424 



The Corn Markets in July. [august, 



where, some day labourers were in irregular employment on account of 

 wet weather, which hindered the hay harvest. The demand for such 

 men for haymaking, hoeing roots, &c, was fairly good, and but few 

 men (if any) were unable to obtain work when the weather was favour- 

 able. Some scarcity of men for permanent situations was reported from 

 certain districts in Somerset, Herefordshire, Gloucestershire and Devon.. 



THE CORN MARKETS IN JULY. 

 C. Kains- Jackson. 



The wheat markets were already advancing under the influence of 

 unsummerlike weather when the American Bureau Report of July 

 nth came to hand and supported a strong speculative movement. Con- 

 siderable scarcity of fine spring wheat is now apprehended, and holders 

 of that type stand out for what, as compared with June quotations, are 

 high prices. Neither barley nor oats are appreciably dearer, and maize 

 is rather in buyers' favour, especially for autumn delivery. 



Wheat. — The London average for the week ending July 5th was 

 315. 1 id., and for the week ending 26th was 335. n<i. per qr. This 

 advance is a fair measure of price improvement all over the country. 

 In Kent 355.-365. is an average, but in the north 325.-335. is more 

 usual. The sales of home-grown grain at Mark Lane have been good 

 for the time of year. Imported wheat has risen by sixpences till 445. 

 has been reached for the finest produce of the Dominion, and 435. 6d . 

 for the best grain from the U.S. States bordering on the Canadian 

 frontier. The belt of wheat-growing land, which has a width of about 

 200 miles, a hundred on either side of the frontier line, now produces 

 the grain for which top prices are permanently obtainable. This wheat 

 has unique merit for producing a showy loaf. Russia has large areas 

 capable of growing wheat, almost, if not quite, as rich in dry gluten, but 

 Russian shipments are, on the average, far from clean, and there is ,not 

 the trustworthy grading which has done so much to secure a steady 

 market for Canadian and American produce. Other sorts of imported 

 wheat closed July at from 385. to 425. per qr. ; Argentine, Indian white, 

 and Australian made 395. to 405. ; Durum and Indian red, 385. to 

 385. 6d. per qr. The price of new American winter wheat for August j 

 shipment to London was 75. 6d. to 75. jd. per cental (365. to 365. 6d, 

 per 480 lb). 



Shipments for July were 428,000 qrs. from North America; 552,000 j 

 qrs. from South America; 2,130,000 qrs. from Russia; 224,000 qrs. from j 

 Europe S.E. ; 874,000 qrs. from India; and 169,000 qrs. from Aus- j 

 tralasia. The Russian and Indian shipments were in excess of anticipa- 

 tions ; those from the other countries somewhat less than usual. Owing 

 to the grave reduction in crop prospects in North America, the idea | 

 that the approaching cereal year will have a large wheat surplus is no 

 longer entertained. Market opinion, however, is unanimous that very j 

 fine, possibly record, crops have been secured in Austria-Hungary, in 

 Roumania, and in Europe S.E. generally. The wheat supply on passage 

 has fallen on the month from 2,900,000 qrs. to 2,550,000 qrs. Of this, 



