THE FARMER'S MAGAZINE. 



551 



REVIEW OE THE CORN TRADE 



DURING THE PAST MONTH. 



The general character of the past month was far 

 from genial, nearly three-fourths of it being passed 

 under a piercing east wind, with night frosts, 

 which have made sad havoc with the early fruit, 

 but no injury appears to have been sustained by 

 the corn crops, though the expectation of an early 

 harvest has ceased. The fine rains which fell at 

 the month's close have produced very beneficial 

 eflfects, and vegetation has vigorously resumed its 

 growth, the fear of drought being greatly dimin- 

 ished, though the ponds in many localities are 

 still deficient of water. While for a long period 

 the markets presented so monotonous an aspect 

 that it was becoming wearisome to observe or 

 report them, the past month has witnessed ex- 

 traordinary fluctuations every week, as the conse- 

 quence of the sudden outbreak of war between 

 Austria and France, with some apprehension that 

 Russia would interfere, and all Europe be finally 

 involved. The probability only of this event pro- 

 duced a steady rise in the value of wheat, in 

 April the gain being about 5s. ; but though the 

 first Monday of May noted the extraordinary ad- 

 vance of 10s. to 12s. per qr., since the assurance 

 that Russia will take no part in the strife, and that 

 our own Government intends to preserve a strict 

 neutrality, the summary of the four weeks' history 

 scarcely shows more improvement than 4s. to 5s. 

 per qr. in addition. The course of the averages ex- 

 hibits a total gain of 12s. 7d. per qr. from the 

 lowest point, viz., the first week in last January, 

 when they were only 39s. lOd. per qr. ; the next 

 lowest being 40s. at the beginning of April; and 

 the last average reaching 52s. 5d.; so that in less 

 than two months we find a general advance of 

 12s. 5d. After all, we are only brought to the 

 moderate range which we obtained in November, 

 1857, or eighteen months ago, when the averages 

 were 52s. 6d.; and as the average of November, 

 1855, was as high as SOs. lOd. per qr., there is 

 still ample room for a further advance, should our 

 own country be involved in the European conflict. 

 And who can vouch for the quiet of Germany ? 

 or the contentment of Napoleon should victory 

 favour his armies } 



Complaints already come from Northern Italy 

 that tlie promising crops are in danger of not being 

 gathered, and the waste that may I)e produced by 

 the movements of immense hostile armies is in- 

 calculable. All the world too, excepting France 



and this country, is less provided with stocks than 

 usual, and upon the next gathering everything 

 depends. There is, therefore, more probability of 

 a speculative spirit than when the rates were un- 

 usually depressed, without the least likelihood of a 

 return to the dead lock and low rates that lately 

 ruled. The weather here, with advices from 

 Europe and the seat of war, must influence mar- 

 kets, and we look for frequent fluctuations, the 

 ultimate chance being more in favour of a farther 

 advance than otherwise. Reports as to the grow- 

 ing crop in Europe are generally favourable, but 

 there have been complaints of drought in Spain 

 and Sicily, and the absence of snow in America 

 has seriously thinned the wheat in many localities. 

 In North Africa the corn looks fine, barley harvest 

 being on the eve of commencement, and wheat was 

 expected to be ready in June. Prices abroad have 

 been more steady than expected, the near ports and 

 Baltic having only fluctuated moderately, according 

 to the tenor of advices from this country. The re- 

 sumption of the shding scale in France has arisen 

 from the sudden termination of the discussions on 

 the corn trade, occasioned by the outbreak of the 

 war ; and as the export duties are moderate, and 

 the import duties are high, when prices are low, as 

 at prts-ont, we should not be at all surprised to see 

 this law again suspended should there be large ex- 

 ports to this country. The following statement 

 shows the last foreign quotations. 



At Paris the ^best wheat was worth about 42s. 

 per qr. ; at Amiens, 43s. 6d. per qr. At Antwerp 

 French wheat was worth 46s., and native 50s. 6d. 

 per qr. Red quality at Groningen 47s., white 4Ss. 

 per qr. The price at Louvain was 47s. for 64lb. 

 wheat. The top quotation at Rotterdam was 49s. 

 Cd. perqr. 6llb. to G2lb. wheat at Hambro' was 

 53s. Gd. per qr. ; white mixed Pohsh 54s. 6d. per 

 qr. The best high-mixed at Danzig was worth 

 about 58s. per qr. At Konigsberg and Berlin the 

 value was about 49s. per qr. At Genoa, notwith- 

 standing the presence of the armies, the price was 

 only quoted 44s. per qr. After a previous dulness 

 at Odessa, there had been extensive transactions, 

 prices" ranging from about 31s. to 40s. per qr. At 

 Azoft' the quotation was 38s. per qr. The French 

 colonies in Africa were very short in stock, Algiers 

 and Oran quoting 57s. to 58s. per qr. for hard 

 wheat. Flour at Santander was worth about 42s. 

 per sack. At New York, after some dulness occa- 



