1909.] The Corn Markets in October. 685 



THE CORN MARKETS IN OCTOBER. 

 C. Kains-Jackson. 



Threshings of the home crop of wheat have rapidly increased during 

 October, while importation has also been liberal. No special trade in 

 oats has been done, but maize has recovered favour, and in the last 

 few days of the month sales were quite active. The semi-official estim- 

 ates of Russian crops, published on the 22nd, were extremely optimistic, 

 and exerted some depressing influence on the prices of wheat, barley, 

 and oats. But before the month closed confidence seemed in the way of 

 re-establishing itself, owing to the belief that the vigorous Continental 

 inquiry in September and October had already cleared off substan- 

 tial portions of the Russian surpluses. The brisk sales of Russian grain 

 to German, Austrian, Italian, and other buyers have relieved the current 

 situation, but such sales are likely to throw American surpluses to a 

 greater extent upon the British market, the Continent buying freely of 

 the New World when Russia has only a small surplus of cereals, but 

 giving Russia the preference when its grain is promptly forthcoming. 



Wheat. — British produce during October had a remarkably wide 

 range ; 285. to 295. was accepted for weather-injured samples, fit only 

 for poultry use, and some of the markets recorded averages not indica- 

 tive of any material deliveries of milling corn. Among these we may 

 note for the week ending 23rd, Berwick 285. lid., Doncaster 295. yd., 

 and Nottingham 295. 2d. per qr. In Lincolnshire and the Fenlands 

 305. to 3 is. ruled. While these prices were the recorded values for 

 new and damp grain, London was witnessing bids of 44s. for fine 1908 

 seed wheat, and 405. for the best new of ordinary growth for the mill. 

 Wheat grown for seed was fetching in later October 445. to 505. for 

 Squarehead Master, 405. to 445. for New Red Standard, 38s. 6d. to 405. 

 for Browick, 365. to 385. for Gray Browick, 425. to 445. for White 

 Wilhelmina, 465. to 485. for Red Canadian (English-grown), 455. to 

 475. for French Treasure, and for the Red Marvel. These were prices 

 asked by farmers ; the special care and selective ability of the leading 

 seedsmen demanded a higher price, which varied from 56s. to 845. per 

 quarter, the higher sum commanding, of course, the latest and most 

 fancied varieties. 



At the Dorchester show on the 16th, some excellent new wheat was 

 exhibited which was secured in the south in that fine August fortnight 

 preceding the 17th of that month, a date from which good harvesting 

 weather was not again at all continuous till September i3th-27th, or 

 thereabouts. It appears from the October markets that the great prepon- 

 derance of presentable samples came from wheat secured either from 

 August 3rd to 16th, or from September 13th to 17th. Thus early ripen- 

 ing and late ripening districts fared better than the middle region, and 

 this may account for the very unsatisfactory threshings and resultant 

 low averages in such counties as Notts, Lincoln, and Norfolk. In the 

 eight weeks of the present cereal year 335. 2d. was averaged, as com- 

 pared with 3 is. 3d. last season; but in October, 1908, fairly dry and fit 

 wheat could be bought for 33s. to 34s., whereas during the past month 

 365. to 395. has been commanded by such samples. The total sales of 



