1058 The Corn Markets in February. [march; 



the price of bread a halfpenny in the course of the month, but 

 during the last half of February millers complained that bakers wer.e 

 buying less freely than usual. Prices made on the 28th for imported 

 flour included 325. for the finest North-Western Patents; 305. for First 

 Minnesota ; 265. 6d. for Common Kansas (made from winter wheat) ; 

 26s. for Australian; 255. 3d. for Iron Duke; and 205. to 215. per qr. for 

 feeding flour. The demand for this, whether the supply was from 

 America or from France, was above the average. At the close of the 

 month 181,000 sacks of flour were on passage. North American ship- 

 ments for February were only 315,000 sacks. 



Barley. — At Mark Lane's closing market for the month fine seed 

 barley touched 39.9. per 400 lb. corresponding to 435. or 445. per qr. 

 of 448 lb. Chilian brewing made 355. 6d. per qr. Californian was 

 scarce and dear, and the best screened barley from Anatolia commanded 

 40s. Feeding barley declined in price after the 29th. Russian began the 

 month at 285. gd. per 400 lb., and closed at 275. gd. Indian began at 

 27s. gd. and closed at 265. 6d. Some new crop barley for shipment from 

 North Africa was mentioned at 255. 3d., while Indian new crop had 

 speculative forward buyers at a 255. level. Imports for the first half of 

 the cereal year have been a good deal above the average, but owing to the 

 dearness of hay and straw, the scarcity of roots, and the small imports 

 of maize, inquiry has been above the mean, and February ended with 

 very moderate granary stocks. There are only 300,000 qr. on passage, 

 against 680,000 qr. a year ago. February shipments were 916,000 qr. 

 from Russia, 339,000 qr. from Europe S.E., and 120,000 qr. from 

 India. The last item is exceptionally large. 



Oats. — English oats have commanded a decidedly high price, and 

 there have been few markets at which anything of 336 lb. weight 

 could be bought under 225. The supplies have seldom been equal to 

 requirements of heavy oats, but the inquiry for 304 lb. sorts and for 

 those of a thick husk has fluctuated a good deal. The Argentine oats 

 on passage, however, declined on 28th to iSs., and the trade for the 

 next two months is expected to be dominated by the efforts of La Plata 

 to dispose of a large new crop. For March shipment the price on 29th 

 was 17s. to ijs. 3d. per qr. only. Shipments of oats for February were 

 18,000 qr. from Canada (these oats fetch 22s. to 235.), 480,000 qr. from 

 Argentina, 543,000 qr. from Russia, and 50,000 qr. from Europe S.E. 

 There are 460,000 qr., a good quantity, on passage. 



Maize. — The imports of this cereal for February were below esti- 

 mated requirements, and for the first half of the cereal year were 

 estimated at one and a half to two million quarters less than current 

 needs. The stocks are much reduced, and, as we have seen, there 

 have been large purchases of feeding barley in lieu of maize. It is 

 therefore curious that prices during February fell fully half a crown 

 per quarter on Russian, a shilling on American, and on Indian two 

 shillings. The cause is the expectation of record shipments of Argen- 

 tine new crop in June and July, but the speculative market has seldom 

 so dominated spot trade. February shipments were 795,000 qr. from 

 North America, 403,000 qr. from Russia, 867,000 qr. from Europe S.E., 

 and 50,000 qr. from India. There are 560,000 qr. on passage, against 

 495,000 qr. a year ago. 



