186 



THE FARMER'S MAGAZINE. 



REVIEW OF THE CORN TRADE 



DURING THE PAST MONTH. 



The commencement of the month brought a 

 renewal of frost, which continued with severity for 

 three weeks. During this time scarcely anything 

 could be done except carting manure and thrashing. 

 It was fair to expect that this fine opportunity 

 would greatly improve the condition of the wheat 

 and raise its value. There was indeed some im- 

 provement early in the month, and larger deliveries 

 took place ; but the return of mild and humid 

 weather more than counterbalanced the beneficial 

 eflfects of the frost, and much that has come to 

 market has been unsaleable. Such a state of 

 things following upon the previous stagnation in 

 business, occasioned partly by the severe weather 

 and partly by the high rate of interest, naturally 

 produced some decline in prices. Even the best 

 new, being but indifferent, has given way 2s. to 3s. 

 per qr., and secondary foreign has declined Is. to 

 2s. per qr. The general averages, however, being 

 about a fortnight behind the real business done, 

 show an improvement from 54s. to 57s. 3d., 

 farmers having doubtless found it useless to send 

 any but their best samples to market, though even 

 these fell short of millers' requirements. A large 

 fleet expected from the Mediterranean, with perhaps 

 four hundred cargoes of wheat, has kept millers 

 upon the reserve, but the first instalment has made 

 as yet little change. The depression may last, 

 however, for some little time ; but as America and 

 the Baltic are still closed, and dry wheat in very 

 large quantities must be wanted, we expect an im- 

 provement in March if not earlier. Beyond the 

 necessities of a largely-increased consumption, the 

 pohtical horizon, both in the old and new world, 

 is so beclouded that peace is threatened, and though 

 England should keep from the embroilment, the 

 value of corn is very likely to increase, and with 

 only half the land sown with wheat, and the rest 

 mostly sodden and foul, without a fine and dry 

 spring the prospect of a good harvest is distant. 

 Should the weather again be rough therefore, a 

 smart reaction is highly probable, as we can by no 

 means be certain of a second year of plenty in 

 America, and the outbreak of war there might stop 

 the yet-remaining half of our expected supplies. A 

 war between Denmark and Prussia would be equally 

 threatening in the Baltic. Italy, already in want, 

 may also intercept supplies from the Black Sea and 

 Egypt, and then if thrown upon our own poor crop 

 we should find out our real situation. Let us, how- 

 ever, hope for the best— that the season already 

 changed may be permanently fine, and that the 

 " dogs of war," instead of being let slip by the 

 demon of mischief, will be held in check by means 

 of a pacific and masterly diplomacy. 



The following shows the prices quoted in several 

 corn-producing countries, but the time of year has 

 everywhere made business limited and rates almost 

 nominal. The best wheat at Paria was quoted 



57s. 6d,, and at Bordeaux 59s. 6d. The duty 

 being ra,ised at Nantes by the sliding scale, no 

 shipments were making there. The price at 

 Louvain was 60s. In Holland the rates were 

 above our own,"viz., 73s. to 74s., for the best high- 

 mixed Danzig, though for inferior native only 48s. 

 was quoted. Fine red at Hambro' was quoted 58s. 

 to GOs. 6d. Cologne prices were 54s. to 55s. per 

 qr. Prices at Odessa were about 40s. to 48s. 

 Soft inferior wheat at Galatz 33s. 6d. ; at Con- 

 stantinople 38s. 6d. In Spain, the northern and 

 southern markets greatly varied ; Santander, the 

 only eligible shipping port, quoted 59s. 6d. The 

 quotation at Seville was about 66s. Soft wheat 

 was scarce at Algiers, and quoted 5Ss. 6d. per qr. 

 Fall wheat at Hamilton in Canada 37s. 6d. per 

 480lbs.; red States at New York 45s. 8d. ; white 

 Michigan 47s. 4d., prime to 53s. 4d. per 480lbs. ; 

 Chicago spring 39s. 8d. The quantity on hand 

 available for export was considered to be about 

 300,000 qrs., with 580,000 barrels flour. The 

 stock in London may be about 500,000 qrs. wheat, 

 170,000 barrels flour. 



The imports into the kingdom last year were 

 5,906,175 qrs. wheat, and 5,139,248 cwts. flour, the 

 greater portion being during the last four months. 

 In London alone the increase of the last quarter 

 over that of 1859 was equal to 348,433 qrs. 

 wheat. 



The first Monday in Mark-Lane opened on the 

 back of short supplies of wheat both English and 

 foreign. There were very few additional samples 

 from Essex and Kent during the morning, but the 

 return of severe frost having again interrupted 

 navigation, business was limited to needy buyers, 

 who had to pay full prices for the few good parcels 

 of English that were accessible. Foreign also 

 was less in demand from the absence of country 

 buyers, but prices were firm for everything in 

 granary. The condition of the samples shown 

 this week in the country was improved, but the 

 quantity being larger trade generally was inactive, 

 though some places, as Sheffield, Worksop, and 

 Market-Rasen, were rather higher. The stoppage 

 of trade influenced the first Liverpool market to 

 a decline of id, to 2d. per cental, and on Friday 

 the fall was still increased, being another 2d. per 

 lOOlbs. In Ireland and Scotland there was dul- 

 ness without change. 



The second market was shortly supplied with 

 foreign and home-grown samples. The morning's 

 display from the near countries was also limited, 

 but business being equally so, no change took 

 place in the rates of either English or foreign 

 samples. The report of dulness in town this week, 

 and the better supplies in the country, brought a 

 rather lower range of prices. Stockton-on-Tees, 

 Spalding, and Gloucester were Is. to 2s. per qr. 

 cheaper, and Hull gave way Is, per qr. for second 



