866 



The Corn Markets in December. [Jan., 



The price of foreign barley did not vary by more than 3d. for feeding 

 kinds, and there was next to no change in Californian Brewing. 

 Russian barley fell 6d. to gd. on the year at Mark Lane, gd. to is. at 

 Bristol; but the supplies on passage on 31st were only 165,000 qrs. of 

 this kind, and holders were confident that value at least would undergo 

 no further recession. There were 300,000 qrs. of 448 lb. Californian and 

 Pacific States barley on passage, also 63,000 qrs. Anatolian, mostly 

 barley for steeping, and of fair weight— 424 to 448 lb. to the quarter. 

 The shipments of December were 150,000 qrs. from California and 

 Oregon, 1,562,000 qrs. from Russia, 163,000 qrs; from "Europe, S.E.," 

 and 60,000 qrs. from Anatolia. 



Oats.— The average price made for British oats for the first four 

 months of the cereal year was about threepence higher than for the like 

 period of 1908-9. Seeing how unfit for prompt use have been most* of 

 the oats tendered since September, the maintenance of value during 

 December, even at 175. 3d. to 175. qd., is matter for congratulation. 

 Imports for the four months showed a great increase on the previous 

 season, but the surplus was restricted to one start, light Russian 304 lb. 

 oats. The Government returns as required by Statute are in quarters 

 of 312 lb., but buyers of Russian do not, of course, get a 312 lb. quality 

 if they buy by the 312 lb. The extra 8 lb. is made up to them; that is 

 all. American oats are so extremely light, often only 280 lb. to the 

 quarter, that they meet with little sale here. During 1909 there were 

 hardly any imports, for America does not appear to do any speculative 

 business in consigning this article on sale. The shipments of December 

 were 1,097,000 qrs. from Russia and 86,000 qrs. from "Europe, S.E." 

 On the 31st there were 300,000 qrs. on passage. Argentina was offering 

 to ship before the end of January, new oats at 145. 6d. per 304 lb., direct 

 to London. 



Maize.— Imports fell much below December requirements and the 

 market was hardening when the month closed. Interest, however, was 

 concentrated for the most part on the contracts with America to 

 ship new crop. These included 255. per 480 lb. for shipment before 

 January 15th, 245. gd. for shipment after that date. There were, how- 

 ever many shippers w r hose lowest price for any date was 255. 3d., and 

 with 255. 6d. paid at New York for spot delivery of the new corn, it 

 was clear that local demand would be served first. There were some 

 transactions in the new Argentine crop to be secured in March and 

 April, shipped in June. The price was 255. 6d. for fair average quality 

 direct to London. This glimpse of the future does not threaten spot 

 values, and 26s. per qr. looks as if it would rule for maize in 1910 as 

 a London average. The United States has a large crop, and may 

 "bear" the February and March markets, but the probability of this 

 occurring is not considered at the " Baltic " and "Atlantic " exchanges to 

 be appreciable. Shipments in December were 314,000 qrs. from North 

 America, 540,000 qrs. from South America, 205,000 qrs. from Russia, 

 259,000 qrs. from "Europe S.E.," 25,000 qrs. from Natal, and 10,000 qrs. 

 from Burma. There were 690,000 qrs. on passage on the last day of the 

 month. 



Pulse. — Chick peas and grain from India fetched 30s. to 31s. per 

 504 lb., and were in better request than supply. Indian production is so 

 large that some surprise is expressed at the small shipments. More 



