THE FARMER'S MAGAZINE. 



171 



ANNUAL REPORT OF THE LINSEED AND OILCAKE TRADE. 



Sir, — The recurreuce of a new year affords us tbe plea- 

 sure to furnish you with our annual retrospect of prices 

 and statistical accounts of imports, &c. ; and in doing so 

 we must again call your attention to the increased cou- 

 sumptiou of seed : notwithstanding a continuous large 

 supply, the demand throughout the year has been in ad- 

 vance of it, and had the trade but been a little more re- 

 munerative to the crusher, so extensive is the mill power 

 now in existence, we should have had even a larger con- 

 sumption than tlie following figures show. Early in the 

 year the prospects of business were encouraging, but the 

 subsequent rise in prices not being accompanied in the 

 same ratio by a corresponding advance in cake and oil, the 

 trade has of late been of a very restricted character. The 

 prospects for the remainder of the season, namely, ample 

 supplies of seed, and probable large demand for cakes, 

 lead us to hope we shall yet have to record a remunerative 

 year for the manufacturers as well as importers. 



Linseed. — At the beginning of last year. Black Sea seed 

 was 40s., and for the first six or seven weeks it scarcely 

 varied sixpence per quarter. Crushers being pretty full of 

 seed were not driven iuto the market to purchase ; but, on 

 the other hand, the cake trude was so good that stocks were 

 well kept up in anticipation of the supply proving inade- 

 quate as the season progressed. Towards the beginning of 

 Slarch a rise took place to 50s., which was increased to 51s. 

 as the month advanced, and was attributable partly to the 

 north-east wind retarding supplies, and also to a Continental 

 demand ; this demand continued during the spring months, 

 and assisted in keeping prices unusually steady, until the 

 altered state of corn markets later on altogether changed 

 the aspect of fhe market. In April large arrivals reduced 

 the value lo 49s. ("with an occasional sale at even less), but 

 exceptional purchases for America at this time, together 

 with a heavy speculative demand, on French account, for 

 oil, for future deliveries, enhanced the value to 50s. 6d. 

 During May, however, renewed heavy importations, and a 

 change to brilliant weather, reduced the value to the lowest 

 point of the year, namely, 4f^s. Some three or four months 

 previously, purchases of Black Sea for summer shipment 

 had been made at 48s., which were continued at intervals 

 on the same terms, to Is. more ; the Greek houses being 

 anxious sellers, but crushers, as the rule, unwiliing buyers, 

 and the business done, therefore, was chiefly for exporters' 

 and speculators' account f the latter including several mer- 

 chants usually importers from Russia), With June we had 

 bad weather, and indications of the coming change in the 

 corn market, and spot seed advanced to 50s., future de- 

 liveries selling at 51s. July was a flat month, and 49s. 

 again quoted ; but during August those crushers who had 

 until then withlield altogether from buying, became desirous 

 partially to supply themselves, and an almost immediate 

 rise occurred, 53s. being quoted for ready seed, and 54s. 

 paid for seed then shipping. During September a further 

 advance was established, and 55s. current value at the end 

 of the month; and in the then state of the weather also, 

 and prospects of harvest, consumers who had neglected to 

 provide their season's requirements getting very anxious, 

 and taking such cargoes as offered at daily enhanced rates. 

 In October 56s. was given, and an additional Is. for late 

 shipments, and the increased value of, and large demand 

 for cakes improved the price to 58s. during November : 

 speculators still giving an extra Is. for distant deliveries. 

 During all last month we were very flat at 57s., but 

 stocks are evidently running short again, for to-day an 

 advance of Is. per quarter over that price would be readily 

 obtainable. 



Our foregoing quotations, as you will have observed, are 

 for Black Sea seed, which quality probably serves best to 

 mark the various fluctuations in price : it is not, however, 

 so good a test of the market as it was, for it continues to 

 come so much mixed, crushers cannot now use it by itself, 

 and it has occasionally, in consequence, borne a relatively 

 low value to other descriptions. Morshansky having sold 

 at Is. to Is. Cd. ; Calcutta, 2s. to 3s. ; and Bombay at 4s. to 

 Os. per quarter liiglier ; whereas, a few years since, tbe 



former would not fetch within Is, or 2s. of Odessa or Azov 

 seed, and Calcutta (which was then clean also), and Bom- 

 bay, generally sold at equal rates: the shorter yield of 

 oil in the Black Sea, compared to East India, being 

 compensated by the extra weight in the seed of the former 

 description. 



Exporters have taken an unusual proportion of cargoes 

 calling fur orders, as will be observed by reference to the 

 particulars: the tone of our markets has in consequence 

 been greatly influenced by those of the Continent — in fact, 

 more so the past year (and particularly during the summer) 

 than in any previous one : late in the autumn, however, we 

 v/ere relatively higher than abroad, and several floating 

 cargoes, originally purchased[for foreign account, have been 

 resold and ordered here to discharge. 



It must be borne in mind, that although our import in 

 the aggregate is about the same as 1859, the last three 

 months show a considerable deficiency, and stocks are 

 lighter than usual at this season, both in granary and in 

 crusher's hands ; but, to set against this, we have a larger 

 quantity afloat, affording the prospect of full supplies for 

 the remainder of this season. 



The usual contradictory reports are given ns to the last 

 harvest in Russia, that it is quite impossible to form any 

 just estimate of what the supplies may turn out to be : it 

 seems certain that it is not practicable, over such a vast 

 district, to get reliable accounts; but, as in the present day, 

 with the greater facilities of communication, the tendency 

 of production must be to increase, we see no reason (al- 

 though the annual cry of short crops is again raised), why 

 we should not have equal, or, perhaps, greater supplies than 

 in previous years. AVe are glad to say all accounts agree 

 in reporting a superior growth, as to quality, both from the 

 north and south of Russia. A few cargoes of Azov seed 

 for early spring shipment changed hands a short time ago 

 at 55s. to 549., but the transactions were very limited — the 

 free on board price for that period, not leaving enough mar- 

 gin for sellers, and the prospects of the trade on this side 

 equally deterring buyers from entering into contracts for 

 such distant deliveries. 



The East Indies also (particularly the Bombay dis- 

 trict), promises a large quantity, and of the ordinary fine 

 description. 



We have nothing new to remark in respect of the seed 

 imported, the characters of the different descriptions are 

 quite unchanged, and we should simply have to repeat 

 what we have written in every circular for the last three 

 or four years. 



Our stocks in public warehouses here are nil, that is to 

 say, do not exceed 5,000 quarters altogether. At Liverpool 

 they are also nil. At Hull they are 95,000 quarters, viz., 

 about 55,000 quarters in granary, and 40,000 quarters in 

 the mills, or on board ship in the docks. Afloat, we have 

 a total of 430,000 quarters; namely, 200,000 quarters Black 

 Sea, (fee; 145,000 quarters Calcutta; 55,000 quarters Bom- 

 bay ; 30,000 quarters Alexandria, Lower Baltic and sun- 

 dries. The East Indies also, notwithstanding the high 

 cost, is likely to furnish us with further large quantities 

 during the spring, so that we shall have an import for the 

 season greatly in excess of any previous one. 



Subjoined are the respective annual official returns of the 

 aggregate imports into the United Kingdom : 



Qrs. Qrs. 



1841 363,4(31 1851 630,471 



1842 367,700 1852 799,402 



1843 470,539 1853 1,035,3.35 



1844 616,947 1854 828,613 



1845 056,793 18-55 756,950 



1846 , 506,141 1856 1,180,179 



1847 4.39,512 1857 1,051113 



1848 799,650 1858 1,017,844 



1849 626,495 1859 1,270,911 



1860 ...... 008,984 1860 about the 



same. 

 The port of London shows a decrease of about 50,000 qrs,; 



