1910.] The Corn Markets in August. 513 



of the new crops encouraged growers to hold their stocks, while reports 

 from America and the Continent of small yields also strengthened the 

 market. October opened with an active trade, German buyers st ; U 

 operating. Values advanced, and the following prices per cwt. were 

 obtained : — East and Mid Rents, 1205. to 180s. ; Weald of Rents, 1205. 

 to 1685.; Sussex, 1 105. to 1505.; Farnhams, 1305. to 1755.; Worcesters, 

 140s. to 1805. The top prices quoted are two or three times as high as 

 at the same period of 1908, and the minimum prices are four or five 

 times as high. The very great variation as between the two seasons 

 illustrates the price fluctuations to which the hop industry is subject. 

 During October, 1909, the general demand was maintained and prices 

 were firmer. By the 27th of that month it was estimated that fully 

 two-thirds of the new crop was in the hands of the merchants, and the 

 practical clearance of choice lots raised the value of medium qualities. 

 In November the demand for new hops was steadily maintained and 

 prices advanced slightly. Continental hops were quoted at much higher 

 rates than best English, and Pacifies were selling at 160s. per cwt. and 

 upwards. Yearling and old hops gradually advanced in value. In 

 December trade was quiet, but prices were no lower, the remaining 

 stocks being firmly held. The last weekly report of the year received 

 from the Board's market reporter stated: — "The present position of 

 the Borough Hop Market is practically unprecedented. It may be safely 

 stated that never in the history of the trade has the supply of English 

 hops on offer at this period been so small. The factors' boards are 

 almost bare, and, with few exceptions, the stocks held by merchants 

 are limited, yet there is no demand, and therefore prices remain 

 nominally at the same level as they have been during the past five 

 or six weeks. . . 



THE CORN MARKETS IN AUGUST. 

 C. Kains-Jackson. 



Owing to the lateness of harvest, practically no new English wheat 

 was on sale during August, and the markets having to rely exclusively 

 on old and seasoned wheat were somewhat m sellers' favour for bread- 

 stuffs. The time of year being adverse to a brisk demand for feeding- 

 stuffs, those staples were at best maintained in price. In many 

 respects, the chief event of August at Mark Lane was the advance in 

 linseed prices to a level constituting a trade record, nor did the last 

 fortnight of the month show any abatement of a stringency which made 

 itself felt by the 15th. Linseed being the basis of the oilcake most 

 prized for fattening livestock, the situation has a very serious side for 

 interests even more extensive than those ordinarily under notice at 

 Mark Lane. 



Wheat. — The sales of old English wheat were much above the 

 average, and the crop, of which deliveries in the first half of the cereal 

 year were small, has in the latter part of the season been offered more 

 freely than usual. In market phrase, "it has lasted out uncommonly 

 well." Millers probably hold more than usual at the end of a cam- 



