6oo The Corn Markets in September. [oct.,. 



fair bargain, and commanded a good retail sale. Australian wheat has 

 been in moderate request, the 435. made at the end of the month showing 

 about is. 6d. net decline. New Zealand wheat arrivals have not shown 

 the quality of some years, and hardly exceed a 405. quotation. Argen- 

 tine wheat is now getting scarce, but it had fallen from 445. to 425. 

 by the end of the month. The arrivals of Indian wheat have been 

 liberal and sustained. While the finest white sorts shipped at Bombay 

 have been commanding 41s. per 496 lb., the Calcutta shipments have 

 usually been on sale at a level 405., and Kurrachee wheat has 

 been obtainable for 395. per qr. These prices for imported wheat do not 

 depress home-grown grain, for the cheapest Kurrachee is about a 

 shilling dearer than the best samples of the English new harvest. 



The shipments of wheat for September were 970,000 qrs. from North 

 America, 110,000 qrs. from_ South America, 2,046,000 qrs. from Russia, 

 430,000 qrs. from Roumania, 150,000 qrs. from India, and 86,000 qrs. 

 from Australasia. The new crops of Russia and North America were 

 well in motion, Russian exports showing over a million quarters 

 increase on August. The Indian surplus, on the other hand, looks as 

 if it were becoming exhausted three months sooner than the trade had 

 anticipated. The drop from 880,000 qrs. shipped in August, to the very 

 moderate September total, is quite an event of the month. It should 

 be said that some good judges of market movements believe that India 

 has still a considerable surplus, but will not compete in selling it, with 

 the first rush of new Russian and American crop exports. As regards 

 total supplies of breadstuffs during September, it is generally agreed 

 that they were about half a million quarters in excess of requirements. 

 Stocks, however, on September 1st were much below the average, so 

 that the replenishment thus far accomplished is very moderate. Another 

 circumstance to be taken into account is that the supply on passage fell 

 during the month from 2,005,000 to 1,600,000 qrs. 



Flour. — Important changes have taken place in the prices asked 

 for flour. The confectionery trade welcomes a decline in Hungarian 

 from 525. to 495. per sack, and in London top-price grade the reduction 

 from 395. to 355. is even more marked. The price of Town Households 

 on the last day of the month was a level thirty shillings for cash, and at 

 this very moderate price a good retail trade was passing. The price of 

 country flour ranges from 285. to 315. for the chief types. American 

 flour, which at the end of August was quoted at 345. gd. for best 

 Minneapolis, 315. 9 d. for ordinary Minnesota First, and 295. 6d. for 

 Kansas ordinary, prompt shipment, was at the end of September obtain- 

 able on spot in London, Liverpool, and Glasgow for the same terms. 

 Australian was at 335., and there were various qualities from France 

 and Belgium offering at 26s. to 325. according to the character of the 

 sample. American shipments for September amounted to 442,000 sacks. 



Barley. — The average price of British barley for September was 

 265. 4<i., which was qd. above the mean value for September, 1908, and 

 15. 2d. advance from August. In the last week of the month 28s. 6d. 

 was averaged at Canterbury, 285. 4J. at Nottingham, and 285. to 

 28s. 3d. at several markets. Home-grown barley, therefore, cannot be 

 said to have participated in the general weakness of the September 

 markets. Cheap feeding barley from Russia has been in a different 



