686 



The Corn Markets in October. 



[NOV., 



British wheat this season are much below those of the like period 

 last year. 



Imported wheat has been in varying request, and different sorts 

 have had their "day" at most markets. Old Manitoba was quickly 

 absorbed, and there was a pause in that branch of business till towards 

 the close of the month, when the new crop began to arrive. It varies 

 a little with the port of offering, but may be quoted at 41s., 40s., 

 2,9s., and 38s. for the four milling grades. As the fourth compares 

 with fair average quality English it will be seen that the Dominion is 

 not depressing 335. 2d. English. The American new crop of winter 

 wheat is arriving at last in fair quantity, but 375. to 385. per qr. is as 

 a rule obtainable, and the weak spots of October trade have rather to 

 be sought in Russian and Indian arrivals. The former closed with 

 a better feeling, despite the crop news, cargoes for November shipment 

 being held at 415. bd. for finest 492 lb. Winter, 395. 6d. for Odessa 

 Ghirka, 385. 6d. for Sea of Azoff hard red. This gives a mean of 

 395. lod. Indian wheat harvested in a beautiful climate and shipped 

 promptly escapes weevil, which in later exports is apt to assert itself. 

 This season, however, the pest is less in evidence than usual. The 

 seven sorts offered at Mark Lane on October 29th made 415. 6d. for 

 White Bombay, 415. 3d. for White Delhi, 415. 3d. for No. 2 White 

 Calcutta, 405. 6d. for Soft Red Calcutta, 405. 6d. for Central Indian 

 mixed, 405. 3d , for White Jubbulpore, and a like price for ordinary 

 Red Kurrachee. A fair sale of Australian at 435. to 44s. was reported ; 

 but New Zealand at 385. to 395., Durum at 36s. 6d. to 385., and Turkish 

 at 375. to 375. 6d. were in less favour. 



The shipments of October included the enormous quantity of four 

 million quarters of Russian wheat, or virtually double the September 

 exportation. Nevertheless, on the 31st there were only 400,000 qrs. on 

 passage to the United Kingdom, the Continent having undertaken to 

 receive, or actually received, the remainder. North America shipped 

 1,400,000 qrs. of wheat and 727,000 sacks of flour, these figures includ- 

 ing the first new crop shipments of Canada. The total is not large 

 for the central period of autumnal exports. South America shipped 

 50,000 qrs. of wheat, Roumania 357,000 qrs., India 135,000 qrs., and 

 Australasia 83,000 qrs. On the first day of the month 1,600,000 qrs. 

 were on passage, and on the last day 1,355,000 qrs., so that the 

 situation for spot holders was gradually improving as .the month 

 proceeded. 



Flour. — The October trade in London with American, Hungarian 

 and Belgian types has been done at practically the same prices as 

 prevailed at the close of September. A certain depression in tone has, 

 however, been manifested, owing to the large offers of country flour 

 made in too many cases from wheat none too fit for the purpose. There 

 have been patents which fetched over 305., all-English straight-run 

 which realised 29s., and roller whites which had buyers at 285. But 

 there have been sales at 3s. under these prices ; so much has depended 

 on selection of sample even within one type. Some excellent flour from 

 the Canadian mills was offered at 335. to 345. per sack. Owing to the 

 liberal shipments from America the quantity on passage rose during the 

 month from 180,000 to 284,000 sacks. 



