62 



rORErG5^ MARKETS. 



Wheat. — The weather in the wheat-growing regions of Europe 

 threatened a winter of a fluctuating and injurious character, but it sub- 

 sequently developed a tendency to severe cold. This, however, has been 

 partially moderated, and the weather, though seasonable, has not been 

 extreme. A very considerable rainfall has ameliorated the autumnal 

 drought, giving more promise to the growing crops. The wheat region 

 around Odessa had suffered to such an extent that all hopes of a fair 

 crop had been surrendered, but subsequently the rain fell copiously, 

 followed by snow. Yet this favorable change, prognostica'ting a good 

 yield, did not induce holders of grain to sell, but rather to hold on till 

 spring, in hope of better rates. British farmers, generally with good 

 fall sowings, were inclined to take the same view of the situation and 

 to act accordingly. These facts have checked the downward tendency 

 of the wheat market, and had, by the middle of December, produced a 

 slight re-action, which, however, has not shown a very permanent char- 

 acter, though the confidence in better prices seems to be buoyant in 

 many quarters, especially in Odessa. In Holland and some parts of 

 Germany the markets were at once active and steady, but in Belgium 

 and France there was a tendency to inaction. 



During the second week in December, the sales of English wheat, 

 noted by the Mark Lane Express, amounted to 64,783 quarters, at 44:S. Sd., 

 against 62,380 quarters, at 61.s'. dd, during the corresponding week of 

 1873. The London averages were 46s. 4f?., on 2,998 quarters. The week 

 opened on a moderate supi)ly of English wheat, with reduced foreign 

 arrivals, almost all from America. There was moderate inquiry, and 

 transactions fully equaled the prices of the previous week. In Mark 

 Lane, London, Essex, and Kent, white brought from 45s. to 50s. per 

 quarter ; ditto, red, 42s. to 46s.; Norfolk, Lincolnshire, and Yorkshire, 

 red, 42s. to 46.; Dautzic, mixed, 50s. to 58s.; Konigsberg, 47s. to 57s.j 

 Rostock, 47s. to 50s.; Silesian, red, 46s. to 48s.; ditto, white, 49s. to 51s.; 

 Pomeranian, Mecklenberg, and Uckermark, 45s. to 49s.; Ghirka, 42s. to 

 43s.; Russian, hard, 40s. to 44s.; Saxouska, 45s. to 47s.; Danish and 

 Holstein, red, 41s. to 51s.; American, 42s. to 46s.; Chilian, white, 51s.; 

 Californiau, 52s.; Australian, 52s. to 55s. In Liverpool, Canadian, white, 

 is quoted at 9s. 10^. to 10s. 4ti.; American, white, 9s. lOd. to 10s. M.', 

 ditto, red winter, 9s. 5d. to 9s. lOd.-, No. 1, spring, 9s. 2d. to 9s. 9d.; No. 

 2, si)ring, 8s. 8d. to 8s. 6d; average Saidi, 8s. 3d. to 8s. 6d.; California, 

 average, 9s. lOd. to 10s. 3d.', Oregon, 10s. 6d. to 10s. Sd.; Chilian, 9s. 3d. 

 to 9s. Gd. In Paris the trade was calm, with unchanged prices. White 

 brought 42s. 6d. to 47s. per quarter; red, 41s. to 45s. 6^., the market 

 closing heavily. The French country markets showed a disposition to 

 recede. The heavy rains had rendered the roads in Algeria unfit for 

 transportation, hence the supplies were short. The Baltic, being frozen 

 in a large portion of its surface, had stopped the movement from Rus- 

 sia to the western markets, except by rail. The general tone of the 

 market was against sellers. 



Flour. — The recent rains upon the European continent had raised 

 the streams, and again set in motion the mills which had stopped run- 

 ning, especially in France. This caused a sudden increase in the sup- 

 plies of flour, which caused some stagnation in the market. There was 

 at the opening of the second week in December, in Mark Lane, a good 

 supply of country flour, with a fair amount of foreign arrivals, mostly 

 American, in barrels. An increased demand had stiffened up prices, 



