THE FARMER'S MAGAZINE. 



173 



REVIEW OF THE CORN TRADE 



DURING THE PAST MONTH. 



After a very fluctuating and doubtful spring, 

 with some suffering from drought, such an ameUo- 

 ration eventually took place in the weather that the 

 present month has fairly brought us into harvest, 

 wliereas this time last year the calculation was, 

 that not before the middle of August would it be 

 general. Various opinions have been broached 

 as to present expectations. Blighted ears and 

 mildewed sta'ks have not failed to make their 

 appearance in suflicient quantity to suggest a 

 deficiency; and, on the other hand, the usual san- 

 guine views have been entertained that a great 

 crop is on the ground. One thing seems certain, 

 that the tillering of the plant was somewhat de- 

 ficient from the inadequacy of a timely fall of rain; 

 the same cause operating to lessen the quantity of 

 straw. But, the general axiom being granted that 

 " sun makes corn," of which there has been great 

 plenty; that the fields also have looked remarkably 

 level, and that the ears, though not very numerous, 

 are many of them long and well filled ; and that 

 many practical men give favourable reports, 

 leads to the opinion that a full average has to 

 be gathered ; but the weather on the night of the 

 27th being much broken with thunder showers 

 reminds us of our critical position. Foreign 

 countries in the South have many of them made a 

 successful and satisfactory gathering : that great 

 consuming country, France, being by universal 

 report very much better off than last year Lan- 

 guedoc and the South changing great deficiency 

 for abundance, and the whole country hitherto 

 promising a good yield. Yet it must be remem- 

 bered that even there there must be an immediate 

 and large inroad made upon the new produce — 

 foreign stocks, notwithstanding the immense arri- 

 vals at Marseilles, being well nigh consumed. 

 Egypt, Algeria, and Italy are undoubtedly well off- 

 Spain seems likely to supply her own wants. The 

 Danubian Principalities and Southern Russia are 

 well reported ; and Northern Europe, though un- 

 promising as respects spring corn (and especially 

 so in rye, which shows deficiency) is hkely to have 

 a better crop of wheat than last year. In America 

 this season is a late one, and therefore more critical, 

 especially in the North; but reports thence are 

 mostly favourable, though prices being at present 

 much higher than our own place, keeps this source 

 of supply quite in the background. The prospect 

 of an earlier harvest in this country, being equiva- 



lent to an unexpected provision of 500,000 qrs. on 

 small and reducing stocks, has produced its 

 natural effects, and July in this respect contrasts 

 with June. In the earlier month we reported a 

 gain in value of 4s. to 5s. per qr. ; in the present 

 month the London decline has been fully 8s. per 

 qr. ; but the closing market indicated more firm- 

 ness, it being well-known that millers have kept 

 their stocks at the lowest point, while through the 

 entire month the price of town-made flour has 

 remained at 54s. per qr. for the best quality. In 

 the present unsettled state of prices, quotations, 

 either in this country or abroad, are but of small 

 account; but in France, where the greatest changes 

 have occurred, we may make a comparison with 

 our own, especially as it is known that the mer- 

 cantile interest there are straining every nerve with 

 the Government to obtain a free export ; so it be- 

 comes a possibility that French wheat may again 

 appear in our markets should prices permit. The 

 best Normandy wheat at present at Paris is quoted 

 56s., to 58s. per qr., the demand being entirely 

 retail. At Antwerp as high as 67s. is still quoted. 

 At Rotterdam, with a moderate decline, the price 

 of the best red wheat was about 68s. 6d. per qr. 

 So these near countries are the most likely to at- 

 tract France should the export be permitted. In 

 Hambro' the quotations were for red upland wheat 

 were 58s. and the Danzic top price was 62s. 6d. 

 per qr. Berlin quotes 57s. ; Copenhagen dried, 60 

 lbs. per bushel, 50s. per qr. At Odessa the best soft 

 wheat was quoted 48s. : Sandomirka, 50s. 6d. per qr. 

 At Galatz, first quality was held at 42s. per qr. : 

 Ibrail, 43s. per qr. At New York, Chicago spring 

 red wheat was quoted 49s. 6d., and the best white 

 Genessee equal to 72s. per qr., and Southern 70s. 

 As respects the prospect for spring corn in this 

 country, it would appear that there has been too 

 much dry weather, especially for spring-sown beans, 

 oats, and late barley, to cherish the expectation of 

 abundance ; but doubtless the first deliveries will 

 be free enough to keep rates at a moderate point, 

 and the high rates lately paid for grinding barley 

 can hardly be expected to continue. In the south 

 of Ireland, on the coast, we have reports that the 

 potatoes are diseased. 



The London wheat trade on the first Monday 

 commenced on moderate supplies. There having 

 been a very beneficial fall of rain, with fine sunny 

 weather ^following, though the morning's supply 



