954 



The Corn Markets in January. 



[FEB, 



THE CORN MARKETS IN JANUARY. 

 C. Kains-Jackson. 



Wheat. — The leading cereal still averages just over thirty shillings 

 per statute quarter, which means 315. 6d, at Mark Lane and other 

 markets adhering to the East of England standard of 504 lb. The in- 

 creasing sale of poultry wheat at the markets has some little effect in 

 lowering the average. Poultry wheat has, in fact, been selling well at 

 27s. to 285. per 448 lb., a price much nearer to that of milling wheat than 

 the ordinary observer notes, the latter being quoted per 480 to 504 lb. 

 The first month of 191 1 has passed without any really material change 

 in British, Indian, or Australian wheat, but fine Canadian is is. dearer 

 and average La Plata is. cheaper to buy. The Canadian is scarce on 

 spot, but Argentine is coming forward in increased quantity weekly. 

 The month's shipments were 378,000 qrs. from North America, 644,000 

 qrs. from South America, 457,000 qrs. from India, 726,000 qrs. from 

 Australia, 1,237,000 qrs. from Russia, and 937,000 qrs, from Europe S.E. 

 The Australian exports argued a good demand for the new .crop. The 

 supply on passage, of all sorts, has increased from 1,995,000 qrs. to 

 2,100,000 qrs. on the month, but is still moderate. There is more Argen- 

 tine and Australian coming, from the end of 1910, less Russian, 

 American, and Canadian. Prices ruling as the month closed were 30s. 

 to 35s. per 504 lb. for English wheat, 36s. to 395. for Canadian, 35s. 6d. 

 to 38s. for American, 35s. to 36s. for Argentine, 37s. to 38s. for 

 Australian, and 305. to 36s. for Russian. There is little Roumanian on 

 offer in England; where met with it shows somewhat over average 

 quality. 



Flour. — Stocks of imported descriptions are smaller than usual, and 

 the market for Canadian, Minnesota, Californian, and even Kansas has 

 become very firm. Hungarian is the only foreign sort which is in freer 

 offer from last year. It is cheap as things go, and is much appreciated 

 by confectioners. Australian is steady on spot, but decidedly weaker 

 for shipment. London makes are quite unchanged, 325. to 32s. 6d. for 

 best, 30s. to 30s. 6d. for fine white, and 27s. to 27s. 6d. for household. 

 Whole meal gains in demand, so that 27s. 6d. is paid for best and 

 26s. 6d. for secondary. The demand for country flour has been dis- 

 appointing. All-English at 25s. gives a clue to value, but the chief 

 business appears to be done in consignments sent up with a propor- 

 tion of stronger foreign wheat or wheat-flour already added. A half- 

 and-half mixture representing possibly 50 per cent. East Anglian, 

 25 per cent. Manitoba, and 25 per cent. Indian, fetches 265, per sack 

 or thereabouts. The large London mills now import strong wheat 

 from the American North-West, grind it in London, and sell it with 

 a guarantee of purity. The demand for such flour is considerable, and 

 enables "the manufacturing profit " to be retained in London. American 

 flour shipments for January were only 344,000 sacks, and the quantity 

 on passage has fallen to 160,000 sacks of all foreign sources. 



Barley. — The average price of British barley for the week ending 

 January 28th was the same as for the twenty-two completed weeks of 

 the season. This augurs a remarkable stability, though, unfortunately, 

 at a level unremunerative to growers of an average crop. The yield 

 of 1910 not exceeding an average, a depressed feeling is manifest, and 



