1910.] The Corn Markets in September. 



60 i 



been late in commencing, but there seem to be fair reserves of seasoned 

 grain, and prices for the new have not been such as to stimulate 

 delivery. 



Wheat. — Some of the country markets, particularly in East Anglia, 

 have retrograded until the average declared has been below 305. The 

 deliveries for which this low price has been accepted have been mostly 

 of damaged grain that farmers thought had better be got out of the 

 way and sold for what it would fetch. Despite the absence of high 

 winds, there was this season a surprising amount of lodged and twisted 

 corn very badly got, and secured in a sadly draggled state. At the 

 Kentish, Surrey, and Berkshire markets some excellent new wheat 

 has been offered, and has made up to 34s. 6d. for red, and 365. for 

 white. The crop as a whole is believed on the markets to have been 

 secured in better condition than last year. Weight varies more than 

 usual ; perhaps a majority of Mark Lane samples have been averaging 

 62 lb. to the bushel. At the end of the month 325. for 480 lb. lots, 

 and 35s. for 504 lb. were the usual prices, and though not very 

 encouraging to intending wheat sowers, they do not represent such 

 absolute discouragement as might neutralise the influence of a favour- 

 able state of the soil for sowing. Imported -wheat has given way 

 about a shilling on the month, mainly on account of the colossal ship- 

 ments of new crops from Russia and Europe S.E. Shipments for 

 September were 2,916,000 qrs. from Russia, 2,551,000 from Europe 

 S.E., 528,000 from Australasia, 340,000 frOm India, 505,000 from North 

 America, and 487,000 from South America. The Russian total, though 

 extremely remarkable, is not unprecedented, but the item, "Europe 

 S.E.," has not even any near precedent, the highest previously recorded 

 being 1,658,000 qrs. in September, 1905. The shipments of the New 

 World and of India were below the average, otherwise the trade would 

 have suffered from an overwhelming supply in prospect. The supply 

 on passage to the United Kingdom on the last day of September, 

 2,140,000 qrs., was rather below the average, for the Continental buy- 

 ing from Russia and Europe S.E. in the last fortnight of the month 

 was very active and a material stay to the British markets. 



Flour. — The best London grade has fallen is. on the month, but 

 the reduction to 33s. makes it a better business. Town Households 

 are also is. down. Country flour has been in improved supply, and 

 the makes from new crop wheat give a reasonable amount of satisfac- 

 tion. About 23s. is a usual price at Cambridge, Ely, Norwich, and 

 Ipswich, for all-English; London in many cases prefers to pay 25s., 

 but to get for that price a half and half mixture of English and of 

 strong foreign. Hungarian flour has steadied during the month ; at 

 36s. to 38s. the leading brands find a good sale. It is difficult to quote 

 American flour, as there is not only a distinct spot scarcity of several 

 leading named kinds, but the offers for early winter shipment are 

 erratic. Perhaps 31s. for fine Minneapolis, 30s. 6d. for best Kansas, 

 30s. for good Manitoba, and 28s. for secondary patents, whether U.S. 

 or Canadian, were the prices most ordinarily made as September 

 closed. France and Germany, despite their import needs of wheat, 

 contrived during September to ship flour to London, where 345. was 

 made for fine French, 29s. 6d. to 30s. for best German, and 285. for 

 medium. A small cargo of Argentine flour came to hand, but South 



