364 



THE FARMER'S MAGAZINE. 



REVIEW OF THE CORN TRADE 



DURING THE PAST MONTH. 



The month of March has exhibited extraordinary 

 differences of tempei'ature. The first fortnight was 

 a continuation of the sternness with which February 

 closed ; but immediately afterwards a brilliant spring- 

 time commenced, with a warmth occasionally op- 

 pressive, and an almost entire absence of rain. Field- 

 work was immediately resumed, and the sowing of 

 Lent corn, which had been interrupted by the severe 

 frost, has proceeded most favourably. Whatever 

 damage was done to the wheat and other autumn- 

 sown corn by the cutting winds must soon be ap- 

 parent, but as respects the principal grain very little 

 harm has been yet reported beyond what might have 

 been expected on exposed and light lands, from the 

 want of a snow covering. The dryness of the whole 

 season, and the general appearance of the plants, are 

 favourable to future prospects. The uncertainty of 

 politics at the outset of the month seemed a check 

 upon business, but the renewed assurances of peace, 

 followed by the most propitious weather, and a 

 liberty to export wheat in the Papal States, have 

 combined, towards the month's close, to somewhat 

 reduce prices, and the value in the London market 

 has receded about 4s. per qr. On all hands it is 

 allowed that good stocks exist throughout the coun- 

 try ; and if, with a steady importation from abroad, 

 farmers show an anxiety to sell, and overdo the 

 markets at a time when the spririt of speculation is 

 entirely wanting, there can be but one result, viz., 

 a stm lower range than what is now obtaining. One 

 thing is however certain, that the reduction in value 

 greatly; increases consumption ; and the largest im- 

 portations and lowest rates have invariably been fol- 

 lowed by scarcity and dearness, and the safety of 

 holding must be proportioned to the moderation of 

 prices. 



In the Baltic the season was commenced with 

 empty garners, and the produce of 1857 in these 

 quarters is consequently reported to be below an 

 average; and should any drought occur this year 

 in tliese fertile provinces, they may require an 

 importation: while Spain continues in this posi- 

 tion, and is likely to remain so till her new 

 crop is gathered. Neither Odessa or the United 

 States have yet shaped their course by the English 

 markets, though doubtless supplies will come 

 on thence for the chance of improvement here, 

 but not at the rates suggested by interest or appre- 

 hension, for old wheat has become a scarcity both in 

 the old world as well as the new one ; and while it 

 behoves us never to mistrust an overruling Pro- 

 vidence, it is well to remember that the blade on the 

 ground is not the sheaf in the barn. The importa- 

 tion from the Papal States is not permitted beyond 

 the end of May, and should prices rise materially 

 before then, would be suspended. In Southern 

 Europe and Algeria the wheat crop at present looks 

 well, but in the North some fears have been felt, as 

 the consequence of the great changes and exposure. 



The following were the recent quotations of wheat 

 in different foreign ports : — At Paris the finest quality 

 is quoted 41s., and Antwerp notes 42s. 9d. per qr, 

 as a (op price. Polish wheat at Amsterdam brought 

 5Gs. per qr. The best quality on the spot at Ham- 

 burgh was held at 45s. The rate at Stettin was 

 40s. 6d., and at Berlin 41s. 6d. Ghirka and Polish 

 wheat at Odessa was still worth 43s. per qr. Low 

 Saidi wheat at Alexandria had sold at 27s. 9d. 

 Berdianski quality, at Leghorn, was held at 44s. per 

 qr. At Alessandria, in Piedmont, top price was 

 41s. for soft wheat. Barcelona quotations were 

 still as high as 52s. Sd. per qr. New York, by last 

 accounts, was firmer ; the price of good red there 

 was 1 d. 25 c, equal to 43s. per qr. ; Southern white 

 1 d. 30 c. to 1 d. 521 p., equal to 44s. 8d. to 52s. 

 per qr. 



The foreign importations into United Kingdom for 

 the two months ending February 28th, 1858, were 

 006,394 qrs. of wheat, and 613,860 cwt. of flour. 



The first Monday commenced on a small supply 

 of foreign wheat, and a moderate one of English ; 

 from the near counties, during the morning, the 

 samples were but few. The weather was then ex- 

 tremely cold, and the condition being improved, it 

 went off steadily at the prices of the previous week ; 

 there was also a fair retail demand for foreign. In 

 the country there were but slight changes : Hull, 

 Manchester, Birmingham, and Bristol were firm; Lin- 

 coln and Lonth were Is. dearer, but a few markets 

 equally declined ;"Liverpool, being over-supplied with 

 French wheat, was 2d. per 70 lbs. cheaper. Friday's 

 market there underwent no farther change, and the 

 London trade remained quiet to the week's end. 



The second Monday was still less liberally sup- 

 plied from abroad, and what arrived was chiefly from 

 Antwerp ; of our own growth, the quantity was 

 moderate. The morning's supply from Kent 

 was good, from Essex insignificant ; the business 

 done was effected slowly, but there was a pretty 

 general clearance, at full prices ; foreign samples 

 being unchanged. No particular change took place 

 iu subsequent country markets : Leeds and Hull 

 were firm, but Birmingham scarcely obtained former 

 rates; Liverpool had but a thin attendance both 

 on the Tuesday's and Friday's market, and no al- 

 teration of quotations was noted. 



The third Monday had an increased supply of 

 foreign, with rather more English ; the near coun- 

 ties also during the morning sent up rather more 

 samples, and the weather having completely changed, 

 with some appearance of permanence, there was less 

 disposition to buy on the part of millers. Early in 

 the morning at the Kentish stands some choice 

 parcels were quitted at quite as good prices, but it 

 was afterwards difiacult to place without a small 

 concession. The foreign trade was heavy without 

 change. Several of the country markets responded 

 to the London reports by accepting a decline of Is., 



