirka wheat at Odessa was 

 quoted 42s. to 44s. 8d. (seUing here at 46s.), hard 

 to 55s. per qr., with a fair business doing against 

 the opening of the port. At Leghorn, native wheat 

 was 48s. 6d. per qr. ; Genoa quoting 50s. for Ber- 

 dianski. Saidi wheat at Alexandria was quoted 

 27s. 4d.; selling here at 3l3. 6d. per qr. The 



Baltic ports, which arc closed except to steamers 

 cutting their way at great expense, show a range of 

 prices nearer to our own; good red at Stettin being 

 procurable at 403. per qr., flue high mixed at Danzig 

 46s. 6d. per qr. ; but the slock there of all sorts was 

 at present only about 28,000 qrs. llhenish wheat 

 in Holland was worth 46s. 6d., and iu Belgium, 

 good quality ranged from 43s. to 44s. 6d. per qr. 

 New York has a large stock of flour, wliich was 

 looking dowu ; but wheat was buoyant, white 

 Southern being quoted at 1 dol. 40c. per bush., 

 equal to 48s. per qr. ; red ] dol. 22c., equal to 42s. 

 per qr. 



The first Monday opened with moderate supplies of 

 both English and foreign wheat. The morning's sup- 

 ply from the near counties did not exceed an average, 

 the weather being again frosty ; but there were 

 many samples left over from tlie previous week, and 

 a large fleet of foreign vessels being reported off the 

 coast, tiiere was an unusual depression, so that it 

 was necessary to submit to a reduction of 2s. to Ss. 

 per qr., to make any way. Foreign was equally 

 difticult to place ; but holders were not so ready to 

 make an equal concession. This account had its 

 effect in the country, but generally the reducti"'a 

 was not so heavy, some places only noting a diffi- 

 culty in sales ; Sheffield and Birmingham making 

 the decline only Is. per qr., but there wis almost a 

 panic at Leeds, at 3s. per qr. less money. Liver- 

 pool, on its first market, gave way 2d. to 3d. per 

 701bs., witbout any quotable reduction oti the follow- 

 ing Friday. Saturday's markets generally noting a 

 fall of Is. to 2s. ; but Friday, in London, was the 

 dulicGt day known for some time, and a good deal 

 of fine Kentish was sent back unsold. 



Tiie second Monday, as respects the addition 

 of foreign samples, was much below the ave- 

 rage, with only a moderate quantity of English. 

 This morning, there was a fair show from Kent, 

 with less from Essex. The day was clear and 

 frosty, and highly favourable to the condition of the 

 samples ; and those millers who did not avail them- 

 selves of Friday's depression, found, for picked 

 samples, they had to pay the prices of the previous 

 se'unight : but, though more tone was evinced by 

 all holders, it was a poor day as respects business, a 

 good many parcels of English being left on the 

 stands. The tone of the trade improved in Loudon 

 as the week closed, Friday realizing an occasional 

 advance of Is. per qr. for picked parcels of English 

 and foreign. The country reports varied. Some of 

 the early markets in Lincolnshire showed progress 

 with the downward movement; but the general ten- 

 dency was to advance. Hull, Louth, York, and 

 several other places, made no change ; Birmingham, 

 Boston, Wolverhampton, Peterborough, Derby, and 

 Lincoln were all Is. per qr. better; Norwich, 

 Leicester, and Grantham noting an advance of 2s. 

 per qr. Liverpool, on Tuesday, was dull, holders 

 refusing to accept lower rates. On Friday, 2d. per 



