REVIEW OF THE CORN TRADE The past month has been very favourable for the completion of the harvest; but in some northern and cold districts all is not yet gathered. The opening and closing of September were brilliant; and the fall of rain was but light in the interim, and this was very favourable to the grass and roots. As to the yield of the season, it appears that the first gatherings were the worst; and where the crop of white wheat was blighted, as, in very many cases, growers almost got nothing for their pains; but, in some localities, there is satisfaction, and the red wheat is but little complained of. The continued absence of statistics leaves much to conjecture; but, taking Ireland and Scotland into account, where reports are less favourable, we retain the impression that there is a large deficiency. If the course of prices at the commencement of the season were to be taken as a criterion, all the reports of a deficiency would be falsified, for the average decline, in four weeks, has been about 5s. to 6s. per qr., though starting with but moderate rates. Nor have the English supplies been heavy, as testified by the weekly sales, which, for four weeks this season, were 202,671 qrs., against 323,235 qrs. in 1861. But the arrivals from abroad have been going on at the rate of one and a-quarter millions a month, or fifteen million qrs. a year, which, according to the received computation of our necessities, would leave ten million qrs. as a national growth-enough to meet our annual wants. The decline in the general averages has been slight, say only 1s. 6d. per qr., the sales representing business a fortnight back commencing at 57s. 4d,, and closing at 55s. 4d., which, however, is 10d. above the rates of 1861, when, in consequence of the demand for France, prices gradually rose till January, when they reached 62s. 1d. The aspect of affairs, however, in that country is now totally changed, as, by the lowest estimate, the French have an average crop; and the freedom of trade in that country makes it very possible that we may have imports thence, prices permitting; and some have already arrived. The North of Europe, too, gives a favourable result as respects wheat; and so does America, the Western States not yet having felt the effects of the war; but with victory now declared in favour of the South, where prices have been extravagant, much may be drawn to this quarter, as well as to Italy and Portugal, where there is an undoubted deficiency. It is, however, very remarkable that our heavy imports have found the season close with general complaints on the part of granary keepers as to the lightness of stocks, showing, indeed, a consumptive demand which has exceeded the highest estimate, and indicating that future prices must depend mainly on the continuance of foreign supplies. While distress exists in the North, low rates will be welcomed as a relief; and if the Baltic accounts, which represent the wheat crop as good (Sweden | and Denmark excepted), produce a decline there, no advance can be expected till supplies fail, or stocks get worked up close. Should a substitute for cotton be found, a more healthy tone may obtain in our several markets; but, without it, we may drag on heavily to the close of the cereal season. The potato crop, though partly diseased, appears fair, on the whole, as yet, so that no pressure is likely to obtain on cereals. The following prices of wheat have been recently quoted at the places of growth; At Paris the best samples of the new crop do not exceed 54s, per qr., some not being worth over 49s. per qr. At Brussels as much as 61s. per qr. has been paid. In Amsterdam about the same price was paid for high mixed Polish. In Switzerland 51s, was a full price. In Bavaria only 45s. was paid for the best of the new crop. Hambro' was still too high for profitable imports, 54s. being the quotation for Mecklenburg and new white Holstein; while at Stettin 52s, was quoted, fine new at Dantzic to 56s. per qr., some weighing 64lbs. per bushel., new Ghirka had sold at Odessa at 35s., Sandomirka at 38s. Prices at Konigsberg for high-mixed wheat were to 50s.; native at Cologne was yet held at 54s. The highest rates at Galatz were 35s.; at Alexandria, 298. 6d. ; but the low qualities of Egypt were used here mostly by distillers, 33s. 6d. being paid for such. In America the new white wheat comes fine, and rates for the best Kentucky were to 53s. 6d. per qr. of 480lbs., old winter red being quoted to 458, per qr., spring to 41s. per qr. of 480lbs. The first Monday opened on a moderate supply of English, mostly new, and a heavy arrival of foreign. The morning's show from Essex and Kent was good, and chiefly of the new crop in white qualities. The weather having been very fine for an entire week, the market was excessively dull, and a reduction of 3s. to 4s. per qr. had to be submitted to, in order to make sales, though red samples went off better than white at scarcely so great a reduction, The quantity of foreign also put the trade very much in the power of buyers, and all sorts were down 1s. to 28. per qr., except picked qualities of old Danzic. Though the arrivals off the coast were not numerous, sales were difficult and prices somewhat in buyers' favour, The country markets this week varied exceedingly, not being prepared to follow the London example. So small a supply was exhibited at Birmingham, that no difference obtained in prices. Spilsby, Bourn, and some other places only declined 18. per qr.: the majority were down 1s. to 2s. per qr. Boston, Ipswich, and Newbury noted a reduction of fully 2s.; Hull, Leeds, and Stockton lowered rates 2s. to 38., and Gainsboro' was 3s. to 4s. cheaper for new samples; but old wheat was generally little altered, from its scarcity. Liverpool gave way 3d, per cental on Tuesday, but was without change on Friday, Glasgow was down 1s. to 1s, 6d. per qr. The second Monday had twice the quantity of English showing on the previous week, and another heavy foreign supply, more than half from Canada and the United States. Notwithstanding the good supply, as the weather had not been universally fine, rates were not further reduced, the show this morning from Kent and Essex being only moderate. Fine qualities went off slowly without change of value; but the bulk, consisting of parcels not in good condition, hung on hand. Prime foreign was not altered, though the demand was limited, and the American arrivals were most of them in such poor condition as to require being taken to granary. There were many arrivals off the coast, and sales were at barely the former currency. This week there was more the appearance of agreement in the country markets; but Birmingham, which did not yield at all previously, now gave way 1s. per qr., so did Boston and a few other places. Liverpool found a better trade at rather less money on Tuesday, but there was no subsequent change. Edinburgh and Glasgow obtained former rates for fine quality, but the latter gave way 1s. per qr. on low American. The native grain showing at Dublin was damp, and sold at irregular rates, while foreign was dull but unaltered. against 36,654 qrs. English, 73,320 qrs. foreign for the same period in 1861., showing that the foreign arrivals were more than double. The exports in four weeks were 75 qrs. wheat, 2,452 cwts, flour. The arrivals in August for the kingdom 1,000,080 qrs. wheat, 782,005 cwts, flour. The flour trade, like that of wheat, has been slow, with prices declining, Norfolks being reduced from 398. to 37s. per sack, with little doing at the reduction. American supplies being very abundant, and of common and inferior quality mostly, have also given way, till 25s. to 26s. have been good prices, but the best sorts are scarce, and would obtain 2s. to 38. more. Town millers have not, however, changed their quotations, the top price commencing and closing at 51s. per sack, and the alleged reason for this unaltered state of things is that former rates lost money in consequence of the high rates paid for fine foreign wheat, which was required to keep up their quality. The imports for four weeks were, in country sorts 47,619 sacks, in foreign 9,856 sacks 138,232 barrels, against 52,440 sacks country, 6,351 sacks 81,598 barrels foreign in 1861, showing a large increase this year, As respects malting barley the trade can hardly be said to have commenced, the qualities of the new crop not attracting maltsters; we have thereThe third Monday had a very heavy foreign sup-fore seen a decline on the first quoted prices of 28, ply, and a fair arrival of home growth. The morning's show from Kent and Essex was not large, but more than sufficient for the demand, especially as much was out of condition. The best samples were fully 1s. per qr. lower, and anything below this quality was fully 2s. per qr. down, with great difficulty in placing at the reduction. In the foreign arrivals a large proportion was from Danzic and America, and these sorts being in demand lately, prices were reduced 1s. to 28. per qr., but cargoes off the coast were not cheaper. The country markets this week again evinced a retrograde movement, some exceeding even the decline of London, as Chesterfield, which was 3s. per qr. lower; Newark, Barnsley, Gainsborough, and Market Rasen, being down 28. to 3s., but more generally the reduction was 28,, while many were only reduced 1s. to 25.; Gloucester and a few other places quoting only a reduction of ls, per qr. The fourth Monday had another heavy foreign supply, but the English arrivals rather fell off. The morning's show of samples from Kent and Essex was also only moderate; but the continuance of splendid weather, and the quantity of foreign, produced almost a perfect stagnation in trade. New English was offered at 2s. per qr. abatement, but at the close of the market very little was sold, and so little was doing in foreign, that some factors were indisposed to quote lower rates, though sales would generally have been gladly made at a reduction of Is. to 28. per qr. on all sorts. Very little also was doing in arrivals off the coast, though prices were nominally the same. Hull this week was 38. to 4s. per qr. down, but the average reduction of the country markets was little over 18. to 2s. per qr. The arrivals into London for the four weeks were 19,053 qrs. English, 181,511 qrs. foreign to 3s. per qr., and the quality generally is but poor, Foreign sorts for malting and distillation have also given way, and the high rates quoted for such now at Hambro' are quite above the English markets, say 34s., Chevalier being quoted 38s., weighing 53lbs. per bushel. Grinding sorts have not, however, much given way, 24s, having been paid for Egyptian, which a few months ago was selling at 20s., and even less. It is expected, however, that a large proportion of the English crop will be fit only for feeding, and prices may therefore be reduced. When, however, the malting season fully begins, there may be a brisk demand for anything really fine, at full rates. The imports for the four weeks were in British qualities only 2,099, in foreign 30,125 qrs., against 5,283 qrs, British, 3,876 qrs. foreign in 1861. It is not, therefore, the quantity of English, but the quality which has sent prices down, The malt trade has been quiet for the month: and prices have not been changed. In The oat trade, with only half the supplies of last month, has constantly been heavy, and prices declining. This may be attributed to the favourable accounts of the English crop, some samples of which have been of great weight, and arrivals have been already so plentiful as to influence foreign sales. New qualities have given way 1s. to 1s, 6d. per qr., but the scarcity of really fine fresh corn has about kept rates as they previously were. ferior Russian sorts have given way 6d. to 1s. per qr. The crop in the Baltic being good, free arrivals of new may be expected before winter, and perhaps lower rates. The imports into London for four weeks were 16,478 qrs. English, 115 grs, Scotch, 640 qrs. Irish, and 86,294 qrs. foreign, against 22,747 qrs. English, 596 qrs. Scotch, 588 qrs. Irish, 154,973 qrs. foreign in 1861. This shows the month's supplies little more than half what they were last season. The bean trade has been dragging, without much quotable change in value. Very few of the new crop have yet come to market, and these, notwithstanding that the crop is generally well spoken of, have been very poor, say 48. per qr. below last year's quality. The foreign supplies have been regular; but as Alexandria has lately given way in price, quoting only 228. to 25s. per qr., f.o.b., we may see some declension in the rates, more especially if any quantity of new English should be pressed on the market in poor condition. The imports into London for four weeks were 1,703 of home growth, 5,080 qrs. foreign, against 1,910 qrs. English, 9,090 qrs. foreign in 1861. In peas there has been very little change, new English going off slowly at former rates all through the month, but there having been a free import from Canada of white feeding sorts, these have given way fully 1s. per qr., with but a slow sale. Foreign Mazagan and Egyptian beans interfering with the sale, rates have been 35s. to 37s.; but boilers, though not much in demand, have obtained full prices, the quantity yet exhibited being small. fine, the size being small; but duns and maples were a better sample, and steadily placed at full rates. The imports for the four weeks into London were 1,865 qrs. English, 6,642 qrs. foreign, mostly from Canada, against 1,533 qrs. English, 2,805 qrs. foreign in 1861. Shaws Of linseed the arrivals have continued quite below the wants of crushers and the feeding demand. Foreign markets, from the Baltic and Black Sea to India, all note an unfavourable yield and high prices; so that rates here have advanced to 748. per qr. for Bombay seed, and cakes have risen 5s. to 10s. per ton. High as prices are, there seems no prospect of any reduction till a new and plentiful crop be gathered, and till then trade must be limited. The cloverseed trade has been without interest. The crops, though not well reported in the south of France, and not promising here, have left prices much the same, the bitter experience of last season keeping the dealers and speculators on the reserve both as respects red and white seed. Canaryseed has been rather dearer. The low rates and small breadth grown in this country have hardened prices. White mustardseed has been declining seriously. Crushers not liking the quality of the new crop, rates have gone down from 118. to 8s. per bushel, with but a slow trade at the decline. Rocks 80s. to 110s per ton. 60s. to 80s. 99 COUNTRY POTATO MARKETS.-DONCASTER (Satur day last.): A large quantity of potatoes were brought to market, and many lots remained unsold: 8s. per load, retail 9d. per peck.--LEEDS (Saturday last): A large supply of pota (Saturday last): Potatoes 6s. to 10s. per 252lbs.-YORK toes: 7d. to 8d., retail 9d. to 10d. per 21lbs.-MANCHESTER (Saturday last): There was a plentiful supply of round potatoes, which sold at from 88. to 98. per tub of 280lbs., and 7d. to 8d. per peck retail. The "days" of kidney potatoes are now "numbered." New winter tares have found a fair enquiry, at FOREIGN AND COLONIAL WOOL MARKETS. from 8s. to 8s. 6d. per bushel; but larger quantities appearing at the month's close, they finished with prices scarcely sustained. Other seeds much as last quoted. Saxon, Per lb. German, s. d. 8. d. 1st and and Elect............ 3 2 to 4 6 Prima ...................... 2 2 3 0 and Prussian. Secunda 1 104 2 6 1 61 1 10 1 8 2 0 s. d. Unwashed .................. 0 9 13 1 7 1 3 1 7 73824 qrs. 55 10 Wheat......104987 qrs. 54 6 PORT PHILIP-Lambs................................... 1 6 2 3 11930 Scoured do.............................. 1 9 3 0 Rye........ Beans 295 1529 35 9 Rye ........ 41 8 Peas........ Beans ...... Locks and Pieces.. 0 10 ....... 1 0 1 4 18 41 11 Peas 555 COMPARATIVE AVERAGES-1862-61. From last Friday's Gaz. s. d. From Gazette of 1861. |