THE FARMER'S MAGAZINE. 



557 



REVIEW OF THE CORN TRADE 



DURING THE PAST MONTH. 



The weather during the past month has pre- 

 sented unusual opportunities for tillage and the 

 sowing of wheat — rain, though occasionally heavy, 

 falling but seldom ; and the early-sown plants 

 have generally presented an even, healthy, and for- 

 ward appearance. The stringency of monetary 

 affairs kept markets down at the commencement, 

 without, however, the apprehension of much further 

 decline ; and though there were rumours at first that 

 the French Government was likely to allow the ex- 

 port of corn notwithstanding the recent decree to the 

 contrary, they passed away, and future rates seemed 

 chiefly to depend on the turn of monetary affairs. 

 But as a specimen of the evils of arbitrary rule, 

 another change came over the Imperial mind be- 

 fore the middle of the month; and on the 11th the 

 news of the permission reached London by the 

 submarine telegraph, immediately throwing busi- 

 ness into a state of complete suspense, and bring- 

 ing down the price of wheat 3s. to 4s. per qr., from 

 which reduction it has not yet rallied, though the 

 market shows more confidence in present prices. 

 Unlooked-for events of such consequence as these 

 have completely baflfled all calculations, and given 

 a deeper impression of uncertainty to the future; 

 but as financial matters are mending, '^and the per- 

 mitted import will be regulated by a shding scale, 

 which any material advance will entirely check, 

 80 we hope the worst has passed, and that growers 

 will yet receive a fair remuneration for their pro- 

 duce. It has, indeed, been calculated that wheat in 

 France cannot be produced under 42s. per qr. ; 

 and as the highest quotations at Paris are 45s. 9d. 

 per qr., the French farmer— no longer shut up°to his 

 own country — is not likely to be in a hurry to clear 

 out his stock, especially when in such admirable 

 order for keeping. Indeed, a rise of 2s. 6d. to 4s. 

 per qr. has already taken place in some depart- 

 ments ; and at Bordeaux as much as 50s. 6d. 

 per qr. has been dem.anded with firmness for the 

 finest white wheat. Thus with a rise in France, 

 and a heavy fall in Britain, prices are already ap- 

 proaching a level before transactions occur ; and 

 the markets in Holland, Switzerland, Piedmont, 

 and Spain may present more attraction to commer- 

 cial enterprise than England. Excepting the ports 

 on the Danube, where fair samples of new wheat 

 can be had at 30s. per qr., scarcely any other coun- 

 try than France shows a margin on wheat ])rices for 

 profitable shipment to the ports of the United 



Kingdom — the rally on the New York market, 

 with inconsiderable arrivals and monetary diffi- 

 culties, all combining to restrict shipments thence ; 

 and though foreign supplies generally have in- 

 creased of late, the approach of winter, as well as 

 the state of trade, seems likely to reduce them. 



The decline in prices already seems to have pro- 

 duced smaller native supplies, the last fortnight's 

 sales showing a decrease, as compared with 1856, 

 of 35,793 qrs. Millers, therefore, are likely to 

 be so much less in stock, and so much more de- 

 pendent on the market ; but the fear of a competi- 

 tion with French flour, the best of which excels 

 town-made, will keep them on the reserve. To 

 show the value of wheat in foreign markets, we 

 exhibit the following quotations : In Rotterdam, 

 white COlbs. per bushel wheat was quoted 54s. ; at 

 Antwerp, the best new white was 49s. to 50s.; fine 

 red there and at Louvain, 62 to 64lbs. per bush., 

 46s. to 48s. per qr. ; Stettin fine red was 41s. 6d. ; 

 rates at Dantzic were 38s. to 50s. per qr. ; red at 

 Petersburg 45s. 6d. per qr., new Ghirka at Odessa 

 being the same price; at Taganrog it was Is. per 

 qr. less; Berdianski quoted 43s. for similar quahty ; 

 Galatz and Ibrail show low prices, viz., 22s. to 30s. 

 9d., but the freight was 13s. to 14s. per qr. without 

 other expenses ; at New York, Chicago spring red 

 was 33s. 8d., red Southern 45s., and white to 52s. 

 2d., with a freight of about 5s. 6d. per qr., and in- 

 surance, duty, &c., about 2s. 6d. per qr. more- 

 equal to 60s. 2d. per qr. here ; Philadelphia quo- 

 tations for red were 41s. 6d. per qr., white to 46s. 

 6d. per qr. 



Information being now gathered as correctly as 

 possible respecting the crops, it appears that the 

 reports furnished from the several English counties 

 show only four unfavourable and forty average re- 

 ports, against ninety-eight describing an excess in 

 wheat. In barley there were only nine reports of 

 excess, against seventy-three average statements 

 and fif.y unfavourable ones. Oats were still more 

 deficient, there being sixty-nine describing a short 

 produce, forty-five an average one, and only six an 

 over-production. Wales, as respects wheat, shows 

 thirteen reports of excess, and thirteen average 

 accounts. In oats there ai'e four reports of excess, 

 with eleven for an average, and nine short. Barley 

 was the worst crop, there being only twelve reports 

 of an average crop, and thirteen deficient. Beans 

 and peas throughout were defective, showing to- 



