THE FARMliR'S MAGAZINE. 



371 



REVIEW OF THE CORN TRADE 



DURING THE PAST MONTH. 



The month of March has passed with but few 

 indications of spring. It commenced with rain, 

 which was followed by frosty nights and occasional 

 snow, and though much wind has prevailed, wet 

 still swamps many of the heavy lands. The few 

 fine days experienced rapidly showed their bene- 

 ficial effects on the wheat plant, which has recom- 

 menced its growth favourably on the fine high, 

 well-cultivated land ; but it shows the reverse in 

 several localities, with many thin rows, and all the 

 plants weak and small; still, should genial weather 

 set in, these may greatly recover. The few roots 

 that escaped the frosts have been nearly used up, 

 and, with the grass only just beginning to grow, it 

 has become difficult to provide for stock. The 

 winds, though mixed with rain, have done much 

 good to the samples newly thrashed, and there has 

 been a general improvement in the condition. This 

 circumstance, with hght home supplies, and a still 

 greater falling off in foreign, as well as firmer rates 

 •abroad, have recently brought about a more cheer- 

 ful state of trade, with an advance of about 3s. per 

 qr. on the currency of the previous month. The 

 last averages, which are always about a fortnight 

 behind the real business transacted, being 45s. 2d., 

 only show a rise since last December of Is. 8d. per 

 qr. ; but should the recent advance be permanent 

 they are likely to reach 47s., which would bring 

 us to the rates of last July : and as stocks keep 

 reducing, and will be in firmer hands, the defi- 

 ciencies of last year will begin to be fell, and very 

 likely lead to a farther advance. This seems of 

 late to have become the impression so generally, 

 that a speculative spirit has reappeared in the trade, 

 and large transactions have taken place for spring 

 delivery in the Baltic. It indeed cannot be over- 

 looked that less wheat has been sown than usual, 

 partly from the autumnal heavy rains, and partly 

 from its being so unremunerating. 



The sowing of spring corn has been much im- 

 peded, but a few dry days will probably make up 

 for lost time, and as there is plenty of moisture in 

 the soil, there may be nothing lost on this score by 

 lateness. The wheat plant on the Continent is 

 variously reported. In some parts of Germany 

 there have been complaints in consequence of the 

 severity of the season ; but in Southern Europe, 

 say Portugal, Spain, and Italy, the appearances are 

 •considered favourable. As a whole there seems 

 no cause for apprehension ; though, as a better 

 »ineans for providing for the shortness of last sea- 

 •son, the Pontifical Government has recently decreed 

 the permission of foreign imports free of duty, 

 and Naples has extended the permission till May 

 Should politics drift into war, there would proba- 

 bly be a much higher range of prices, stocks 

 everywhere being small, compared with the ave- 

 rage of years, so that the safe ingathering of the 

 next harvest is of the highest importance. The 



French markets have lately fluctuated, but after 

 a transient calm have again been moving upwards, 

 so that liberal imports from France are exceedingly 

 improbable. Belgium and Holland are as dear as 

 ourselves. The Baltic ports seem not likely to be 

 open till the end of April, and scarcely leave any 

 margin for profitable export. Odessa prices are 

 comparatively high ; and America, instead of giving 

 way on the prospect ofjj a re-opening, steadily ad- 

 vances her quotations for breadstuffs ; and the last 

 accounts sent from this country will give more or 

 less excitement to every foreign shipping port, as 

 well as produce higher demands. The following 

 quotations have been recently current in the several 

 places noted : Choice wheat at Paris was worth 

 52s., the lower qualities 46s. to 47s. 6d. per qr. ; 

 fine Baltic wheat at Antwerp was 53s. 6d. per qr. ; 

 at Termonde the top price was 50s. ; at Louvain 

 64lb. red wheat was worth 51s. to 52s, per qr. 

 Fine wheat at Danzig, which a little while ago was 

 procurable at 48s., has been subsequently held at 

 52s. per qr., free on board; at Stettin the best 

 red was 48s. to 49s. ; Berlin and Konigsberg 

 quoted a similar price. Sales of fine red Danish 

 wheat have been made at 51s. per qr., cost, freight, 

 and insurance included. At Hambro' red Upland 

 62lb. wheat was worth 50s. 6d. per qr. At Odessa 

 wheat had sold at 36s. to 43s. per qr. Galatz 

 quotations for soft of best quahty were 36s. per qr. 

 In Spain the markets remained irregular in conse- 

 quence of the difficulty of transit. At Santander 

 wheat was neglected. At Arevalo it was only 

 quoted at 40s. ; while at Seville the best hard was 

 as high as 70s. per qr. New York quoted 43s. 4d. 

 for Chicago spring, 50s. for white Kentucky, 53s. 

 4d. for white Indiana per 480 lbs. 



The first Monday in London commenced on 

 very moderate English supplies, and only one 

 small parcel of foreign. The morning's show of 

 samples from the near counties was also small, 

 and the condition being somewhat improved 

 sales of all dry qualities were more freely made, 

 at fully the previous quotations, but all lots 

 out of condition were still difficult to dis- 

 pose of. The foreign trade, uninfluenced by the 

 small supply, remained very slow and retail. 

 The country advices were all of a similar character, 

 showing an increased firmness even where the 

 supplies were good, and some, as Boston, 

 were rather higher. Both Tuesday and Fri- 

 day's markets at Liverpool were thin, and prices 

 steady. The Scotch and Irish markets were much 

 the same. 



The second Monday was better supplied with 

 native wheat, and again there was scarcely any 

 from the continent. The morning's supply from 

 Kent and Essex was again deficient, and the winds 

 prevailing having much improved the condition, 

 sales were occasionally made at Is. per qr. ad- 



