1 9i 2.] The Corn Markets in December. 



88 1 



the supply on passage on the 30th was 138,000 sacks, against 252,000 

 and 258,000 at the end of the years 19 10 and 1909. There was decided 

 firmness in flour as 191 1 passed away, but the small sale of bread 

 during the mild weather told on bakers' inquiry, and made stores a 

 little difficult to move. Fortunately for their holders they are in very 

 moderate compass. 



Barley. — Some remarkably high averages have been recorded at 

 different markets, mostly in counties facing the North Sea, and par- 

 ticularly in Kent. The mean price of barley for the whole kingdom 

 has been satisfactory, and so large a proportion of the new English 

 has graded 432 to 448 lb. that the 400 lb. sorts of foreign have met 

 with a specially brisk inquiry. Value for Russian advanced before 

 Christmas to 26s. per qr., and just before the month closed 26s. 3d. 

 was paid. The demand for Indian barley was good, 26s. to 275. being 

 offered. 



Barley shipments were 15,000 qr. from California, 1,694,000 qr. 

 from Russia, 572,000 qr. from Europe S.E., and 50,000 qr. from India. 

 The supply on passage on the 30th was 340,000 qr., a good deal 

 below the average. Russia and Europe S.E. combined shipped from 

 August 1st to December 30th about the same total as in the like period 

 of 19 10, but an increased Continental demand has reduced the quantity 

 for which English bills of lading are held. 



Oats.— Rather slow trade combined with advancing prices has 

 constituted a somewhat unusual combination. The shipments of the 

 month were 648,000 qr. from Russia, and 170,000 qr. from Europe 

 S.E., but the practical cessation of shipments from the New World 

 and the failure of Australasia, South Africa, and Scandinavia as sources 

 of supply caused the total on passage to shrink to a small figure. 

 Russian oats at 19s. , La Plata at 19s. 6d., and fine Canadian at 

 22s. 6d. were, as December closed, decidedly expensive articles on 

 their feeding value. Argentina was offering to ship new crop direct 

 to London at 165. yd. cost, freight, and insurance, but these supplies 

 will not be with us in any quantity before February. 



Maize. — Business was very much in holders' favour just before 

 Christmas, and the report by the International Agricultural Institute of 

 a io'5 per cent, falling off in world production, which was issued on the 

 28th, caused many merchants to ask 315. 6d. per qr. for their stores. 

 America meanwhile is. hurrying to get the good prices ruling, and is 

 offering to ship new crop, cost freight and insurance, at 295. per qr. 

 direct to English ports. The price is for steamers to start within a 

 week of order. For February delivery 275. to 28s. is bid, and 275. 

 for March. Meanwhile a speculative trade with Buenos Ayres has 

 sprung up, and the new La Plata crop, which will not be dry and fit 

 to ship before the end of May, is offered for June export at 255. to 

 255. 3d. per qr. Maize looks like being a very speculative market for 

 at least the first half of the year on which we have entered. 



Shipments in December were 223,000 qr. from North America, 

 273,000 from Russia, and 1,082,000 from Europe S.E. This last is 

 a very remarkable total. South America having shipped no maize 

 in December, 191 1, figures are already complete, and verified at 586,000 

 qr. There were on December 30th 345,000 qr. of maize on passage 

 to the United Kingdom, against totals of from 400,000 to 860,000 qr. at 

 previous years' ends since the new century. 



