1909.] The Corn Markets in December. 



791 



it is probable that holders are doing well to meet the views of buyers 

 in this country. So fine is the milling quality of good Manitoba wheat 

 that as soon as the price is on the tempting side of forty shillings buying 

 becomes brisk. The value of other foreign sorts of wheat at the end of 

 December was 40s. to 41s. for Australian, 385. to 425. for Russian, 

 39s. to 415. for Indian, and 395. to 405. for Pacific. The Australian and 

 Californian supplies will be seen to have a close correspondence, both of 

 value in comparison with one another, and also within the staple, so to 

 speak. The Russian quotations are very different, fully 4s. range being 

 disclosed. Russia continues to suffer severe money losses through the 

 slovenly manner in which a large proportion of shipments is made. At 

 the beginning the buyer suffers, but in the long run the seller, for the 

 price bid comes to include a very generous margin for the faults of the 

 consignor. It may be remarked that the promise of the growing wheal 

 in India is deemed sufficient to warrant the offer to ship in May at 37s. 

 per 492 lb. 



Flour. — Remark has already been made of the official rise in London 

 of millers' quotations at the very end of the month. Cash terms at the 

 end of December were 325. for Town Whites, and 295. for Town House- 

 holds. These are the two main sorts of flour made in London. A 

 West End loaf contains, as bakers affirm, more Town Whites than an 

 East End loaf. This much may be allowed. In the absence of law or 

 standard, hardly anything further can be said, but the good suburban 

 loaf, that of the respectable residential outskirts of London, probably 

 is a fair mixture of the two types. London also produces a Top Grade 

 now at 335. to 345.; " Special Whites," which closed the year at 315. 

 for cash; " Extras," which made 305.; and No. 2, which were quoted 

 at 275. 6d., and represent the lowest grade blended in a quality loaf. 

 Country flour all through December poured into London to an extent 

 which caused London millers some anxiety. London is now able to 

 provide from the work in its own mills all the flour needed for its five 

 million inhabitants. As the country sends up freely, and as flour comes 

 in from abroad, so will depression result. On the other hand, the 

 population is increasing for this same area at the rate of a thousand 

 weekly, and the London mills have, therefore, only to hold their own 

 for a moderate time, and the situation will rectify itself. Country flour 

 at the end of the old year was offered in London at 275. per sack for a 

 good mixture of half English and half imported (Kansas or like winter 

 wheat grade). For all-English straights 26s. was accepted. American 

 flour was making 325. for Minneapolis best, and the same price for the 

 prime produce of the Canadian towns, Winnipeg, &c. Kansas flour 

 touched 305., but was for the most ranging from 285. to 29s. Common 

 but serviceable American of better nutritive value than colour made 

 26s. per sack. The demand for whole meal is good, 295. per sack being 

 paid. Rye flour costs 21s. to 22s. per sack for the best, and is worthy 

 of attention. 



Barley. — The average price of English barley for December showed 

 a slight decline from November, but was practically unchanged from a 

 year previously. The local averages have shown some strange varia- 

 tions, but the very great range in intrinsic quality, from the best malting 

 worth 405. per 448 lb., to the commonest feeding, offered at 245. per 

 400 lb., is ample to account for all such differences, even when it is re- 

 membered that the official returns reduce all barley sales to a uniform 



