1910.] The Corn Markets in July. 425 



less than 200,000 qrs, is hard spring wheat, so that the exceptional 

 prices made for that particular type as July closed are easily explained. 



Flour. — The London top-price has been raised to 355., a florin 

 advance on the month, in close correspondence with the florin rise in 

 British wheat from the 5th to 26th at Mark Lane. Household flour is 

 35. dearer, 295. 6d. being paid, where a month before 265. 6d. had been 

 quoted. London bakers on the 18th put bread up a halfpenny per 

 quartern loaf, but prices in the country are very irregular. There is so 

 little foreign flour on passage that most spot-holders are able to ask 

 an important advance : 335. 6d. for finest Manitoba, 285. for Iron Duke. 

 Owing to the contracts for autumn shipment, however, Hungarian is 

 not dearer. The North American shipments for July were only 226,000 

 sacks, the smallest monthly exportation for a very considerable period. 



Barley. — Most markets seem to expect about an average home crop, 

 and there are hopes of better quality -than last year. A satisfactory 

 crop is reported to London agents from the famed malting barley 

 districts of Bavaria, Bohemia, and Moravia, also from the Ouchak barley 

 regions of Anatolia. Less satisfactory reports from France, Bulgaria, 

 and California have reached Mark Lane, and made the holders of stock 

 in granary firm. Light Russian barley has been the only sort in much 

 sale during July. It has made 195. to 205. per qr. Russia's shipments 

 for the export year ended July 31st were 19,870,000 qrs., against 

 17,299,000 qrs. in the previous season. An average exportation is about 

 fifteen millions. During July 1,525,000 qrs. were shipped by Russia, 

 150,000 by Europe S.E., and 42,000 by California. The quantity on 

 passage on the last day of the month was 200,000 qrs. only. 



Oats. — The oats of 1909 growth, seasoned, dry, and fit for horses, 

 have of late been cheap at 185. to 195. in the shires. London, which 

 attracts the pick of the oats, has been paying igs. to 20s. for 312 lb, 

 lots, 215. to 22s. for 336 lb. kinds. Foreign oats have not been a brisk 

 sale; 14s. to 145. 6d. for Argentine, 155. to 15s. 6d. for Baltic, 16s. to 

 16s. 6d. for White Sea have been about the prices required by importers. 

 Shipments for the month were 151,000 qrs. from North America, 177,000 

 from South America, 529,000 from Russia, and 34,000 from Europe 

 S.E. The quantity on passage on the last day of the month was 

 300,000 qrs. Russia during the export year ended July 31st shipped 

 9,628,000 qrs., against 6,018,000 qrs. in the previous twelve months. 

 About five million quarters constitute an average exportation. 



Maize. — The prospect of abundant supplies in 19 11 appears to be 

 accepted by the markets as one that only a combination of remarkable 

 weather accidents can falsify. But the expectation of large arrivals in 

 the last four months of 1910 is slight, and the trade is depending almost' 

 exclusively on a single shipper, Argentina. It is impossible to say 

 what prices are likely to rule between now and the time when the crops 

 to be secured in October get into motion. The use of maize in this 

 country is always large, and since January 1st we are, as compared 

 with last season, a clear million quarters short in our supply. At 255. 

 per qr. it cannot be said that maize is dear, so that the non-speculative 

 buyer will probably take the opportunity to build up his stock at this 

 price. There are 900,000 qrs. on passage, which should furnish a 

 liberal supply in a few weeks. July shipments were 83,000 qrs. from 



