968 



The Corn Markets in January. 



[FEB, 



to 395. per 480 lb. ; Russian, 365. to according to cleanness and 



quality; and Canadian, 34s. to 435. 6d. — an immense range. At Liver- 

 pool, American red winter, the leading sort there, was held for 75. od. 

 per cental. 



Flour. — Shipments of United States and Canadian sorts in January 

 did not exceed 370,000 sacks to England and Europe. At least half a 

 million were expected, and thus the market has been gradually harden- 

 ing for both these sorts. The advance of Town Whites to 315. was 

 a corollary of the rise in wheat which had by some been regarded 

 as overdue, even on late December wheat quotations. It has carried 

 with it Town Households up to 285., No. 2 Households to 265. 9^., and 

 wholemeal to 285., and while country flour, owing to large supplies 

 into London, is little dearer on the. month, February expectations on 

 the 1 st of the month were certainly in sellers' favour. The supply 

 on passage, 134,000 sacks, is very small. 



Barley. — Remarkable averages have continued to be recorded from 

 some of the counties, Kentish returns in especial being high. Part 

 of the ostensible rise in barley must probably be attributed to the 

 unusually large use of feeding quality on the farm. If the grower 

 only sends to market malting grade a high average naturally results. 

 Towards the end of January a good demand for seed corn was mani- 

 fested. Imported barley has been in full average supply, but inquiry 

 is so much above the average for barley meal that grinding sorts are 

 dearer than ever. The profits on pig fattening are affected by this 

 rise in feeding barley. Russia in January shipped 896,000 qr., Europe 

 S.E., 186,000 qr., but the Continent has continued to buy freely, and 

 only 330,000 qr. were on passage to the United Kingdom at the end 

 of the month. Prices at the close included 285. 6d. to 295. for 400 lb. 

 Russian, and 275. 6d. to 28s. for Indian. 



Oats. — The excellent demand for 304 lb. descriptions has met with 

 curiously little response from shippers. During January Russia sent 

 off 722,000 qr., Europe S.E. 131,000 qr., and Argentina 162,000 qr., 

 but these were a decidedly smaller aggregate than the figures for 

 January, 191 1, when prices were some shillings lower, and the crops 

 of Argentina and Canada smaller. The last-named country has hardly 

 yet begun to ship a crop estimated as giving a clear seven million 

 quarters exportable surplus ; yet the price which Mark Lane is now bid- 

 ding for Canadian 320 lb. oats is 22s. 6d. per qr. The month closed 

 with only 150,000 qr. of oats on passage from all sources, but La 

 Plata was understood to have contracted for about half a million 

 quarters to be shipped before the close of February. An even larger 

 trade is expected for March. 



Maize. — The United States in January shipped 596,000 qr. only, 

 against 920,000 qr. and 837.000 qr. in the two preceding Januarys. This 

 partial failure of expected new crop shipments caused flat and mixed 

 corn to appreciate, and a dear market was experienced where easier 

 buying had been the anticipation. Round corn was shipped from 

 Russia to the extent of 390,000 qr., and 798,000 qr., a very large total, 

 was exported by Europe S.E. The total world shipments, despite the 

 efforts of the European region, were decidedly below the average, 

 and the month closed with less than 400,000 qr. on the high seas. 

 Prices at Mark Lane were 315. for American, Odessa, and Calcutta, 



